Commercial Sales |
Retail Leases |
Office Leases
Please submit deals to: deals@therealdeal.com
Please submit deals to: deals@therealdeal.com
| Address | Size Info | Buyer | Representative | Seller | Representative | Price | Notes | Issue |
|---|---|---|---|---|---|---|---|---|
| East Harlem portfolio map | 4 apt. bldgs, 119 units total | Latham Properties | n/a | Pinnacle Group; Praedium Group | Massey Knakal | $12.5M | The package of rent-stabilized apartment buildings at 169-175 East 101st Street sold for $12.5 million, or around $100,000 per unit. The buyer reportedly purchased the buildings as an investment, and does not plan to move tenants out to increase rents. One of the sellers, Praedium Group, gave a $2 million mortgage to the buyer. | May 2009 |
| 533-535 West 28th St map | 10,000 sf retail bldg | Robert Gans | n/a | n/a | n/a | $9.58M | The shuttered Scores West building sold for $9.58 million. The property traded for nearly $500,000 less than the price paid by the previous owners in 2004. | May 2009 |
| 12-14 West 68th St map | 2 townhouses, 19 units total | FranPearl Equities | n/a | Danica Realty | n/a | $3.88M | The parcel with two semi-attached townhouses sold for $10.63 million. The purchase included $3.88 million in assumed debt on top of the sale price of $6.75 million. Two of the units in the prewar properties are rent stabilized. | May 2009 |
| 66 West Gunhill Rd (The Bronx) map | 6-story, 51,450 sf apt. bldg, 48 units total | Gjonaj family | Amit Doshi, Besen & Associates | Private investor | Amit Doshi, Besen & Associates | $3.3M | The elevator building sold for $3.3 million, or $64 per square foot. The price represents a capitalization rate of 7.2 percent and a gross rent multiple of 7.6. | May 2009 |
| 25 East Mosholu Pkwy (The Bronx) map | 5-story, 48,840 sf apt. bldg, 55 units total | Mosholu Parkway LLC | Amit Doshi, Besen & Associates | Mosholu Realty LLC | Amit Doshi, Besen & Associates | $3.2M | The prewar walk-up building sold for $3.2 million, or $65 per square foot. The price represents a capitalization rate of 8.8 percent and a gross rent multiple of 6.1. | May 2009 |
| 467 Dean St (Brooklyn) map | 10,000 sf office bldg | Forest City Ratner Companies | n/a | n/a | n/a | $3.0M | The property sold for around $3 million. The building is located in the Atlantic Yards footprint, and is home to the United Union of Roofers, Waterproofers and Allied Workers. It was not immediately clear whether the union would be asked to vacate the property. | May 2009 |
| 24-20 49th St (Queens) map | 24,939 sf industrial bldg | Criterion Group | n/a | n/a | A. Scandalios, J. Julien, Holliday Fenoglio Fowler | $2.88M | The property sold for $2.88 million, or $115 per square foot. The building is 100 percent net leased to Sabra Dipping Company, a Mediterranean food manufacturer. | May 2009 |
| 3246 Kingsbridge Ave (The Bronx) map | 5-story, 24,000 sf apt. bldg, 32 units total | Private investor | A. Doshi, L. Blumberg, Besen & Associates | NDG Management Co. | A. Doshi, L. Blumberg, Besen & Associates | $2.5M | The walk-up building sold for $2.5 million. The price represents a gross rent multiple of 8.6 and a price per unit of $78,000. | May 2009 |
| 855 Humboldt St (Brooklyn) map | 8,315 sf industrial bldg | n/a | n/a | n/a | Mark Lively, Massey Knakal | $1.35M | The one-story industrial property sold for $1.35 million, or $162 per square foot. The building is currently occupied by three tenants, but the buyer plans to use the space as a warehouse for its retail business. | May 2009 |
| 40-08 Bell Blvd (Queens) map | 2-story, mixed-use bldg | 1031 exchange buyer | n/a | n/a | M. Alper, T. Ellner, WRA Properties | $1.25M | The property sold for $1.25 million. The ground-floor retail space is occupied by Dunkin' Donuts, which has 15 years remaining on its lease. The two upper-floor apartments were delivered vacant. | May 2009 |
| 35-20-22 102nd St (Queens) map | Two 2-story apt. bldgs, 12 units total | n/a | n/a | n/a | Swain Weiner, Massey Knakal | $1.03M | The pair of walk-up apartment buildings sold for $1.03 million, or $271 per square foot. Each building contains four one-bedrooms and two two-bedrooms. | May 2009 |
