The Real Deal New York

Posts Tagged ‘david schechtman’

  • From left: David Schechtman of Eastern Consolidated,145 Greene Street and Ben Askenazy

    From left: David Schechtman of Eastern Consolidated,145 Greene Street and Ben Askenazy

    Ashkenazy Acquisition, the Midtown-based real estate firm headed by young mogul Ben Ashkenazy, snapped up a prime Soho retail condominium, a broker involved with the deal told The Real Deal. [more]

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  • 4 East 46th Street and David Schectman (inset)

    4 East 46th Street and David Schectman (inset)

    A small Midtown office building just off Fifth Avenue has sold for $16.4 million – or just north of $1,000 per square foot — to a Korean investor making his debut in the New York City market.

    The 16,115-square-foot building at 4 East 46th Street comes with 30,000 square feet of air rights, making it a viable prospect as a boutique hotel. The building could also receive additional air rights if the Midtown East rezoning proposal is approved. [more]

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  • ezratty-arcade

    141 West 35th Street and Brian Ezratty

    The Kaufman Organization’s Kaufman Arcade building in Midtown South is on the market for the first time in over 60 years, the New York Post reported. The 198,000-square-foot property at 141 West 35th Street could command north of $90 million, sources told the Post.

    Kaufman tapped Eastern Consolidated’s Brian Ezratty and David Schectman to market the mid-block building that runs from West 35th Street to West 36th Street between Broadway and Seventh Avenue. [more]

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  • 1031-pic

    From left: Doug Harmon, Joe Koicim, Matthew Bonney and Matthew Scheriff

    A growing number of investors are opting for so-called 1031 exchanges, in the wake of tax code changes that have increased the hit on selling real estate. But with more sellers exchanging higher and higher priced properties, some experts say the investment sales market is getting artificially inflated. [more]

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  • From left: the exterior and interior of 121 Greene Street and Lipa Lieberman of Eastern Consolidated

    Two Soho retail properties — a condominium at 121 Greene Street and a co-op at 349 West Broadway — will hit the market today asking $35 million, The Real Deal has learned. The Greene Street building, between Prince and Houston streets, houses trendy eyewear purveyor Warby Parker’s first brick-and-mortar store, which opened last week. [more]

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  • 380 Columbus Avenue and Margaret Streicker Porres of Newcastle

    The nearly 12,000-square-foot commercial condominium at 380 Columbus Avenue is being put on the market for the first time since the building was constructed in 1900, The Real Deal has learned.

    A team of brokers at Eastern Consolidated, led by Executive Managing Director David Schechtman, has been retained to sell the space with an asking price of $23.5 million. [more]

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  • From left: soon-to-be developed area near Citi Field and Citi Field

    A development site with “extremely permissive zoning” has hit the market in the Willets Point area of Queens, listing broker David Schechtman of Eastern Consolidated confirmed to The Real Deal today. The site, which boasts about 350,000 buildable square feet and is just down the road from Citi Field, is asking $21 million, according to documents obtained by TRD. [more]

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  • From left: Alfa CEO Michael Namer, the site at 117-119 West 21st Street (credit: PropertyShark) and David Schechtman of Eastern Consolidated

    Alfa Development is in contract to buy a development site in Chelsea for $12 million, pending the approval of bankruptcy court, Crain’s reported. The site is located at 117-119 West 21st Street, between Sixth and Seventh avenues, and used to be a Hershey factory.

    Alfa is now in a “stalking horse” contract to close on the nearly 19,000-square-foot property in an all-cash deal, though a better offer could come at an early November auction sale. As it currently stands, the property is a vacant four-story warehouse and Alfa entered contract in early September. [more]

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  • Chatsworth hits market seeking $150M

    August 14, 2012 08:30AM

    Eastern's David Schechtman and the Chatsworth (credit: PropertyShark)

    The longtime owners of the Chatsworth, an Upper West Side rental building that dates back to the late 1800s, have put the property on the market. The Wall Street Journal reported the sale could net the grandchildren of Lenore Dean, whose family has owned the building for 67 years, more than $150 million.

    The 139-unit apartment building, at 344 West 72nd Street on the corner of Riverside Drive, is about 50 percent rent-stabilized. One-bedrooms rent for an average of approximately $1,600 per month, $1,000 less than the Upper West Side average for such units. [more]

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  • From left: the site at 117-119 West 21st Street, Robert Knakal, chairman of Massey Knakal Realty Services, and David Schechtman, principal at Eastern Consolidated

    A prime Chelsea development site has hit the market with Eastern Consolidated’s David Schechtman, Alan Miller and Paul Nigido, but only after a listing skirmish that pitted two of the city’s most active investment sales brokerages against one another.

    The parcel, currently home to a four-story gallery, is being sold out of bankruptcy with an asking price of $15.5 million. But the unsecured lenders for the site, at 117-119 West 21st Street, opposed Eastern Consolidated’s representation of the seller, the Arc Building LP, court documents show. [more]

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  • David Schechtman of Eastern Consolidated and 2300 Cropsey Avenue

    A Swedish bank that holds dozens of former Lehman Brothers Holdings notes has retained commercial brokerage Eastern Consolidated to market the defaulted mortgage on a prospective Brooklyn development site owned by developer Alexander Gurevich, Eastern broker David Schectman, who is handling the listing, confirmed to The Real Deal today. [more]

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  • David Schectman, a broker with Eastern Consolidated

    The sale of distressed property notes, especially in the under the $10 million range in New York City, have seen an uptick recently, Crain’s reported. David Schechtman, a broker with Eastern Consolidated, said he has been selling about two notes a week since the beginning of the year, and thinks the increased interest is because investors are less skittish now. He also said he expects “more notes to pour onto the market,” according to Crain’s. [more]

