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

Premier buys West Chelsea retail for $11M, Fortress picks up 3 Chase locations for $21M

New York /
Jan.January 10, 2017 03:50 PM

In the world of mid-market New York City investment sales last week, Premier Equities snagged a retail space under the High Line for $10.7 million and Chase Bank sold three more locations.

1.) Premier Equities TRData LogoTINY scooped up a retail condominium unit under the High Line on West 24th Street for $10.7 million from SR Capital. The 7,200-square-foot property at 507 West 24th Street, with 3,900 square feet of ground-floor retail space, was on the market in 2015 for $16 million. It is currently home to the Marianne Boesky Gallery, and was a temporary home for Lisa Spellman’s 303 Gallery, which moved several blocks to the Norman Foster-designed high-rise at 551 West 21st Street in May. Premier Equities, an aggressive retail-focused player in Manhattan, recently bought a retail condo on the Lower East Side for $5.5 million and three NoMad buildings for just over $20 million.

2.) Fortress Investment Group bought three Chase Bank retail locations in Brooklyn, including two in Coney Island, in multiple deals totaling $21 million. The locations include a one-story, 16,603-square-foot building in Brighton Beach, at 1002 Brighton Beach Avenue, with a price tag of $11.4 million. The other two properties are a four-story, 23,000-square-foot building in Coney Island, at 2909 West 17th Street for $3.8 million and a four-unit building in Williamsburg, at 819 Grand Street for $5.9 million. Last month, Chase sold three Manhattan locations to Natural Habitat Realty for $17.4 million.

3.) Continental Equities bought a seven-story commercial building in Chinatown for $15.5 million. The seller is the Lam Group, which bought the loft-style building at 41-43 Division Street in 2014 for $11.5 million. Last week, Continental, which is led by Jangana siblings Jack Jangana and Jenny Haim, sold a 25 percent stake in a six-story, 32,214-square-foot building at 174 Mott Street.

 

(Source: ACRIS data for closed sales between Jan. 2-8 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
Light i-sales precede heavy eating
Light i-sales precede heavy eating
Light i-sales precede heavy eating
Clockwise from top left: 2875 Morningside Heights, 38-21 12th Street in Long Island City, 46 Nevins Street in Brooklyn (Google Maps)
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors continue to snatch up city’s multifamily, industrial assets
Investors continue to snatch up city’s multifamily, industrial assets
Investors continue to snatch up city’s multifamily, industrial assets
CommonWealth Partners CEO Brett Munger and Hudson Commons at 441 Ninth Ave (CommonWealth, Hudson Commons)
CommonWealth Partners buying Hudson Commons for more than $1B
CommonWealth Partners buying Hudson Commons for more than $1B
Village theater back on market after failed deal; 3 more warehouses sell
Village theater back on market after failed deal; 3 more warehouses sell
Village theater back on market after failed deal; 3 more warehouses sell
Parking spaces, resi building trade at discounts
Mid-market investors score parking garages, Queens apartments at discounts
Mid-market investors score parking garages, Queens apartments at discounts
Ben Ashkenazy dumps Midtown retail building at $6M loss
Ben Ashkenazy dumps Midtown retail building at $6M loss
Ben Ashkenazy dumps Midtown retail building at $6M loss
arrow_forward_ios

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

Loading...