| 1540 Broadway map | 905,533 sf office condo interest | CBRE Investors | n/a | Deutsche Bank | Eastdil Secured | $355.0M | A majority condo interest in the 44-story office building sold at an estimated price of about $355 million, or $392 per square foot. The tower is the sixth building to sell from the $7 billion portfolio Harry Macklowe purchased from Equity Office Properties in 2007. Macklowe was forced to surrender the properties after he defaulted on his debt to lender Deutsche Bank, which put the seven buildings up for sale. Worldwide Plaza at 825 Eighth Avenue is the package's only property that remains on the market. | April 2009 |
| 620 Eighth Ave (New York Times Building) map | Sale-leaseback of 21 floors, 750,000 sf total | WP Carey & Co. | n/a | The New York Times Company | A. Sachs, M. Rotchford, C&W | $225.0M | WP Carey & Co. purchased the office space in a $225 million sale-leaseback transaction. The Times Company's lease extends for 15 years, with an option to repurchase the space for $250 million in the 10th year of the lease. The company will pay $24 million in rent the first year and more in subsequent years, and will use the proceeds from the sale to pay down debt. | April 2009 |
| 234 West 48th St (Best Western President Hotel) map | 16-story, 117,102 sf hotel | Investcorp affiliate | n/a | Hampshire Hotels | n/a | $142.0M | The long-term ground lease for the hotel was purchased for $142 million. | April 2009 |
| 63 West 35th St map | 31-story hotel, 298 rooms total | RLJ Development | n/a | Brack Capital Real Estate | n/a | $121.2M | The recently opened hotel sold for $121.2 million. The sale had gone into contract in January 2008. Brack Capital bought the original site, a six-floor parking garage, in 2007 from Icon Parking for $31 million, and developed the hotel. The hotel had a soft opening on Feb. 26 and officially opened March 1. | April 2009 |
| 330 West 40th St map | 33-story hotel, 244 rooms total | Gehr Development | n/a | The Lam Group | n/a | $99.5M | The Fairfield Inn New York Manhattan/Times Square South sold for $99.5 million. The hotel opened in February in a newly constructed building. This was the Los Angeles-based buyer's first purchase in New York City. | April 2009 |
| 488 Seventh Ave map | 13-story, 78,200 sf mixed-use bldg | Torkian International | n/a | Swift Park | n/a | $45.3M | The property sold for $45.3 million, or around $580 per square foot. The buyer assumed a $25 million mortgage as part of the deal. | April 2009 |
| 2829 Sedgwick Ave (The Bronx) map | 7-story, 139,922 sf apt. bldg, 100 units total | Parkash 2829 LLC | Amit Doshi, Besen & Associates | Sedgwick Associates LLC | Amit Doshi, Besen & Associates | $9.08M | The prewar elevator building sold for $9.08 million, or $65 per square foot. The price represents a capitalization rate of 7.4 percent and a gross rent multiple of 7.9. | April 2009 |
| 619-623 West 113th St map | 5-story apt. bldg | Columbia University | n/a | The Community of the Holy Spirit | n/a | $8.75M | The property sold for $8.75 million. | April 2009 |
| 2305 12th Ave map | 3-story industrial bldg | Columbia University | n/a | 2305 Holding LLC | n/a | $4.9M | The property sold for $4.9 million. The building is located on a 7,000-square-foot lot with a maximum floor-area ratio of 41,952 square feet. The parcel is included in a 17-acre site in Harlem north of 125th Street where the university is planning a $6 billion expansion over the next 25 years. | April 2009 |
| 109 Montague St (Brooklyn) map | 5-story, 8,125 sf apt. bldg | n/a | n/a | n/a | S. Palmese, P. Smadbeck, Massey Knakal | $3.7M | The property sold for $3.7 million, or $455 per square foot. The price represents a capitalization rate of 5.5 percent. The building contains eight one-bedroom apartments and one store, which will be delivered vacant. The apartments are comprised of four free-market units, three rent-stabilized units and one rent-controlled unit. | April 2009 |
| 42-02 21st St (Queens) map | 9,200 sf development site | n/a | n/a | n/a | Al Holloman, Massey Knakal | $3.33M | The vacant gas station sold for $3.33 million, or $362 per square foot. The property is zoned M1-4 and has a floor-area ratio of 2, allowing for a commercial development of 18,400 square feet. | April 2009 |
