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

Gemini sells Midtown hotel; Criterion nabs Astoria office building

Nov.November 14, 2016 07:30 AM

1.) Gemini Real Estate Advisors sold the Quality Inn Midtown West at 442 West 36th Street for $18.5 million. The sale appears to be a loss for Gemini, which paid $18.8 million to acquire the hotel eight years ago. Jin Sup An, the owner of the East Houston Hotel on the Lower East Side and GEM Hotel near Hudson Yards, is the buyer.

2.) Shibber Khan’s Criterion Group TRData LogoTINY snapped up an office-and-retail building in Astoria for $12.5 million from the Malachite Group. The building at 28-18 Steinway Street has 12 commercial units totaling 24,600 square feet. It’s home to several medical offices and law firms, and is sandwiched between a pair of low-rise commercial buildings along Steinway. Malachite paid $7.5 million for the four-story building a decade ago. Criterion is also looking to sell a a 253,000-square-foot development site in Long Island City, as The Real Deal reported in August.

(Source: ACRIS data for closed sales between Nov. 7-13, and Reonomy data)

Related Articles

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

RedSky Capital’s Benjamin Bernstein and 1 Java Street in Greenpoint (Credit: ICSC and Google Maps)

RedSky puts Greenpoint dev site on market asking $165M

Greg Kraut and Rod Kritsberg of KPG Funds (Credit: KPG)

Manhattan office developer launches $200M fund

1226-1240 Sherman Avenue and 21-23 Catherine Street (Credit: Google Maps)

Pair of Bronx multifamily buildings leads New York’s mid-market investment deals

42-46 2nd Avenue (Credit: Google Maps)

LA real estate firm buys shuttered church site for $40M

1115 Broadway, RXR Realty's Scott Rechler, 2413 Third Avenue and 9 Bruckner Boulevard in the Bronx (Credit: Getty Images; Google Maps)

Flatiron office building leads New York’s mid-market investment sales

Clockwise from left: The Chrysler Building, The Putnam Portfolio, CBRE's Darcy Stacom, JLL's Andrew Scandalios, The Coca-Cola Building and Cushman & Wakefield's Doug Harmon

A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms

150-152 East 79th Street (Credit: Google Maps)

HFZ assemblage play leads New York’s mid-market investment sales