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SB Capital Group, Holliswood Development and Edifice Partners have acquired a six-building portfolio in the East Village from Kushner Companies for $38 million. The sale marks Kushner's continued divestment of neighborhood properties as it shifts focus to New Jersey developments.

    The walk-up portfolio includes four contiguous buildings at 329-335 East 9th Street, sold for $26.9 million, and two additional buildings at 516 and 518 East 13th Street, sold for $11 million. The combined properties offer 56 residential units and six retail spaces across 49,513 square feet.

    "We find ourselves in an environment that has become challenging," Kushner Companies' CEO Laurent Morali said. "We expect to see more sales in the future." Kushner is expanding its portfolio in New Jersey, securing $1 billion in construction financing last year and a $295 million loan for its Jersey City project.

    For Holliswood, the deal represents its largest acquisition to date and expands its footprint in the neighborhood to nine tax-class 2A/2B buildings. The company focuses on acquiring vacant or underutilized properties with at least 65% free-market units, particularly those classified as tax class 2A/2B.