| 9102 Third Ave (Brooklyn) map | 4-story, 6,480 sf mixed-use bldg | Clearview 9102 LLC | Jennifer Small, Time Equities | Damas Realty LLC | Three Star Realty | $2.08M | The residential and retail property sold for $2.08 million, or $321 per square foot. The building is comprised of nine apartments and three retail units. | April 2009 |
| 1605 Mayflower Ave (The Bronx) map | 3-story, 12,120 sf apt. bldg, 16 units total | Mayflower Properties LLC | A. Doshi, L. Blumberg, Besen & Associates | Terra Realty Company | Amit Doshi, Besen & Associates | $1.7M | The property sold for $1.7 million, or $140 per square foot. The price represents a capitalization rate of 7 percent and a gross rent multiple of 8.5. The building has two stores on the ground floor. | April 2009 |
| 148 West 141st St map | 5-story, 10,770 sf apt. bldg, 30 units total | CRP West 141st Street LLC | Amit Doshi, Besen & Associates | 148 West 141st Street LLC | Shallini Mehra, Besen & Associates | $1.6M | The property sold for $1.6 million, or $148 per square foot. The price represents a capitalization rate of 12.2 percent and a gross rent multiple of 5.4. |
April 2009 |
| 2174 86th St (Brooklyn) map | 2-story, 2,090 sf retail bldg | n/a | n/a | n/a | Jeffrey Shalom, Massey Knakal | $1.2M | The property sold for $1.2 million, or $574 per square foot. | April 2009 |
| 1334 York Ave map | 10-story, 493,000 sf comm. bldg | Sotheby's | n/a | RFR Holding Corp. | n/a | $370.0M | Sotheby's auction house repurchased its headquarters for $370 million. The company assumed the building's existing $235 million mortgage and paid the remaining $135 million in cash. Sotheby's had sold the building to RFR Holding Corp. for $175 million in 2002 to help pay off regulatory fines, and then leased the property back. | March 2009 |
| 107-145 West 135th St map | Ten 6-story apt. bldgs, 198 units total | Rose Smart Growth Investment Fund I | n/a | n/a | n/a | $26.5M | The affordable housing complex sold for $26.5 million to an investment fund that focuses on converting buildings into eco-friendly properties. The buyer plans to invest $4 million into the buildings, which include 163,000 square feet of residential and retail space. | March 2009 |
| 1627 Broadway map | Land lease | United American Land | n/a | Rockefeller Group | J. Caplan, S. Latham, R. Baxter, R. Cohen, C&W | $26.0M | The land lease under the property sold for $26 million. The buyer paid $9.1 million in cash and took out a $16.9 million mortgage to complete the deal. The ground lease for the land, which is owned by the Charles Mogull family, lasts until 2058. Around 120,000 feet could be developed on the land with air rights taken into consideration. | March 2009 |
| Upper East Side portfolio map | Three 5-story apt. bldgs, 29 units total | UES De LCC | n/a | n/a | n/a | $14.5M | A package of three prewar buildings sold together for $14.5 million. The property at 354 East 89th Street sold for $4.5 million, and the two buildings at 1711 and 1713 First Avenue sold for $5 million each. | March 2009 |
| 429 West Broadway map | 7,800 sf retail co-op | Scavolini USA | M. Glanzberg, C. Owles, Sinvin Realty | Nancy Hoffman Gallery | M. Stone, M. Glanzberg, C. Owles, Sinvin Realty | $11.0M | The duplex retail co-op sold for $11 million to the Italian cabinet and kitchen designer. The buyer plans to open its flagship store in fall 2009. | March 2009 |
| 150 West 13th St map | 4-story, 4,000 sf townhouse | City and Country School | n/a | The National Psychological Association for Psychoanalysis | n/a | $9.0M | The private school repurchased the building for $9 million after having sold it to the psychological association in 1970. The townhouse, which will be converted into classrooms, is next door to the school's main location at 146 West 13th Street. | March 2009 |
| 634 Hudson St map | 9,324 sf apt. bldg, 20 units total | 634 Street LLC | Roberto Ortiz, Eastern Consolidated | 634 Hudson Street Corp. | S. Schneider, D. Glaser, Eastern Consolidated | $7.25M | The property sold for $7.25 million, or $778 per square foot. The price represents a gross rent multiple of 16. The building also has a store on the ground floor. | March 2009 |
