The Real Deal New York

Posts Tagged ‘eastern consdolidated’

  • Clockwise from top left: 1715 First Avenue (center), Thomas Gammino, Lipa Lieberman and David Schechtman

    Clockwise from top left: 1715 First Avenue (center), Thomas Gammino, Lipa Lieberman and David Schechtman

    Anbau Enterprises has snapped up a trio of Upper East Side buildings that it will redevelop for $33 million, a source told The Real Deal. The parcels, at First Avenue and 89th Street, offer 88,000 square feet for residential development, the source said.

    Most of the site had been set to become condominiums in 2008, before the economic downtown. In 2011, owner Uri Foxbrunner defaulted on mortgages for two of the properties — at 1711 and 1713 First Avenue — and sold the third, at 1715 First Avenue, to a limited liability corporation for $5 million. [more]

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  • eastern-pic-final

    Credit: Eastern Consolidated

    Above all, commercial investors in New York City real estate are after one thing – land.

    Sales of prospective development sites multiplied, while sales of other types of commercial properties, including multi-family assets and office buildings, declined in the third quarter, according to data provided to The Real Deal by commercial brokerage Eastern Consolidated. [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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  • Lucky fig trees help draw buyers

    July 17, 2013 04:30PM
    Adelaide Polsinelli and a fig tree

    Adelaide Polsinelli and a fig tree

    From the July issue: The fig tree, a symbol of knowledge in the Bible, has taken on yet another role: real estate selling point. Figs are drawing in buyers who give weight to their folklore. And they can sweeten the deal for sellers, sources told The Real Deal[more]

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  • Robert Khodadadian

    Robert Khodadadian

    From the June issue: Commercial broker Robert Khodadadian has left Eastern Consolidated to devote all his time to off-market deals with Skyline Properties, a company he founded before the recession.

    “Nobody wants to deal with exclusives,” Khodadadian told TRD last month. “I can’t count how many times a buyer has told me that when they see an email from a big company, they delete it.” [more]

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  • Adelaide Polsinelli

    Adelaide Polsinelli and 44-58 East 8th Street

    Eastern Consolidated’s Adelaide Polsinelli and Gary Meese are marketing the leasehold interest in an entire Greenwich Village block-front, the New York Observer reported. The addresses span 44 to 58 East 8th Street, located between Greene and Mercer streets. [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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  • Inset: Adelaide Polsinelli

    “What I did for the gig” is a weekly web feature that chronicles the outlandish, risky and comical strategies that residential and commercial real estate brokers have used to land listings, clients and jobs.

    Call me maybe?

    Five years ago, Adelaide Polsinelli, an investment sales broker at Eastern Consolidated, was trying to nab an exclusive listing for a walk-up apartment building in the East Village. But the owner, a landlord who Polsinelli declined to name, refused to hear her pitch.  [more]

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  • 666 Fifth Avenue

    Manhattan commercial property sales were $10.5 billion in the fourth quarter of 2012, up 80 percent from the $5.8 billion in sales in the third quarter, according to the latest Manhattan Commercial Property report from Eastern Consolidated. A key reason for the surge was investor anxiety about capital gain increases that would be triggered by the fiscal cliff. “We found that both buyers and sellers were eager to make the deal and have it close by year-end,” said Daun Paris, president of Eastern Consolidated. The report found that the volume of property sales also increased to 345, up from 318 in the third quarter. … [more]

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  • Parkoff pays $10M for UES building

    April 23, 2010 02:59PM

    Great Neck, LI-based property owner Parkoff Organization purchased an Upper East Side mixed-use building at 1248-1250 Lexington Avenue for $10 million yesterday, a broker on the deal said. The five-story building at the corner of Lexington and 84th Street has 24 mostly rent-stabilized apartments and six commercial units, including one that is home to Mimi’s Pizza Kitchen. City property records listed the seller as Sussex Associates. Adam Parkoff, principal with the buyer, said his firm bought it because of the steady residential and retail demand on the Upper East Side…. [more]

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