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

Extell buys a Diamond District building; Dalan acquires Nolita apartments

New York /
Jun.June 16, 2015 12:30 PM

UPDATED, 1:55 p.m., June 16: 1.) Gary Barnett’s Extell Development acquired a low-rise commercial building at 25 West 47th Street from Michael Toback for $15.4 million. The two-story Diamond District building, located between Fifth and Sixth avenues, has 5,630 square feet of retail space and nearly 28,800 buildable square feet. Extell owns the nearby International Gem Tower at 50 West 47th Street.

2.) Marin Management purchased a pair of adjacent apartment buildings at 1516 First Avenue and 1518 First Avenue for $14.7 million. The Yorkville properties are four stories with a combined 18 residential units and four retail units. Jack Resnick & Sons is the seller.

3.) Daniel and Andrew Wrublin’s Dalan Management Associates and RWN Real Estate Partners purchased a Nolita apartment building for $14.6 million. The six-story property at 233 Elizabeth Street, between East Houston and Prince streets, has 27 residential units and three retail units totaling 16,781 square feet. Gordon Chin, Lotus Leong and Nany Lee are the sellers. Dalan recently acquired two Midtown buildings for $36 million at 10 East 33rd Streetand 12 East 33rd Street for $36 million.

4.) The California-based Geological Institute of America is expanding its space at Extell Development’s International Gem Tower. The research institute paid $13 million for ninth-floor laboratory and research space in the 36-story Midtown tower at 50 West 47th Street. GIA moved its operations from 580 Fifth Avenue to the new Midtown location.

A previous version of the story incorrectly stated the size of 233 Elizabeth Street

(Source: ACRIS data for closed sales between June 8-14, and Reonomy data)


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
(iStock/Illustration by Kevin Rebong for The Real Deal)
NYC investment sales hit multi-year peak to end 2021
NYC investment sales hit multi-year peak to end 2021
A photo illustration of 51-53 East 73rd St, 300 De Witt Ave, 137 Bayard Street and 3044 Coney Island Ave (LoopNet, Rosewood Realty Group/Illustration by Steven Dilakian for The Real Deal)
Ten mid-market investment sales to start your day
Ten mid-market investment sales to start your day
(Illustration by The Real Deal)
Manhattan investment sales top pre-pandemic levels in Q4 comeback
Manhattan investment sales top pre-pandemic levels in Q4 comeback
Renderings of 80 South Street (Oceanwide Holdings, iStock)
Chinese developer defaults on $175M loan for languishing Manhattan supertall site
Chinese developer defaults on $175M loan for languishing Manhattan supertall site
Ashkenazy Acquisition Corporation's Ben Ashkenazy; Clipper Equity’s David Bistricer; Fetner's Hal Fetner; L+M Development Partners's Ron Moelis (Google Maps, Ashkenazy Acquisition Corporation, Fetner, Clipper Equity, L+M Development Partners)
Everything must go: I-sales skyrocket in year-end blowout
Everything must go: I-sales skyrocket in year-end blowout
836 Broadway, 72-79 Warren Street, 82-89 West Broadway, 1124 First Avenue, 290 Dyckman Street, and 2957 Shell Road (Google Maps)
17 investment sales make for a year-end smorgasbord
17 investment sales make for a year-end smorgasbord
6R Capital Realty's Shai Shamir with 70-74 Warren Street (left) and 80-88 West Broadway (IAC, Google Maps)
As Brack Capital shutters in NY, former CEO bets on Tribeca
As Brack Capital shutters in NY, former CEO bets on Tribeca
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...