| 464 Greenwich St map | 5-story, 7,040 sf apt. bldg | n/a | n/a | n/a | James Nelson, Massey Knakal | $5.5M | The walk-up building sold for $5.5 million, or $781 per square foot. The property has a retail space on the ground level with lofts on the upper floors. | March 2009 |
| 253-256 Broadway map | 9,169 sf comm. condo | The City of New York | n/a | City Hall Commons of Mineola | n/a | $5.5M | The commercial condo sold for $5.5 million. The 15-story building is broken into three commercial condos, two of which are now owned by the city. The city bought its first condo, a 227,033-square-foot unit, in 1989. The third condo is a 31,235-square-foot retail space owned by City Hall Commons, according to city records. | March 2009 |
| 147 West 111th St map | 5-story apt. bldg, 10 units total | n/a | n/a | n/a | Massey Knakal | $3.9M | The prewar walk-up building sold for $3.9 million. All 10 units are four-bedrooms. | March 2009 |
| 1049 and 1153 Boynton Ave (The Bronx) map | 2 apt. bldgs, 44 units total | Private investor | P. Von Der Ahe, M. Barbaccia, Marcus & Millichap | n/a | P. Von Der Ahe, M. Barbaccia, Marcus & Millichap | $2.25M | The package of apartment buildings sold for $2.25 million. The 1049 Boynton Avenue property has seven two-bedrooms and 13 one-bedrooms, and 1153 Boynton Avenue contains five two-bedrooms and 19 one-bedrooms. Both buildings have an additional 3,693 square feet of developable air rights under current zoning regulations. | March 2009 |
| 283 West 147th St map | 6-story apt. bldg, 23 units total | Private investor | n/a | Private investor | Massey Knakal | $2.24M | The walk-up building sold for $2.24 million, or around $200 per square foot. The price represents a gross rent multiple of around 10. | March 2009 |
| 37-64 64th St (Queens) map | 4-story, 9,632 sf apt. bldg, 16 units total | n/a | Itzhaki Properties | n/a | Itzhaki Properties | $2.1M | The walk-up building sold for $2.1 million, or around $130,000 per unit. The price represents a capitalization rate of 5.6 percent. Monthly rents at the property average around $950 per apartment. | March 2009 |
| 1474 Third Ave map | 3 retail condos, 1,015 sf total | n/a | n/a | Spandrel Property Services | J. Nelson, T. Gammino, Massey Knakal | $1.7M | The three retail units sold for $1.7 million. Two of the units are leased through August 2012, and the third is vacant. | March 2009 |
| 820 Second Ave map | 2,337 sf office condo | K&A Medical Management | n/a | Diplomat Centre LLC | Michael Rudder, Time Equities | $1.7M | The office condo sold for $1.7 million to a spine- and sports-medicine specialist. | March 2009 |
| 726 Broadway map | 10-story, 350,000 sf office bldg | New York University | n/a | Guardian Life Insurance Company of America | n/a | $210.0M | The sale of the building closed for $210 million in December after having gone into contract in 2007. The property last sold in 1999 for $55.2 million. NYU was renting over 50 percent of the building for offices at the time of closing. | February 2009 |
| 516 West 34th St map | 12-story, 265,000 sf office bldg | Coach | n/a | Bauman 34th Street; Goldberg 34th Street | n/a | $126.3M | The handbag and luggage company closed on its purchase of its West Side corporate headquarters for $126.3 million. The firm paid $103.3 million and assumed $23 million in loans on the building. | February 2009 |
| 1133 York Ave map | 4-story, 46,191 sf comm. bldg | Memorial Sloan-Kettering Cancer Center | n/a | Witkoff York LLC | n/a | $42.0M | The property sold for $42 million. The building is located six blocks south of the hospital's main location at 1275 York Avenue, at 67th Street. | February 2009 |
| 110 East 40th St map | 9-story office bldg | Philips International | Represented in-house | n/a | John Ciraulo, Massey Knakal | $35.0M | The property sold for $35 million. The buyer plans to create office condos between 2,364 and 11,093 square feet, with asking prices of around $975 per square foot. | February 2009 |
| 58 Washington Sq South map | 21,639 sf church bldg | The Archdiocese of New York | n/a | New York University | n/a | $25.0M | NYU received approval from the Manhattan Supreme Court to purchase the long-sought-after property for $25 million. The New York Times reported that the university tried to buy the parcel in the 1990s as part of the development of a student complex, but the deal fell through. | February 2009 |
