The Real Deal New York

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

Lenox Hill development site sells for $12 million; Greenpoint warehouse trades for $10.5 million

July 28, 2015 02:40PM
By Kyna Doles

321 East 60th Street and 83 Apollo Street

From left: 321 East 60th Street in Midtown East and 83 Apollo Street in Greenpoint

1.) Guido Subotovsky’s Azimuth Development Group closed on deal to buy a Leonx Hill development site for $12 million. The property is located at 321 East 60th Street, between First and Second avenues. Permits were filed in March for a new eight-story, 28-unit building after the seller, Midtown-based Minuit Partners, received a variance to change the use of the site to residential. Records show Subotovsky bought the property jointly with the Housing Partnership.

2.) Ofer Joe Levy sold an industrial warehouse in Greenpoint for $10.5 million, just a few months after acquiring the plot for $4.5 million. In fact, it’s the third time that 83 Apollo Street has changed hands this year. A buyer using the entity “CRMX-211 LLC” made the most recent purchase. The single-story building is situated between Nassau and Norman avenues and has 47,000 buildable square feet.

(Source: ACRIS data for closed sales between July 20-26, and Reonomy data)