The Real Deal New York

Here’s what the $10M-$20M NYC investment sales market looked like last week

Clarion Hotel, DoBro land among trades

February 17, 2015 09:15AM
By Kyna Doles

From left: 94-00 Ditmars Boulevard in Queens, 397 Bridge Street in Brooklyn and Albert Laboz

From left: 94-00 Ditmars Boulevard in Queens, 397 Bridge Street in Brooklyn and Albert Laboz

1.) Hotel operator Shimmie Horn purchased the 172-key Clarion Hotel La Guardia Airport at 94-00 Ditmars Boulevard in Queens for $18 million. The three-story hotel spans just over 46,000 square feet. The seller, LNR Property LLC, purchased the property for $13.9 million in 2013.

2.) An East Williamsburg warehouse at 1150 Metropolitan Avenue sold for $16 million. The one-story facility off Grand Street and Varick Avenue is 91,000 square feet, but can can be developed up to 160,000 square feet. HB NYC Realty LLC is listed as the buyer. The sellers are 221 Realty LLC, and Shifra Rivka LLC.

3.) United American Land picked up a nine-story commercial building at 397 Bridge Street for $14.7 million. Located between Willoughby and Fulton Streets in Downtown Brooklyn, the 38,000-square-foot building is home to office and retail tenants. The seller, Bridge Management Corp., owned the property since 2010.

4.) BCB Property Management is the new owner of a Williamsburg apartment building at 218 South Third Street. The management company partnered with Pacific Industrial Partners to purchase the 41-unit rental building for $12.7 million. The six-story apartment building spans nearly 39,000 square feet. The seller was 119 Realty Corp.

5.) Adre Real Estate purchased a pair of multifamily buildings at 315 and 317 East 74th Street for $12.5 million.  The adjacent buildings, located between First and Second Avenues on the Upper East Side, hold a combined 34 residential units, two ground-floor retail units and 17,546 square feet of total space. The seller is 316 East 74th LLC.

6.) Alrose Group sold a retail unit at the Downing Court Condominium in the West Village for $11.3 million. Quality Capital USA Retail LLC purchased the 11,398-square-foot retail space at 63 Downing Street, which was home to the New York University Occupational and Industrial Orthopedic.  The unit is located on the ground-floor of the 10-story, 34-unit condo building.

7.) Prana Investments Inc. purchased a six-story walk-up apartment building at 2304 Sedgwick Avenue in the Bronx for $10.5 million. The mixed-use building, located on the corner of West Fordham Road, holds 65,000 square feet of residential space, including 57 apartments and another 3,800 square feet of retail space among six units. The building was last transferred to the sellers, Naipaul Towers LLC and New Dawn Holdings LLC, from Royal Assets LLC, which purchased the property in 2012 for $6.7 million.

8.) Simon Blitz of 47-33 5th Street Corp. paid $10 million for a five-story rental building at 74 Pearl Street in the Financial District. The 27,660-square-foot mixed-use building holds four residential and two commercial units. Coenties Slip & Pearl LLC is the seller.

9.) Scottish Inn Partnership sold the Howard Johnson Inn Jamaica JFK Airport at 153-95 Rockaway Boulevard in Queens for $10 million. The 14,800-square-foot hotel last traded for $8.1 million in 2005. The buyers are listed as  American Prosperity, LLC and Huron American Prosperity, LLC.

(Source: ACRIS data for closed sales between 2/9 to 2/15, PropertyShark data)

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