| 415 West 13th St map | 5-story comm. bldg | Premier Equities | n/a | n/a | n/a | $18.0M | The property sold for $18 million. | February 2009 |
| 64 Wooster St map | 8-story comm. bldg | Zar Property | n/a | n/a | n/a | $12.65M | The property sold for $12.65 million. | February 2009 |
| 644 East 14th St map | Development site | n/a | n/a | n/a | J. Nelson, B. Gotch, B. Simons, R. D'Andrea, Massey Knakal | $12.3M | The property sold for $12.3 million. The lot has a total buildable square footage of around 36,125 square feet for residential use, or 68,262 square feet for a community facility. | February 2009 |
| 306 East 15th St map | 5-story, 7,425 sf mixed-use townhouse | Stuyvesant Square Brownstone LLC | n/a | Cofinance Inc. affiliate | J. Nelson, B. Gotch, B. Simons, R. D'Andrea, Massey Knakal | $5.18M | The property sold for $5.18 million, or $698 per square foot. The buyer plans to develop the townhouse into an Orthopedic Language and Research Center with residential units on the upper floors. | February 2009 |
| 8200 Bay Pkwy (Brooklyn) map | 4-story apt. bldg, 32 units total | n/a | Aaron Jungreis, Rosewood Realty | n/a | Aaron Jungreis, Rosewood Realty | $5.15M | The property sold for $5.15 million. The price represents a gross rent multiple of 11. | February 2009 |
| 2201 86th St (Brooklyn) map | 2-story, 9,900 sf retail bldg | n/a | n/a | n/a | Jeffrey Shalom, Massey Knakal | $5.0M | The property sold for $5 million, or $505 per square foot. The building has 55 feet of frontage on 86th Street and 90 feet of frontage on Bay Parkway. | February 2009 |
| Jerome Ave and East 208th St (The Bronx) map | 9,280 sf retail bldg, 9 stores total | n/a | n/a | n/a | A. Ramos, E. Lau, Berko & Associates | $4.74M | The property sold for $4.74 million, or around $511 per square foot. The retail strip has 100 feet of frontage each on Jerome Avenue and on East 208th Street. | February 2009 |
| 336 West 15th St map | Development site | n/a | n/a | n/a | B. Emmetsberger, J. Nelson, Massey Knakal | $3.55M | The vacant plot of land sold for $3.55 million. | February 2009 |
| 78 East 2nd St map | 5-story townhouse | n/a | Felise Gross, Brown Harris Stevens | n/a | J. Nelson, B. Gotch, B. Simons, R. D'Andrea, Massey Knakal | $3.3M | The multifamily property sold for $3.3 million. The building was delivered vacant. | February 2009 |
| 36 West 44th St map | 4,045 sf office condo | The New York Genealogical and Biographical Society | J. Dayan, A. Ben-Dayan, Winoker Realty | TGG Holdings; CitySites Commercial Group | J. Dayan, A. Ben-Dayan, Winoker Realty | $3.03M | The seventh-floor office condo sold for $3.03 million, or around $800 per square foot. | February 2009 |
| 455-459 61st St (Brooklyn) map | Two 4-story apt. bldgs, 32 units total | n/a | Ivan Hakimian, Itzhaki Properties | n/a | Ivan Hakimian, Itzhaki Properties | $2.7M | The pair of walk-up buildings, totaling 27,520 square feet, sold for $2.7 million, or around $85,000 per unit. The price represents a gross rent multiple of 7.5. | February 2009 |
| 36 West 44th St map | 1,635 sf office condo | Solari Real Estate | Elliott Rackman, CitySites Commercial Group | TGG Holdings; CitySites Commercial Group | J. Dayan, A. Ben-Dayan, Winoker Realty | $1.64M | The seventh-floor office condo sold for $1.64 million, or $1,000 per square foot. | February 2009 |
| 10th Ave and 15th St map | 20,000 sf development site | Real Estate Equities | n/a | Milk Studios | n/a | $60.0M | The site of a Mobil gas station and a car wash sold for about $60 million. | January 2009 |
| 38 West 32nd St map | 16-story, 132,844 sf office bldg | 38 Roosevelt Lee LLC | n/a | n/a | n/a | $56.5M | The commercial building sold for $56.5 million, or $425 per square foot. The property last sold for $27 million four years ago. | January 2009 |
| 37 West 24th St (Wyndham Garden Hotel Manhattan Chelsea West) map | 17-story hotel, 124 rooms total | Gemini Real Estate Advisors | n/a | McSam Hotel Group | n/a | $39.06M | The hotel sold for $39.06 million. It opened in early November. | January 2009 |
