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

Madison Realty Capital sells a Kips Bay multifamily; Akelius buys a renovated Clinton Hill rental

New York /
Oct.October 20, 2015 05:40 PM

1.) Josh Zegen’s Madison Realty Capital sold a 25-unit rental building at 232 East 27th Street for $19.5 million to Maspeth-based Anthony Tristani. The Kips Bay building is six stories and spans 18,570 square feet between Second and Third avenues. Madison paid $6.3 million, less than a third of the selling price, for the building in 2011. Tristani  is also the owner of a Williamsburg warehouse at 125 Metropolitan Avenue, and a former processing plant at 860 Humboldt Street in Greenpoint that was destroyed in a fire last year.

2.) Akelius Real Estate Management purchased a newly renovated rental building in Clinton Hill for $15 million from DSA Realty Group. The 25-unit building at 415 Washington Avenue last traded for $10.3 million last year.

3.) Midwood Investments & Developments sold a former Flushing supermarket site to Thomas Suh and Yoon Suk Suh of Alpha Holding and J&J Holding Enterprises for $13.6 million. The property at 160-04 Northern Boulevard and was last occupied by L&L Supermarket and has more than 26,000 buildable square feet.

4.) Christine Svenningsen, who owns a collection of Thimble Islands, sold a pair of multifamily buildings in Little Italy for $12.3 million. The properties include a five-story building at 186 Hester Street and a four-story building at 125 Mulberry Street. Combined they have 12 apartments and one commercial space occupied by Italian restaurant Il Cortile. Ilan Cohen is the buyer.

5.) Two days before Anthony Tristani nabbed Madison Realty Capital’s Kips Bay rental building, he closed on the sale of a commercial building at 94 North 3rd Street in Williamsburg. David Kramer’s Hudson Companies paid $10 million for the development site. Tristani filed permits last year to replace the former building supplies store with a 75-unit mixed-use building totaling nearly 73,000 square feet. Marvel Architects is designing the building.

(Source: ACRIS data for closed sales between Oct. 12-18, 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
From left: SMA's Samy Mahfar and Gaia's Danny Fishman in front of 99 Allen Street, 177 Ludlow Street, and 102 Norfolk Street in Manhattan (Google Maps, LinkedIn/Sammy Mahfar, GAIA Real Estate)
Gaia, SMA trade LES buildings in busy week for i-sales
Gaia, SMA trade LES buildings in busy week for i-sales
Joseph Chetrit with 92-11 147th Place (Getty, Google Maps, iStock)
UES apartments, Midtown strip club trade in another active week for i-sales
UES apartments, Midtown strip club trade in another active week for i-sales
Vanbarton's Justin Kleinman and 103-109 East Burnside Avenue (LinkedIn, Google Maps, iStock)
Vanbarton unloads 3 Bronx properties in busy week for i-sales
Vanbarton unloads 3 Bronx properties in busy week for i-sales
(iStock)
Another big quarter for tri-state warehouses, but party may be ending
Another big quarter for tri-state warehouses, but party may be ending
GAIA's Danny Fishman with 177 Ludlow Street, 99 Allen Street, and 102 Norfolk Street (GAIA Real Estate, Google Maps)
Gaia on multifamily buying spree as others back off
Gaia on multifamily buying spree as others back off
Harkham Ventures' Aron Harkham and 133 Grand Street (LinkedIn, Google Maps)
Harkham family, Yan Moshe, Alan Fried score mid-market deals
Harkham family, Yan Moshe, Alan Fried score mid-market deals
Slate Property Group's Martin Nussbaum with 231 East 76th Street and 340 East 52nd Street  (Google Maps, Slate Property Group)
Slate, Fortress score $78M Manhattan multifamily portfolio
Slate, Fortress score $78M Manhattan multifamily portfolio
arrow_forward_ios

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

Loading...