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

Orbach Group buys a Morningside Park rental; Black Spruce purchases five Brooklyn properties

New York /
Jul.July 07, 2015 04:20 PM

1.) Orbach Group purchased a 54-unit rental building in Morningside Park for $15.5 million. The six-story building is located at 320 Manhattan Avenue on the corner of West 114th Street. Orbach acquired the 44,600-square-foot property from Simon Baron Development.

2.) A 3.7-acre development site at 46-73 Metropolitan Avenue in Ridgewood traded hands for $13 million. Patrick Quadrozzi of PMC Development LLC purchased the property from Quadrozzi Realty Corp. The industrial site was used by a cement supplier.

3.) A former funeral home in Flushing, Queens sold for $13 million. The National Memorial Chapel Inc. sold the 15,000-square-foot vacant building at 141-26 Northern Boulevard to a buyer listed as Yin Chou Hou. The property has nearly 55,000 buildable square feet and an additional 30,000 square feet with a community facility.

4.) Christoper DeAngelis’ TriArch Real Estate Group acquired four continguous Washington Heights apartment buildings for $12.1 million. The properties, located at 550, 552, 554 and 556 West 184th streets, are five stories with a combined 56 residential units and two commercial units. The buildings span 48,000 square feet between St. Nicholas and Audubon avenues. The seller, Barberry Rose Management, paid $4.2 million for the properties in 2004.

5.) A bulk of condos in the American-Chinese Tower in Flushing sold for $11.7 million in a bankruptcy auction. The buyers, Winnie and Brian Lam, acquired 11 residential units totaling 8,500 square feet, four community facility units grossing nearly 14,000 square feet and 29 parking spaces at 142-25 37th Avenue.

6.) Josh Gotlib’s Black Spruce Management paid $11.4 million for five Brooklyn apartment buildings. The Gravesend properties include buildings at 2314 West 13th Street, 2315 West 13th Street, 2320 West 11th Street, 2330 West 11th Street and 2302 West 12th Street. The three-story buildings have a combined 51 units and 57,500 square feet. The seller, E&M Associates, acquired the properties in 2006 for $4.8 million.

(Source: ACRIS data for closed sales between June 29-July 5, 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
48-00 Grand Avenue in Maspeth and Prologis CEO Hamid Moghadam (Google Maps; Prologis)

Prologis picks up Maspeth parcel for $51M

Prologis picks up Maspeth parcel for $51M
Clockwise from left: 205 Brook Avenue in the Bronx, 219 Jay Street in Brooklyn, 377 Johnson Avenue in Bushwick and 54-25 58th Street in Maspeth (Google Maps; JLL)

Mid-market investment sales record strong week

Mid-market investment sales record strong week
454 East 148th Street and 5252 Kings Highway (Google Maps; Compass)

Bulk co-op buy in the Bronx tops mid-market investment sales

Bulk co-op buy in the Bronx tops mid-market investment sales
554 Fort Washington Avenue (top) and 235 Gardner Avenue (Google Maps)

East Williamsburg warehouse fetches $28M

East Williamsburg warehouse fetches $28M
SL Green CEO Marc Holliday and 410 Tenth Avenue (Google Maps; SL Green)

SL Green’s Hudson Yards deal is breakthrough for Manhattan’s i-sales market

SL Green’s Hudson Yards deal is breakthrough for Manhattan’s i-sales market
45-16 83rd Street in Queens (Google Maps)

Elmhurst developer buys own condos for $28M

Elmhurst developer buys own condos for $28M
Michael Shvo and the Transamerica Building in San Francisco and  (Unsplash)

Shvo, Deutsche Finance close on Transamerica Pyramid for $650M

Shvo, Deutsche Finance close on Transamerica Pyramid for $650M
arrow_forward_ios

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

Loading...