The Real Deal New York

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

Thor Equities buys Nolita retail; SMA Equities sells 210 Rivington Street

May 05, 2015 11:10AM
By Kyna Doles

1.) The Highland Care Center in Jamaica traded hands for $17.8 million. The nine-story nursing home, located at 91-31 175th Street, sold to a buyer under the entity 9131 Realty LLC. The facility is more 113,000 square-foot facility and holds 320 beds. Kes Realty LLC is the seller.

2.) Comjean Associates paid $13.2 million for a 24-unit rental building at 185 Mott Street in Nolita. The five-story building has 20 residential and four commercial units, collectively spanning nearly 12,900 square feet. Kenmare Mott Realty Associates Inc. is the seller.

3.) Brooklyn-based landlord Abraham Soudry purchased a Lower East Side building at 210 Rivington Street for $12.5 million. The corner property holds 20 apartments and three commercial units across 14,000 square feet of space. The seller, Samy Mahfar’s SMA Equities, acquired the building in 2013 for $7.5 million. SMA also recently purchased three Gramercy commercial properties on Third Avenue between East 22nd and 23rd Streets for a total of $27.8 million.

4.) Joseph Sitt’s Thor Equities picked up a three-story building at 176 Bowery for $10.2 million. The Nolita building is located on the corner of Kenmare Street between Spring Street and housed a single commercial unit. The seller, Marlene Lipner, owned the nearly 6,000 square-foot building since 1981.

5.) In Harlem, an 18-unit building at 2070 Frederick Douglass Boulevard sold for $10.1 million. Melvin Lev acquired the seven-story property from 2070 Uptown LLC, who paid $2.1 million for it in 2006. The corner building, between West 112th and 113th Streets, has 16 residential units and two ground-floor retail units totaling 15,200 square feet.

(Source: ACRIS data for closed sales between April 27 to May 3, and Reonomy data)