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

Gluck's Stellar lands an East Village retail site; Joyce Theatre buys a Chelsea venue

TRD New York /
Sep.September 08, 2015 05:55 PM

1.) The Orbach Group purchased an affordable housing building at 107-113 West 109th Street from Tahl Properties for $18 million. The 49-unit multifamily building sits between Broadway and Amsterdam Avenue in Morningside Park. Tahl Properties acquired the 31,000-square-foot building in 2007 for $7 million. In July, Orbach picked up a 54-unit multifamily building in the same neighborhood for $15.5 million.

2.) The Joyce Theatre Foundation acquired ownership of its Chelsea theatre for $16 million from Elliot Feld’s Ballet Tech Foundation and the Original Ballet Foundations. The dance theatre company has operated the 472-seat venue at 175 Eighth Avenue since 1982 and sold its Soho location in 2012 for $27 million, which helped fund the acquisition.

3.) Great Neck-based East Coast Management LLC purchased Sugar Hill Capital Partners’ multifamily building at 125 Seaman Avenue for $15.8 million. The six-story, 48-unit building is located between West 204th and 207th streets in Inwood. Sugar Hill paid $9.5 million for the 42,000-square-foot rental building last year.

4.) Larry Gluck’s Stellar Management shelled out $12 million for a JPMorgan Chase bank at 130 Second Avenue in the East Village. The two-story, 7,000-square-foot retail building, on the corner of St. Mark’s Place, has an additional 2,000 buildable square feet, although no plans for a new development have been filed yet. Icon Realty and Stellar also own the adjacent 24-unit multifamily building at 128 Second Avenue.

5.) The Haimof Group, led by Kamyar Haimof, purchased a pair of Williamsburg rental buildings from Madison Realty Capital for $10.2 million. The contiguous buildings, located at 409-413 Broadway between Hooper and Hewes streets, have a combined 20 units, ground-floor retail and span 22,000 square feet. Madison paid $8.23 million for the buildings in 2013.

(Source: ACRIS data for closed sales between August 31- 6, 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

Investment sale dollar volume in Brooklyn fell 30% in 2019, the biggest drop since the financial crisis. (Credit: iStock)

Brooklyn i-sales see biggest drop since financial crisis

Brad Zackson and 2475 Exterior Street (Credit: Google Maps)

Another Brad Zackson deal tops NY’s mid-market investment sales

The sites at 1900 Shore Parkway, 1894 Shore Parkway along Bay 41st Street in Gravesend (Credit: Google Maps)

Abraham Fructhandler’s FBE buys South Brooklyn sites for $58M

From left: Savanna’s founding partners, Christopher Schlank and Nicholas Bienstock, Tokyo Trust Capital CEO Minoru Machida and 434 BroadwayFrom left: Savanna’s founding partners, Christopher Schlank and Nicholas Bienstock, Tokyo Trust Capital CEO Minoru Machida and 434 Broadway

Savanna sells Soho office building for $103M to Tokyo-based firm

22 Quincy Street in Brooklyn (Credit: Google Maps)

Salvation Army rings bell on Clinton Hill warehouse sale for $29M

111-115 West 141st Street and 148 West 141st Street (Credit: Google Maps)

Brooklyn multifamily building sale tops this week’s list of mid-market deals

591-593 Broadway (Credit: Google Maps)  

Another pricey retail building in Soho is up for sale

arrow_forward_ios
Loading...