SMA Equities buys three Gramercy properties for $28M

Deal includes two buildings and a commercial condo

TRD New York /
May.May 04, 2015 04:00 PM

UPDATED, May 4, 4:40 p.m.: Samy Mahfar’s SMA Equities purchased two Gramercy buildings and a commercial condo for a total of $27.8 million, according to property records filed with the city today.

The buildings, at 297 and 299 Third Avenue between 22nd and 23rd streets, are each three stories and have a combined 13,000 square feet. The lots have a total of 46,000 buildable square feet.

The commercial condo is located next door at 295 Third Avenue.

SMA purchased 299 Third Avenue from Alphas Holding Corp. for $14 million,  297 Third Avenue for $9 million from Fan & Associates, and the commercial condo for $4.8 million from J&T Animals Inc.

Brokers from Friedman-Roth Realty Services represented all parties in the deal, with George Niblock on the buyer’s side and Nadeem Haque and Kevin Nguyen on the sellers’ side.

The developer is currently at work on an 87-unit residential building in Long Island City.

Representatives from SMA did not immediately respond to a request for comment.

Correction: An earlier version of this article stated that the retail condo was in 289 Third Avenue.


Related Articles


Mahfar, Halpern selling new LES rental building for $61M

Stallone-backed boxing gym Rumble inks lease for entire UES building

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

SMA suing Gene Kaufman over botched Nolita condo specs

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

Tenants hold out on landlords offering buyouts

87-unit tower planned for booming Long Island City

Spurred by strong Downtown retail, landlords convert apartments to stores