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  • From left: Jonathon Yormak and David Peretz of East End Partners, Jackie Renton, principal of Aion, David Schechtman of Eastern Consolidated and 25-27 Mercer Street

    A 27,750-square-foot mixed-use retail and residential property in Soho tenanted by retailers Nike, Sportswear USA and sportswear retailer Surface to Air, has changed hands in a transaction valued at $18 million, David Schechtman, executive managing director at Eastern Consolidated, told The Real Deal today. [more]

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  • David Schechtman and 310 East 55th Street

    The 3.6-acre waterfront plot near Citi Field in Queens that was reported to be in default by The Real Deal  is guaranteed by 75 co-op units in Midtown Manhattan.

    According to the New York Daily News, lender U.S. Bank is seeking the highest bid for the mortgage it provided to Abs Flushing Development for the site, at 39-08 Janet Place. The new owner will also take control of the co-ops at 310 East 55th Street. [more]

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  • Marion Jones (l) & David Schechtman of Eastern Consolidated and 310 East 55th Street

    In a strange twist, a Queens development site comes with a free gift — 75 sponsor units in a Manhattan residential co-op, Crain’s reported.

    The buyer of the defaulted loan for a 3.7-acre development site in Flushing, Queens, near Citi Field, will also get 75 apartments at 310 East 55th Street, because the apartments were used as collateral for the loan. U.S. Bank National Association made the loan to ABS Flushing Development in 2006, Crain’s said. Crain’s didn’t know the size or value of the apartments at press time. [more]

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  • Investment sales brokers sound off on 2012

    December 30, 2011 02:19PM

    Compiled by Adam Pincus
    Brokers broadly expect next year to be an improvement over 2011 in New York City’s investment sales market, although concerns about the global economy and financial services layoffs create uncertainty, and that puts a drag on activity. This year, total investment sales are expected to end up at about $25 billion, far ahead of the $14.5 billion in 2010. The Real Deal talked to a series of brokers about what they expect for the new year. …
    [more]

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  • From left: Marion Jones and David Schechtman of Eastern Consolidated and 701 West 135th Street

    A free-standing retail building near Columbia University’s developing Manhattanville campus has hit the market for $11 million, according to Eastern Consolidated, which is the exclusive listing agent for the property.

    The 18,200-square-foot, rectangular building at 701 West 135th Street currently yields more than $400,000 in annual income from current leases, according to the listing, with one retail suite still vacant. Alternatively, the two in-place leases each contain terms to provide for vacant delivery by summer 2012.

    “It’s an absolutely phenomenal opportunity to reposition a 20,000-square-foot building in a proven retail strip,” said Marion Jones, a director at Eastern, who shares the listing with colleague David Schechtman. — Katherine Clarke[more]

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  • UWS apartment project shifts gears, again

    December 01, 2011 12:36PM

    The developer of a high-end, 9-unit building on the Upper West Side has abandoned plans to sell the units individually as condominiums and instead is offering to sell the entire property in one transaction, with an asking price of $22.8 million.

    Brooklyn-based Manor Properties Group constructed the new, 10-story building at 208 West 96th Street, between Broadway and Amsterdam Avenue, and was given its certificate of occupancy in April.
    But attempts by Halstead Property Development Marketing to sell the units as condominiums with prices according to Streeteasy.com of about $2.3 million each, failed. Then Manor Properties tried renting the apartments, which are all full-floor, three-bedroom units. … [more]

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  • From left: Siraj Dadabhoy, principal of Aion, David Schectman, principal at Eastern Consolidated, 57-63 Greene Street and 21-25 Mercer Street

    New York real estate investment fund Aion Partners is marketing two Soho retail condominiums in an effort to capitalize on demand for these types of properties in key locations, Crain’s reported.

    The company has listed a 13,700-square-foot condo at 57-63 Greene Street and another at 21-25 Mercer Street, the latter which includes a residential condo unit and three stores. Tenants at the first property include Bang & Olufsen, Cyrus Co. and Raul Carrasco and at the second, Nike, Toto and Surface to Air.

    “The tenants are paying at least 40 percent below current rents so there is a great opportunity for upside,” said David Schechtman, a principal at Eastern Consolidated, who is handling the sales. “But you also have solid cash flow.” The asking prices for the properties are $19 million and $20 million, respectively. … [more]

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    From left: David Schechtman, senior director of Eastern Consolidated’s Turnaround and Distressed Group, Christopher Okada, CEO of Okada & Company, and Adelaide Polsinelli, associate vice president of investments at Marcus & Millichap

    Midtown West is quickly becoming a hub of commercial activity, brokers say, in anticipation of the Related Companies’ Hudson Yards development and thanks to new zoning regulations. “Eastern Consolidated, and I personally, have done a tremendous amount of work there,” said David Schechtman, senior director of Eastern Consolidated’s Turnaround and Distressed Group. “There’s a renewed interest in the neighborhood. It’s south of the already established Hell’s Kitchen and the gateway to Hudson Yards. There are big old buildings there that are ready to be repositioned — old, raw material that could be reshaped.”

    As The Real Deal previously reported, Midtown West office building sales rose by more than 100 percent year-over-year in 2011, to $5.7 billion from $1.8 billion in 2010, according to Eastern Consolidated’s recent MetroGrid Report for Midtown West, released last week, which defines Midtown West as the area that extends from 30th to 59th streets, and Fifth Avenue to the Hudson River.  … [more]

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