| 419-35 and 445 Hicks St (Brooklyn) map | Nine 6-story apt. bldgs, 188 units total | Hudson Companies | n/a | n/a | Kenneth Freeman, Massey Knakal | $34.0M | The portfolio of adjacent walk-up buildings was sold to a joint venture in a transaction valued at $34 million. The apartment complex, known as Cobble Hill Towers, contains 186 rent-stabilized units and two free-market units. | January 2009 |
| 7 Teleport Dr (Staten Island) map | Two 3-story office bldgs, 300,000 sf total | Local developer | n/a | Murray Construction; Silverstein Properties | n/a | $25.0M | The two vacant office buildings sold for $25 million. The properties, formerly known as Teleport I and II, will undergo a $10 to $15 million renovation and will be renamed Corporate Commons I and II. | January 2009 |
| 220 East 65th St map | 20,000 sf office condo | Noyack Medical Partners | n/a | n/a | n/a | $13.5M | The commercial portion of the condo building sold for $13.5 million, or $675 per square foot. | January 2009 |
| 318 West 22nd St (Colonial House Inn) map | 20-room hotel | 318 West 22nd Street LLC | C. Crowley, Olshan Realty; W. Newell, Reilly Mann Newell Realty Group | n/a | n/a | $6.58M | The bed-and-breakfast inn sold for $6.58 million. | January 2009 |
| 2115 Ryer Ave (The Bronx) map | 6-story, 59,520 sf apt. bldg, 69 units total | n/a | Joshua Zellner, Zellner Realty Corp. | n/a | Joshua Zellner, Zellner Realty Corp. | $6.2M | The elevator building sold for $6.2 million, or $104 per square foot. The price represents a capitalization rate of 8 percent and a gross rent multiple of 7.8. | January 2009 |
| 464 Greenwich St map | 5-story, 7,040 sf mixed-use bldg | n/a | n/a | n/a | James Nelson, Massey Knakal | $5.5M | The walk-up loft building with ground-level retail sold for $5.5 million, or $781 per square foot. | January 2009 |
| 179-26/44 Jamaica Ave (Queens) map | Development site | Storage Deluxe | n/a | 179-50 Jamaica Avenue LLC | n/a | $5.5M | The development site sold for $5.5 million. The buyer plans a self-storage facility of more than 100,000 square feet. | January 2009 |
| 208-220 Clarkson Ave (Brooklyn) map | 2-story, 43,200 sf comm. bldg | n/a | n/a | n/a | Rene Santiago, Massey Knakal | $4.95M | The property sold for $4.95 million, or $115 per square foot. The building is occupied by a garage on the second floor and by a retail tenant on the ground floor. | January 2009 |
| 442 Sixth Ave map | 3-story, 3,762 sf apt. bldg | n/a | Inbal Himelblau, Itzhaki Properties | n/a | Ivan Hakimian, Itzhaki Properties | $4.58M | The multifamily property with ground-level retail sold for $4.58 million. | January 2009 |
| 322 West 15th St map | 4-story, 5,750 sf mixed-use bldg | n/a | n/a | n/a | Brock Emmetsberger, Massey Knakal | $4.35M | The property sold for $4.35 million, or $757 per square foot. The building has a restaurant space on the ground floor and three free-market units above. A carriage house with two rent-controlled tenants is also part of the property. | January 2009 |
| 27-28 Thomson Ave (Queens) map | 41,924 sf garage, 202 spaces total | n/a | E. Anton, R. Solarz, D. Schechtman, Eastern Consolidated | n/a | E. Anton, R. Solarz, D. Schechtman, Eastern Consolidated | $4.3M | The garage at the base of the Arris Lofts condo building sold for $4.3 million, or $103 per square foot. | January 2009 |
| 416 Eighth Ave map | 2-story, 2,500 sf retail bldg | The Riese Organization | n/a | Penn Bar & Grill Inc. | n/a | $4.0M | The corner retail property sold for $4 million. The buyer exercised its option to purchase the building for a fixed price after having signed a 10-year lease in 2000. The site, which houses a Brother Jimmy's BBQ restaurant, has a maximum buildable square footage of 21,000. | January 2009 |
| 227-33 West 17th St map | Retail co-op | Italian kitchen manufacturer | n/a | n/a | Brock Emmetsberger, Massey Knakal | $3.9M | The ground-level retail co-op with 100 feet of frontage sold for $3.9 million. The buyer plans to use the space as a showroom. | January 2009 |
