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New York

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

A row of retail buildings in Homecrest trades hands; Ohebshalom family buys Chelsea commercial property

1817 Avenue U and 137 West 19th Street
From left: 1817 Avenue U in Homecrest and 137 West 19th Street in Chelsea

1.) Investor Soon Lee’s 325 Realty Inc. purchased more than 19,000 square feet of retail and storage space in Brooklyn’s Homecrest neighborhood for a total of $12.1 million. The deal consisted of three contiguous retail buildings at 1805-1817 Avenue U and a single-story storage building around the corner at 2073 East 18th Street. Dunkin’ Donuts, Baskin Robins and Sprint are among the buildings’s tenants; the buildings were delivered fully leased. Michael and Martin Krasne are the sellers. Lee’s 325 Realty Inc. recently sold a mixed-use building at 325 Canal Street in Soho and city records show the owners are tied to properties at 68 Orchard Street and 324 Grand Street on the Lower East Side.

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2.) A six-story commercial building at 137 West 19th Street in Chelsea sold for $10.5 million. David Ohebshalom of Big Apple Properties nabbed the building from Cerium Inc. The building is home to five commercial tenants and a four-bedroom, 3.5-bathroom penthouse on the top floor, which is rented out for $17,000 a month, according to StreetEasy. Earlier this month, Nader Ohebshalom of Gatsby Enterprises shelled out $13.6 million for a Comfort Inn on the Lower East Side.

(Source: ACRIS data for closed sales between Oct. 24-30, and Reonomy data)

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Investment Sales