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

Thor sells Boerum Hill rental to BFC; Ferrovecchio sells Port Morris gas station

New York /
Dec.December 28, 2016 06:10 PM

In the world of mid-market New York City investment sales last week, BFC picked up a $10.5 million Boerum Hill rental building from Thor Equities and the Communications Workers of America bought a $11 million commercial condominium unit at the old New York Mercantile Exchange Building in Tribeca.

1.) Donald Capoccia’s BFC Partners bought an eight-unit rental building from Thor Equities in Boerum Hill for $10.3 million. The four-story building at 292 Atlantic Avenue includes five residential units and three retail units. BFC is the developer behind the Toren condominiums and the Bedford-Union Armory development, where they proposed to bring 300 apartments.

2.) Chun Min Kwok and Joyce Cheng, picked up a 16,800-square-foot commercial building at 46-45 Kissena Boulevard in Flushing for $12.5 million. The one-story building  at is currently home to Good Fortune Restaurant. The Flushing-based developers own several other properties in Flushing, including a vacant 8,400-square-foot lot at 138-10 Northern Boulevard and a 7,750-square-foot warehouse at 134-36th Road.

3.) Andrew Impagliazzo bought a warehouse and adjacent gas station in Port Morris from Dominic Ferrovecchio for $11.8 million. The properties include a one-story, 40,900-square-foot, commercial building at 382 East 137th Street, currently home to the Ferrari Driving School, and a 19,150-square-foot gas station next door at 370 East 137th street, across three parcels. Together, the properties take up an entire block stretching from 136th to 137th streets, and from Cypress Avenue to the Bruckner Expressway. Ferrovecchio owns a number of other properties in the South Bronx, often under the name Ferro Properties.

4.) The New York City branch of the Communications Workers of America bought a commercial condo unit at the old New York Mercantile Exchange Building in Tribeca for $10.9 million. The eight-story, 38,213-square-foot building at 97 Hudson Street, also known as 6 Harrison Street, is divided into seven commercial units, including ground-floor retail.

5.) Square Advisors sold off a 10-unit walk-up on the Upper East Side for $10.4 million. Square Advisors, an investment advisory firm and affiliate of the London-based Square Capital, picked up the five-story, 8,754-square-foot building at 539 East 87th Street for $8 million in 2013.


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
1529 62nd St, Brooklyn, NY (Google Maps)
Mid-market i-sales top $100M for third straight week
Mid-market i-sales top $100M for third straight week
Related’s Stephen Ross and 265-275 Cherry Street (Google Maps; Getty)
NYC investment sales showed signs of recovery at end of 2020
NYC investment sales showed signs of recovery at end of 2020
Mayor Bill de Blasio and Gov. Andrew Cuomo (Getty; iStock)
Investment sales fell by half in December to finish year down 48%
Investment sales fell by half in December to finish year down 48%
From left: 140 and 142 West 4th Street, 63 West 104 Street and 37-30 Review Avenue in Long Island City (Google Maps; StreetEasy)
Mid-market muscles up: $154M in deals last week
Mid-market muscles up: $154M in deals last week
 Robert Morse, executive chairman of Bridge Investment Group, one of the major Opportunity Zone investors focusing on real estate.  (Bridge, Stanford)
Opportunity Zone investments got a boost in 2020
Opportunity Zone investments got a boost in 2020
Clockwise from top left: 48 Bedford Avenue in Williamsburg; 7601 4th Avenue in Bay Ridge; 55-25 58th Street in Maspeth; 42, 44 and 46 21st Street in Flatiron; 59-20 Van Doren Street in Corona (Photos via StreetEasy; Google Maps)
Mid-market investment sales off to strong start in 2021
Mid-market investment sales off to strong start in 2021
Dov Hertz and an aerial of 1900 South Avenue in Staten Island (Photos via Adam Pincus; Google Maps)
Dov Hertz picks up Staten Island site for $65M
Dov Hertz picks up Staten Island site for $65M
arrow_forward_ios

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

Loading...