| 1090 Leggett Ave (The Bronx) map | 43,636 sf industrial bldg | Industrial user | n/a | n/a | Nick Burns, Massey Knakal | $3.0M | The property sold for $3 million, or $108 per square foot. The site has a 27,790-square-foot structure and vacant land totaling 15,846 square feet. The property is zoned M3-1 with a floor-area ratio of 2, and an as-of-right industrial development of up to 87,274 square feet is permitted. | January 2009 |
| 411 17th St (Brooklyn) map | 12-unit apt. bldg | n/a | Matthew Fotis, Marcus & Millichap | n/a | Matthew Fotis, Marcus & Millichap | $2.37M | The multifamily property sold for $2.37 million, or $237 per square foot. The new owner plans to renovate the building, which was delivered vacant. | January 2009 |
| 201 East Mosholu Pkwy (The Bronx) map | 6-story apt. bldg, 20 units total | 201 Mosholu LLC | n/a | 201 East Mosholu LLC | B. Reilly, W. Newell, Reilly Mann Newell Realty | $2.0M | The multifamily property sold for $2 million, or $81 per square foot. The price represents a capitalization rate of 6 percent and a gross rent multiple of 9. | January 2009 |
| 41-50 46th St (Queens) map | 4-story, 11,532 sf apt. bldg, 16 units total | Local investor | n/a | n/a | Stephen Preuss, Massey Knakal | $1.65M | The walk-up property sold for $1.65 million, or $142 per square foot. The rent-stabilized building contains 12 two-bedrooms and four one-bedrooms. | January 2009 |
| 305 East 88th St map | 700 sf office co-op | n/a | Tim Parkkila, NYCRS | Terris Management | Eva Eng, Prudential Douglas Elliman | n/a | The fourth-floor commercial co-op sold for an undisclosed price. | January 2009 |
| 148 West 48th St map | 6-story, 48,700 sf garage | The Rockefeller Group Development Corporation | n/a | Sun Garage Company | n/a | $62.5M | The garage sold for $62.5 million, or $1,283 per square foot. The buyer holds a 99-year lease on a neighboring building. The garage site has a maximum buildable square footage of 90,373. | December 2008 |
| 59 West 35th St map | 146-unit hotel | MMG-35 LLC | n/a | McSam Hotel Group | n/a | $46.34M | The recently opened Hampton Inn hotel sold for $46.34 million. McSam had purchased the property in 2005 for $13.25 million. | December 2008 |
| 1390 Third Ave map | 7,300 sf retail co-op | Local investor | n/a | n/a | G. Dana, R. Dana, A. Lederman, Prudential Douglas Elliman | $20.0M | The retail portion of the co-op apartment building sold for around $20 million. | December 2008 |
| 204 West 108th St map | 6-story, 42,186 sf apt. bldg, 49 units total | LM 204 W. 108 LLC | David Kalish, Eastern Consolidated | IGPF Canterbury LLC | D. Gutoff, R. Rogovin, B. Ezratty, Eastern Consolidated | $16.75M | The prewar apartment building sold for $16.75 million, or $397 per square foot. The seller had acquired the property three years earlier for $10.4 million. | December 2008 |
| 2338 Hermany Ave (The Bronx) map | 193,000 sf industrial bldg | Clarendon Holdings | Crosstown Realty | Atlantic Development | Peter Cokin, NAI Friedland Realty | $14.0M | The property sold for $14 million. | December 2008 |
| 49 West 33rd St map | 4-story, 17,160 sf office bldg | KC129-09 LLC | n/a | 4933 Realty LLC | n/a | $10.5M | The property sold for $10.5 million. The seller had acquired the building in June 2007 for $7 million. | December 2008 |
| 42-43 Ithaca St (Queens) map | 6-story apt. bldg, 67 units total | Queens investor | Yosef Katz, GFI Realty | n/a | Yosef Katz, GFI Realty | $8.5M | The property sold for $8.5 million, or about $127,000 per unit. The building has an indoor parking garage. | December 2008 |
| 700 Ocean Ave (Brooklyn) map | 6-story apt. bldg, 66 units total | Local investor | Michael Kerwin, GFI Realty | n/a | Michael Kerwin, GFI Realty | $7.5M | The elevator building sold for $7.5 million, or around $113,000 per unit. The price represents a gross rent multiple of 11.2. The buyer plans to renovate the property. | December 2008 |
| 327 and 329 West 22nd St map | Two 4-story apt. bldgs, 16 units total | Manhattan user | n/a | n/a | J. Nelson, B. Emmetsberger, Massey Knakal | $7.35M | The two adjacent properties sold for $7.35 million, or $727 per square foot. The buildings include 10 free-market units, five rent-stabilized units and one rent-controlled unit. | December 2008 |
