The Real Deal New York

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

Eli and Joseph Tabak team up on a Mott Haven warehouse purchase; a Brooklyn investor picks up 74 units in Longwood
By Kyna Doles | April 25, 2016 01:55PM

912 Southern Boulevard, 780 East 135th Street and Eli Tabak

From left: 912 Southern Boulevard in the Bronx, 780 East 135th Street in Mott Haven and Eli Tabak

1.) A pair of contiguous mixed-use buildings at 912 And 922 Southern Boulevard in the Bronx sold for $16.1 million. Brooklyn-based investor Joel Werzberger, who owns 875 Longwood AvenueAnd 2035 Belmont Avenue in the Bronx, purchased the properties from landlord Joel Shafran. The nearly identical buildings are six stories, each spanning over 50,000 square feet. They have a combined 66 apartments, mostly rent regulated, and eight retail units.

2.) Eli Tabak’s Bluestone Group, brother Joseph Tabak’s Princeton Holdings and Altmark Capital closed on a deal to buy a Mott Haven warehouse spanning an entire block along Willow Avenue, between East 134th and 135th streets, for $14.1 million. The vacant warehouse at 780 East 135th Street, which totals 84,650 square feet, last sold in 1997 and was used as a moving and storage facility. The new owners are considering converting the five-story building into new artists lofts or a creative office, according to the Commercial Observer, which first reported the sale.

(Source: ACRIS data for closed sales between April 18-24, and Reonomy data)