The Real Deal New York

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

A.D. Real Estate Investors buys an EV multifamily building; Stonehenge sells three resi rentals

October 27, 2015 02:45PM
By Kyna Doles

Ofer Yardeni, 347-351 East 58th Street and 409-421 14th Street

From left: Ofer Yardeni, 347-351 East 58th Street and 409-421 14th Street

UPDATED, 3:06 p.m., Oct 28: 1.) A row of seven multifamily buildings along 14th Street in Park Slope sold for $19 million. Deepak Raj of investment firm Greenbrook Partners purchased the 44 units at 409-421 14th Street from its longtime owner Leon Goldstein of Lido Realty. The three-story buildings are landmarked, and stretch between Seventh and Eighth avenues, adjacent to the Park Slope Jewish Center. TerraCRG represented the seller in the deal.

2.) Great Neck-based A.D. Real Estate Investors paid $17 million for a 32-unit mixed-use building at 190 East Second Street. The six-story East Village building is home to Italian restaurant Il Posto Accanto on the ground floor and has 28 rental apartments spanning nearly 21,000 square feet. A.D. most recently acquired a seven-story rental building in the Flatiron District this month for $30 million.

3.) Ditmas Management scooped up a trio of five-story multifamily buildings in Sutton Place for $16.1 million from Ofer Yardeni’s Stonehenge Partners. The properties at 347-351 East 58th Street are contiguous rental buildings spanning nearly 19,000 square feet with an additional 5,000 square feet of air rights. The 30-unit building last traded hands in 2008 for $10.4 million.

(Source: ACRIS data for closed sales between Oct. 19-25, and Reonomy data)