Elaine Tross, 152-154 Leroy Street and James Nelson

A new hotel project is set to spring up in the West Village, after an unidentified investor picked-up a parking lot at 152-154 Leroy Street for $10.25 million in cash, the New York Observer reported. All that is currently known about the buyer is that the person is a first-time New York City investor from the Midwest, who has built hotels elsewhere in the United States, according to Elaine Tross of Halstead Property, who represented the buyer. [more]

Helen Hwang, an executive vice president at Cushman & Wakefield, Aaron Jungreis, president at Rosewood Realty Group, James Nelson, a partner at Massey Knakal Realty Services, David Schechtman, senior director at Eastern Consolidated

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]

The Manhattan Theatre Source in Greenwich Village is closing its doors, BroadwayWorld.com reported. The theater, at 177 MacDougal Street, was founded in 2000 and rented out space to emerging theater production artists for stage performances and has been named one of the top five best Off-Off-Broadway theaters. But the board of directors said that despite efforts to save the theater company, a growing budget deficit has forced it to vacate its space.

“Our deficits have grown too high,” said Doug Silver, a member of the Manhattan Theatre Source board of directors, “and the terrible economy has badly hurt small theater companies in New York City, not only the Source itself, but even more significantly the companies that we depend on to rent our theater all year long.”… [more]

Kevin Comer, founder of Beck Street Capital, and 367-369 Bleecker Street

Real estate investment firm Beck Street Capital sold six retail condominiums in Greenwich Village for $34 million today, or $6,700 per square foot, the company said in a statement. The sale price per foot for the properties at 367-369, 382-384 and 387 Bleecker Street between West 11th and Charles streets, was the third highest on record in the United States, according to data from real estate tracking firm REIS, Beck Street said. The buyer was not identified. The spaces are occupied by retail tenants such as Burberry, Michael Kors, Marc Jacobs and A.P.C. Robert Knakal and James Nelson of Massey Knakal represented Beck Street in the transaction. TRD … [more]