The Real Deal New York

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Address
Size info
Price
Tenant
Representative
Landlord
Landlord Representative
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Issue
AddressSize InfoPrice (in millions)BuyerBuyer RepresentativeSellerSeller RepresentativeNotesIssue
757 Nostrand Ave, NY
MAP
n/a1n/aMatt Fotis, Marcus & Millichapn/aMatt Fotis, Marcus & Millichap
The property sold for $1.66…
The property sold for $1.66 million, or $268 per square foot. The price represents a capitalization rate of 2 percent. The building was delivered 95 percent vacant.

April 2008
3857-3861 Third Ave, NY
MAP
n/a1Manhattan developern/an/aDavid Canning, Massey Knakal
The vacant site sold for…
The vacant site sold for $1.4 million, or $39 per buildable square foot. The property has approximately 36,858 buildable square feet. The buyer plans to build housing on the site.

April 2008
89 Douglass St, NY
MAP
n/a1Manhattan userNick Arnold, Corcorann/aKen Freeman, Massey Knakal
The walk-up property sold for…
The walk-up property sold for $1.4 million, or $326 per square foot. The price represents a capitalization rate of 5.1 percent and a gross rent multiple of 13.5. Four units are rent-stabilized, two are rent-controlled and two are free-market. The property has an additional 1,200 square feet of air rights.

April 2008
411 Myrtle Ave, NY
MAP
n/a1Brooklyn investorn/an/aMichael Annunziata, Massey Knakal
The property sold for $1.32…
The property sold for $1.32 million, or $330 per square foot. The building contains two one-bedrooms and one two-bedroom on floors two through four. The ground-floor retail space is occupied, but the lease is due to expire by mid-2008.

April 2008
98 Riverside Dr, NY
MAP
n/a300Northbrook Partnersn/aAVJ Realtyn/a
The portfolio sold for more…
The portfolio sold for more than $300 million. The properties include 98 Riverside Drive, 340 East 52nd Street, 56 Seventh Avenue and some condos at 172 West 79th Street. Also included in the deal were 185 Claremont Avenue in the Bronx and 105-05 69th Avenue in Queens.
March 2008
450 West 16th St, NY
MAP
n/a161Stellar Managementn/an/an/a
The property sold for $161…
The property sold for $161 million. The building is home to Milk Studios.
March 2008
180 Madison Ave, NY
MAP
n/a150The Claret Group; Prudentialn/aSitt Asset ManagementDouglas Harmon, Eastdil Secured
The property sold for $150…
The property sold for $150 million, or $540 per square foot. The seller acquired the building four years ago for $91.5 million.
March 2008
511 West 25th St, NY
MAP
n/a97Halcyon Real Estate Investors; Cardinal Real Estate InvestmentS. Siegel, A. Weisman, Grubb & Ellis511 W. 25th Street Corp.S. Siegel, A. Weisman, Grubb & Ellis
The package of offices, storage…
The package of offices, storage and galleries sold for $97.5 million.
March 2008
600 Broadway, NY
MAP
n/a71Alex Adjimin/aEnterprise Asset Managementn/a
The commercial property closed for…
The commercial property closed for $71 million, or more than $1,000 per square foot. The ground-floor retail space is occupied by Pottery Barn.
March 2008
156 William St, NY
MAP
n/a60Capstone EquitiesGeorgia Malone & CompanyAFIAARepresented in-house
The property sold for $60…
The property sold for $60 million, or $240 per square foot. The seller acquired the building more than two years ago for $40.75 million.
March 2008
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