The Real Deal New York

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

Four Lexington Ave. buildings trade for $17M; Ciampa Realty buys LIC retail property

April 21, 2015 09:30AM
By Kyna Doles

From left: 100 Lexington Avenue, 100 West 93rd Street and Adam Gordon of Madison Development LLC

From left: 100 Lexington Avenue, 100 West 93rd Street and Adam Gordon of Madison Development LLC

1.) Kano Properties acquired four adjacent mixed-use buildings in Midtown for $17 million. The properties at 131 East 27th Street, 100 Lexington Avenue, 102 Lexington Avenue and 104 Lexington Avenue are four-and-five-story buildings comprising of more than 21,000 square feet. The buildings have a combined 37 residential units and five commercial units. The seller is 131 Lexington Corp.

2.) Flushing-based Ciampa Organization purchased a Long Island City retail building at 24-01 Queens Plaza North for for $16.5 million. The single-story building holds two retail units across 6,000 square feet, but has 49,200 square feet of unused air rights. The sellers are listed as Carltan LLC, Elken Plaza LLC and Kimbal Club LLC.

3.) Real estate investor Israel Weinberger paid $16.5 million for a commercial condo in a 29-story building at 100 West 93rd Street. The condo unit is 3,700 square feet. The seller, Pyramid Real Estate Group, owns two additional commercial units in the building, totaling more than 67,000 square feet.

4.) A Washington Heights apartment building at 1090 St. Nicholas Avenue traded hands for $14.4 million. Heritage Realty acquired the six-story building from Newcastle Realty Services for $5.5 million more than its previous sale price in 2013. The elevator building has 46,000 square feet of residential space, including 40 apartments and another 5,500 square feet of office space.

5.) Madison Development LLC purchased a development site at 33rd Street and 20th Avenue in Queens for $13.9 million. Investor Angel Acquista is the seller. An exact address was not listed on the deed.

6.) Yim Bon Fong, former owner of Fong’s Sewing Machine Supply in Soho, sold a five-story commercial building at 34 Howard Street. An entity listed as 34 Howard LLC purchased the property, located between Broadway and Crosby streets, for $13.8 million. Tenants in the seven-unit building include a mix of office and retail, including Whole Health MedSpa.

7.) After nearly 20 years of ownership, Richard Scharf’s Abro Management sold a 92-unit mixed-use building at 210 West 262nd Street, on the corner of Broadway, for $13.5 million. The six-story elevator building has 89 residential units and three retail units totaling nearly 95,000 square feet. Brooklyn-based investor Yonah Halton is the buyer.

(Source: ACRIS data for closed sales between 4/13 to 4/19, PropertyShark data)