| 32-21/32-25 Francis Lewis Blvd (Queens) map | 2-story, 24,000 sf retail bldg | Monroe LLC | Adam Stupak, Winick Realty | n/a | Adam Stupak, Winick Realty | $7.3M | The retail building sold for $7.3 million, or $304 per square foot. The property contains nine ground-floor retail units as well as commercial space on the upper floor. | December 2008 |
| 590 West 204th St map | 6-story, 44,795 sf mixed-use bldg, 57 units total | n/a | Joshua Zellner, Zellner Realty Corp. | n/a | Joshua Zellner, Zellner Realty Corp. | $7.08M | The property sold for $7.08 million, or $158 per square foot. The price represents a capitalization rate of 6.4 percent and a gross rent multiple of 10.5. The average monthly rent per apartment is $851. | December 2008 |
| 38 East 57th St map | 13-story, 30,000 sf office bldg | Macklowe Properties affiliate | n/a | Sovereign Partners | n/a | $5.35M | The lease on the property sold for $5.35 million. Macklowe Properties had purchased the building for $60 million in February 2007 to include it in the Park Avenue Drake Hotel development, but Sovereign Partners held a lease for the entire property. | December 2008 |
| 47-60 39th Pl (Queens) map | 4-story apt. bldg, 32 units total | n/a | Nadeem Haque, Extreme Realty | n/a | Nadeem Haque, Extreme Realty | $4.43M | The walk-up property sold for $4.43 million. Twenty-two of the 32 apartments were delivered vacant. | December 2008 |
| 227-33 West 17th St map | 4,000 sf retail co-op | n/a | n/a | n/a | Brock Emmetsberger, Massey Knakal | $3.9M | The ground-floor commercial unit sold for $3.9 million, or $975 per square foot. | December 2008 |
| 32-47 Queens Blvd (Queens) map | 2-story, 14,375 sf industrial bldg | Queens developer | n/a | n/a | Stephen Preuss, Massey Knakal | $3.8M | The property sold for $3.8 million, or $264 per square foot. The buyer plans to demolish the building to make way for a 60-room hotel. | December 2008 |
| 748 St. Marks Ave (Brooklyn) map | 6-story apt. bldg, 36 units total | n/a | Rosewood Realty | n/a | Rosewood Realty | $3.0M | The elevator building sold for $3 million. The price represents a gross rent multiple of 7.7. | December 2008 |
| 366 Myrtle Ave (Brooklyn) map | 4-story, 3,400 sf mixed-use bldg | Local user | n/a | n/a | Massey Knakal | $1.1M | The property sold for $1.1 million, or $324 per square foot. The building has two vacant commercial spaces and six apartments, including four two-bedrooms and two one-bedrooms. The property has an additional 2,000 square feet of air rights. | December 2008 |
| 22-44 Church Ave (Brooklyn) map | 23,000 sf retail bldg | Brooklyn investor | Allison Chambers, Kalmon Dolgin Affiliates | n/a | Bob Klein, Kalmon Dolgin Affiliates | n/a | The investor purchased a 49-year ground lease for the vacant property. The price was not disclosed. An IHOP restaurant will replace a shuttered White Castle on the site. | December 2008 |
| 200 East 66th St (Manhattan House) map | 102,842 sf retail condo | Madison Capital | n/a | O'Connor Capital Partners | Eastdil Secured | $86.0M | The commercial portion of the property sold for $86 million. The purchase includes seven ground-level stores, four professional office spaces and a parking garage. Manhattan House is undergoing a $1.1 billion conversion to condos. | November 2008 |
| Upper Manhattan portfolio map | 21 apt. bldgs, 418,230 sf total | n/a | n/a | n/a | R. Knakal, R. Shapiro, S. Shkury, Massey Knakal | $54.0M | The portfolio of five- and six-story walk-up buildings sold for $54 million. The properties are located at 463-467 West 159th Street; 2180-2182 Amsterdam Avenue; 503-507 West 176th Street; 531 West 179th Street; 704 West 180th Street; 559-561 West 183rd Street; 510-524 West 184th Street; 507 West 184th Street; 515 West 184th Street; 516-520 West 188th Street; 283-285 Audubon Avenue; 70-72 Pinehurst Avenue; 500 West 190th Street; and 234-236 East 118th Street. The buildings contain 500 apartments and 12 commercial units. | November 2008 |
| 210 West 76th St map | Development site | 2148 Broadway Holdings LLC; 210 West 76th St Continental LLC | J. Rosales, R. Ancona, Lee Odell Real Estate | Downtown Realty Associates | J. Rosales, R. Ancona, Lee Odell Real Estate | $36.5M | The garage sold for $36.5 million. The developers acquired an adjacent site at 2148 Broadway with plans for a 24-story, 260,000-square-foot residential tower. | November 2008 |
