The Real Deal New York

Here’s what the $10M-$20M NYC investment sales market looked like last week

Park Avenue South Management closes on two Midtown West deals
By Kyna Doles | December 01, 2014 04:40PM

1.) In Manhattan’s Washington Heights neighborhood, a mixed-use building traded hands for $15 million. The six-story elevator at 3820-3826 Broadway, located on the corner of 159th Street, has 43,765 square feet of space and features 38 residential units and five commercial units. An LLC listed as 3820 Broadway was the seller. The two buyers are LLCs listed as Broadway 3820 and Washington Heights Two Partners. 2.) Hudson Equities Ltd. sold a $13.5 million mixed-use property at 501 Hudson Street. Located between West 10th and Christopher Streets in the West Village, the two-story building is 5,570 square feet— with development rights for more than 9,500 square feet. It includes two residential and four commercial units, as well as retail and office space. 3.) A mixed-use building at 824 Ninth Avenue sold for $10.5 million. Park Avenue South Management purchased the six-story Midtown West property. The building features 18 residential units, two commercial units spread over 13,786 square feet. The seller was Rol Realty Company. 4.) Park Avenue South Management also purchased a neighboring building at 826 Ninth Avenue for $10.5 million. The six-story building includes 22 residential units, two ground-level commercial units and 11,184 square feet of space— making it slightly smaller than 824 Ninth Avenue. The seller was Rol Realty Company.

(Source: ACRIS data for closed sales between 11/24 to 11/30, PropertyShark data)