The Real Deal New York

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

Winther buys in Nolita, Walter & Samuels strikes deal in Midtown South
By Chava Gourarie | December 14, 2016 11:41AM

From left: 178 Mulberry Street, David Berley and 130 Madison Avenue

1) Winther Investment Group bought a 29-unit rental building on the corner of Mulberry and Broome streets on the Lower East Side for $15.2 million. The Houston-based firm purchased the seven-story 14,931-square-foot building at 178 Mulberry Street from Cheryl Sorrentino’s Cherso Realty. Current tenants at the building’s three retail spaces are an art gallery, a gelato shop and an Italian restaurant.

2) David Berley’s Walter & Samuels picked up a six-story office building on Madison Avenue for $14.5 million. The 15,300-square-foot Midtown South building at 130 Madison Avenue, between East 30th and 31st streets includes two retail units. JD Carlisle purchased the building next door, at 132 Madison, for $10.5 million as part of an assemblage.

3) Restaurant Depot, under the name JMDH Real Estate, bought two adjacent vacant plots in Whitestone for $12.5 million from the Greater New York Automobile Dealers Association. The two plots, at 141-10 15th Avenue and 17-22 Whitestone Expressway, together span 112,000-square-feet and are zoned for industrial use. This is the third time the pair of plots has changed hands since 2008.

4) Ilias Theodoropoulos, a Bayside-based developer, bought a one-story commercial building on the corner of Broadway and 29th Street in Astoria for $12.5 million. The 10,000-square-foot building at 25-41 Broadway sold for $7.25 million in November to Alrose Properties. Theodoropoulos owns buildings throughout Queens and several in Manhattan.

(Source: ACRIS data for closed sales between Dec. 5-9, and Reonomy data)