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

Chetrit and Cornell add to West 34th Street assemblage; A.D. Real Estate buy East Village rental building

New York /
Jan.January 04, 2016 03:35 PM

1.) Joseph Chetrit’s Chetrit Group and Shifra Hager’s Cornell Realty Management purchased one of the final parcels needed to complete an assemblage of Retail Buildings Along West 34th Street in Midtown. The developers acquired 257 West 34th Street from Aldad & Sons Realty for $18.3 million, and plan to redevelop the site at 251-263 West 34th Street as new retail. The four-story building was home to several eating establishments and a nail salon. Last month, Cornell and Chetrit purchased the Wendy’s at 259 West 34th Street and the Bag Man store at 261-263 West 34th Street. The developers paid a combined $61 million for the three adjacent buildings at 251-255 West 34th Street last year, But Still Need 249 West 34th Street to complete the assemblage. The building at 257 West 34th Street last traded hands in 1995, records show.

2.) Landlord Tim Ziss’ Goldstone Management Corp. sold a 30-unit rental building in Flushing for $17.8 million as part of a Chapter 11 settlement.  Flushing-based entity Hua Yuan Development will take over the seven-story rental building at 136-46 41st Avenue, court records indicate. The building includes 28 apartments and two rental units across 60,800 square feet.

3.) A.D. Real Estate Investors nabbed a six-story rental building at 620 East 6th Street for $11.3 million from Marolda Properties. Beer hall Against the Grain and its sister wine bar, Grape and Grain, occupy the building’s ground floor. The upper floors of the 13,500-square-foot building are home to 22 residential units. Marolda last sold a three-building package of rental buildings on the Lower East Side for $2.4.4 million.

(Source: ACRIS data for closed sales between Dec. 28- Jan. 3, 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
(iStock/Illustration by Kevin Rebong for The Real Deal)
NYC investment sales hit multi-year peak to end 2021
NYC investment sales hit multi-year peak to end 2021
A photo illustration of 51-53 East 73rd St, 300 De Witt Ave, 137 Bayard Street and 3044 Coney Island Ave (LoopNet, Rosewood Realty Group/Illustration by Steven Dilakian for The Real Deal)
Ten mid-market investment sales to start your day
Ten mid-market investment sales to start your day
(Illustration by The Real Deal)
Manhattan investment sales top pre-pandemic levels in Q4 comeback
Manhattan investment sales top pre-pandemic levels in Q4 comeback
Renderings of 80 South Street (Oceanwide Holdings, iStock)
Chinese developer defaults on $175M loan for languishing Manhattan supertall site
Chinese developer defaults on $175M loan for languishing Manhattan supertall site
Ashkenazy Acquisition Corporation's Ben Ashkenazy; Clipper Equity’s David Bistricer; Fetner's Hal Fetner; L+M Development Partners's Ron Moelis (Google Maps, Ashkenazy Acquisition Corporation, Fetner, Clipper Equity, L+M Development Partners)
Everything must go: I-sales skyrocket in year-end blowout
Everything must go: I-sales skyrocket in year-end blowout
836 Broadway, 72-79 Warren Street, 82-89 West Broadway, 1124 First Avenue, 290 Dyckman Street, and 2957 Shell Road (Google Maps)
17 investment sales make for a year-end smorgasbord
17 investment sales make for a year-end smorgasbord
6R Capital Realty's Shai Shamir with 70-74 Warren Street (left) and 80-88 West Broadway (IAC, Google Maps)
As Brack Capital shutters in NY, former CEO bets on Tribeca
As Brack Capital shutters in NY, former CEO bets on Tribeca
arrow_forward_ios

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

Loading...