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

AD Real Estate buys an UES rental building; Better Living Properties scoops up a LES multifamily

TRD New York /
Sep.September 29, 2015 05:05 PM

1.) Crown Acquisitions sold a 14,000-square-foot retail building at 2007 86th Street in Bensonhurst for $20.2 million to a buyer listed as 2007 86th Street, LLC. Crown paid $12.2 million for the property in 2013 and began leasing the one-story building to Planet Fitness and the Vitamin Shoppe last year.

2.) Great-Neck based AD Real Estate purchased an Upper East Side rental building at 328 East 78th Street for $15.4 million. The six-story multifamily building has 28 residential units and two commercial tenants, including Xi’an Famous Foods on the ground-floor. Longtime owners Estate of Gertrude Hirsch and Paul Hirsch are the sellers.

3.) A vacant lot along Neptune Avenue in Coney Island could soon be converted into a car dealership. Florida-based automotive executive Manuel Kadre paid $14.5 million for the property from a now-shuttered Storage Deluxe at 809 Neptune Avenue. The lot sits across from the Luna Park Coop between West 8th and 12th streets and is adjacent to the now closed storage facility. No permits have officially been filed yet for a new building, but the site has 3,700 square feet of air rights.

4.) Fortis Property Group closed on a deal to buy Long Island City College Hospital’s Polhemus Building at 350 Henry Street in Brooklyn for $14.1 million. The developer received approval from the Landmarks Preservation Commission earlier this month to convert the seven-story building into condominiums. The residential conversion is part of Fortis’ larger plan to redevelop the Cobble Hill site into hospitals, schools, retail and residential.

5.) Ariel Soundry’s Better Living Properties scooped up a five-story mixed-use building on the Lower East Side for $12 million. The property at 19 Stanton Street has ground-floor commercial space and 13 apartments, including six rent stabilized units. Delshah Capital owned the property in 2011.

(Source: ACRIS data for closed sales between Sept. 21- 27, 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
620 West 153rd Street (Credit: Google Maps)

Hamilton Heights development site led mid-market deals last week

Hamilton Heights development site led mid-market deals last week
Joseph Chetrit and 118 East 76th Street (Credit: Sylvain Gaboury/Patrick McMullan via Getty Images, Google Maps)

Joseph Chetrit’s townhouse sale led mid-market NYC deals last week

Joseph Chetrit’s townhouse sale led mid-market NYC deals last week
Jason Meister (Photo by Gonzalo Marroquin/Patrick McMullan via Getty Images)

Ackman-Ziff’s Jason Meister moves to new firm

Ackman-Ziff’s Jason Meister moves to new firm
120 Beach 26th Street (Credit: Google Maps)

Far Rockaway site hitting the market for $70M

Far Rockaway site hitting the market for $70M
Clockwise from the left: 200 East 95th Street, 150 East 45th Street and 52 Greene Street (Credit: StreetEasy; Google Maps)

Not quite dead: Trio of mid-market deals in NYC last week

Not quite dead: Trio of mid-market deals in NYC last week
From left: Yoron Cohen, Richard Baxter and Scott Latham (Credit: Linkedin)

Big shakeup at Colliers: Baxter, Cohen, Latham out

Big shakeup at Colliers: Baxter, Cohen, Latham out
Billy Macklowe (right) and David Welsh with renderings of 120 Fifth Avenue in Park Slope (Credit: Macklowe by Patrick McMullan/Patrick McMullan via Getty Images; Senlac Ridge Partners)

Billy Macklowe, David Welsh close on Brooklyn dev site buy

Billy Macklowe, David Welsh close on Brooklyn dev site buy
arrow_forward_ios

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

Loading...