The Real Deal New York

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

Silvercup Studios breaks into the Bronx; RedSky Capital picks up Bedford Avenue property

May 19, 2015 11:00AM
By Kyna Doles

602 West 185th Street, 192 Bedford Avenue and RedSky's Ben Bernstein

From left: 602 West 185th Street, 192 Bedford Avenue and RedSky’s Ben Bernstein

1.) Silvercup Studios is expanding into the Bronx with the purchase of buildings at 275 Locust Avenue and 903 East 140th Street for $15 million. The deal also included a third property located at 141st Street. The Long Island City-based film and television studio will have space at the 83,000-square-foot warehouse on Locust Avenue and an additional 10,000 square feet on 140th Street. Simone Development is the seller.

2.) RedSky Capital added another Bedford Avenue property to its holdings for $12.2 million. In February, the Brooklyn-based developer purchased retail properties at 184-186 Bedford Avenue and 204-206 Bedford Avenue for $40 million. The latest purchase is for a building at 192 Bedford Avenue, between North 6th and 7th streets. The 1,000-square-foot building is two stories with Japanese restaurant Mizu occupying the lower level, and two apartments on the second floor. The property has a total of 4,000 buildable square feet. KGL Bros Realty LLC is the seller.

3.) Ruben Luna, who owns supermarkets throughout the city, acquired a retail building at 602 West 185th Street for $10.5 million. The Washington Heights property, on the corner of St. Nicholas Avenue, is home to a supermarket and smaller retail stores across nearly 29,000 square feet of space. The seller is an entity listed as Baxter 18 Realty Co., LLC.

(Source: ACRIS data for closed sales between May 11-17, and Reonomy data)