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

Taconic, partners on an Essex Crossing development site; Sam Chang sells a Midtown building

TRD New York /
Dec.December 07, 2015 03:30 PM

1.) Delancey Street Associates, which comprises of Taconic Investment Partners, L+M Development Partners and BFC Partners, closed on a deal to buy 242 Broome Street from the City of New York for $15.8 million. Construction is already underway on the 14-story, mixed-use building, and Delancey has secured a $95 million construction loan from Goldman Sachs for the project. Once complete, the SHoP Architects-designed building will include 55 condominiums, the Splitsville Lanes bowling alley and a cultural facility. The building will rise between Ludlow and Essex Streets, and is part of a larger plan for Essex Crossing that will include nearly 2 million square feet of new residential, commercial and community space.

2.) A six-story office building at 74 Broad Street in the Financial District sold for $14.3 million. The buyer is investor Daniel Ridloff, vice president of SDG Investment Fund. Financial brokerage Oscar Gruss & Son Inc. acquired the 21,200-square-foot building in 1978, according to property records. The property sits adjacent to the 32-story office tower at 2 Broadway.

3.) Sam Chang’s McSam Hotel Group sold a development site at 337 West 36th Street for $10 million to another Great Neck-based developer, Kozani Inc. In September 2014, Chang filed permit applications for a new 23-story, 89-key hotel to replace a low-rise industrial building, but the Department of Buildings rejected those plans last month. The three new owners have not submitted any new filings or revised plans for the project.

(Source: ACRIS data for closed sales between Nov. 30- Dec.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

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...