The Real Deal New York

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

Apex Investments buys a pair of Gramercy Park buildings; Jeff Koons expands Hells Kitchen studio

July 14, 2015 05:15PM
By Kyna Doles

Kasra Sanandaji, 257 Third Avenue and 620 West 52nd Street

From left: Kasra Sanandaji, 257 Third Avenue and 620 West 52nd Street

UPDATED, 5:45 p.m., July 15: 1.) A 96-unit apartment building at 3030 Brighton 12th Street in Brooklyn traded hands for $20 million. Angelo Parlanti’s 3030 Brighton LLC acquired the property from longtime owners Kislev Realty LLC, operated by the Stadtmauer family. The six-story rental building totals 100,800 square feet.

2.) Kasra Sanandaji’s Apex Real Estate Investments paid $15.6 million for a pair of Gramercy Park apartment buildings next to its planned 25-unit residential building, which is currently under construction. The contiguous properties at 257 Third Avenue and 259 Third Avenue have three residential units spanning nearly 3,500 square feet and two ground-floor retail units totaling 2,500 square feet. Apex acquired the neighboring buildings at 253-255 Third Avenue last year for $9.5 million. Fodera/New York Inc. is listed as the seller.

3.) The Cabs Nursing Home in Brooklyn sold for $15.6 million. The Allure Group, a Brooklyn-based nursing home operator, acquired the four-story, 114-unit facility. The property spans 72,800 square feet between Dekalb Avenue and Kosciuszko Street in Bedford-Stuyvesant.

4.) Maurice Vaughn and Eugene Schneur’s Omni New York LLC purchased five Bronx residential buildings for $13.8 million. The Hunts Point properties are located at 1012 Garrison Avenue, 860 Bryant Avenue, 887 Bryant Avenue, 890 Bryant Avenue and 898 Bryant Avenue. The buildings have a 165 apartments across 181,700 square feet of residential space. The Garrison Avenue property also has two ground-floor retail units totaling 2,400 square feet. Center Development Corporation is the seller.

5.) A 49-unit residential building at 666 West 162nd Street in Washington Heights traded for $13 million. The buyer is listed as two entities controlled by Jacob Landau. The six-story building sits between Riverside Dive and Fort Washington Avenue. The seller, Miklos Vasarhelyi, paid $6 million for the 53,000-square-foot property in 2011.

6.) Artist Jeff Koons is expanding his new Hell’s Kitchen studio space. Koons recently acquired a garage at 620 West 52nd Street and a vacant lot at 622 West 52nd Street for $11 million, then put down another $12.7 million for the neighboring commercial building at 624 West 52nd Street. The new space is currently home to a three-story, 11,000-square foot building. Koons is relocating from his studio at 601 West 29th Street in Chelsea. No permits have been filed yet to convert the space. Several individuals under the entity Celtic Realty, LLC are the sellers.

7.) Allmed Medical and Rehabilitation Center at 4377 Bronx Boulevard sold for $11 million. An entity listed at 4377 Bronx Blvd Realty LLC purchased the three-story building from Langdam Property Services. The building spans 46,500 square feet between Nereid Avenue and East 237th Street in the Wakefield neighborhood.

8.) Brick Realty Capital acquired 102 residential units in Central Harlem for $10.6 million. The units are spread across four buildings at 103 West 128th Street, 109 West 128th Street, 363 Lenox Avenue and 112 West 129th Street. The properties are a mix of three and five-story buildings totaling 39,200 square feet, including five retail units along Lenox Avenue.

9.) Developer Tony Boemi closed on a deal to buy a Turtle Bay development site for $10.5 million. Boemi filed permits in February for a new five-story mixed-use building at 308 East 59th Street. The new building is expected to have 12 residential units and ground-floor retail space. No permits have been filed yet to demolish the vacant two-story building on the site. The seller is 308 East 59th Street, LLC.

(Source: ACRIS data for closed sales between July 6-12, and Reonomy data)