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

Premier sells Noho retail unit, ASRR Capital buys out Suzer Group

TRD New York /
Mar.March 07, 2017 05:45 PM

In the world of mid-market New York City investment sales this week, Premier Equities sold a retail co-op for $10 million, ASRR Capital took full control of A Luxury Residential Project On Madison Avenue, and a buyer bought a bulk condo package at Naftali Group’s West Village condo conversion.

1.) Premier Equities sold a retail co-op unit at 682 Broadway in Noho for $10 million to Ascot Properties. The 1,000-square-foot ground-floor space is at the corner of Broadway and Great Jones Street. Premier Equities, led by Uzi Ben-Abraham and Yaron Jacobi, has teamed up with Joseph Sitt’s Thor equities to build a 100,000-square-foot condo tower on the Upper East Side. RFK represented Premier, while Marshall Real Estate represented Ascot.

2.) Alex Sapir and Rotem Rosen’s ASRR Capital is buying out its partner in a proposed 10-story luxury building on the site of a Madison Avenue townhouse. ASRR and Turkish conglomerate the Suzer Group bought a townhouse at 218 Madison Avenue in 2015 for $18.5 million with plans to build a luxury residential project on the site. Now, the Israel-based ASSR, whose principals also run the Sapir Organization, is paying Suzer $10.1 million for its 50 percent stake.

3.) The St. Edmunds Catholic Church on Ocean Avenue in Brooklyn sold for $10.1 million. The deal includes three parcels, the 6,200-square-foot church at 2450 Ocean Avenue and two adjacent buildings. The buyer is a Brooklyn-based entity managed by Eddie Yair, with an address at Eran A. Birnbaum Architect. Birnbaum and Yair are working together to develop a 7-story mixed-use building in Sheepshead Bay, Department of Buildings filings show.

4.) Tremada Holdings, LLC bought 14 residential condo units, which are occupied by rent-stabilized tenants, at the Naftali Group’s West Village condo conversion for $10.3 million. The 12-story landmarked building at 275 West 10th Street, named the Shephard, includes 38 units in total, an additional 14 of which are sold, according to StreetEasy. In 2015, Tremada Holdings paid $55 million for 44 condo units at the 15-story condo building at 845 West End Avenue at 101st Street. A Santa Ana-based lawyer, Babak Sotoodeh, is listed as a manager of Tremada on the property records.

https://therealdeal.com/2015/11/17/atlas-sterling-sells-44-unit-bulk-condo-package-for-55-5m/

(Source: ACRIS data for closed sales between Feb. 27 and Mar. 5)


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
Photo illustration of Ryan Serhant and  22-43 Jackson Avenue (Getty, Trader Joe's) 

Trader Joe’s to open in LIC early next year

Trader Joe’s to open in LIC early next year
Shawn Mobley (left), is being replaced by Andrew McDonald (right) as CEO of the Americas at Cushman

Shakeup at Cushman: Mobley out, McDonald promoted

Shakeup at Cushman: Mobley out, McDonald promoted
(iStock)

To survive, NYC retailers are treating average Joe’s like they’re rich

To survive, NYC retailers are treating average Joe’s like they’re rich
The financing deal comes after AMC theaters have been shuttered for months due to the coronavirus pandemic. (iStock)

AMC nears deal to avoid bankruptcy

AMC nears deal to avoid bankruptcy
The Transamerica Building in San Francisco and Michael Shvo (Rawpixel Ltd via Flickr)

Shvo to buy Transamerica Building at 10% discount after Covid delay

Shvo to buy Transamerica Building at 10% discount after Covid delay
1107 Dekalb Avenue (Google Maps)

Outer boroughs dominate mid-market deals last week

Outer boroughs dominate mid-market deals last week
CIM Group’s Shaul Kuba, Knotel's Amol Sarva, Related Group’s Jorge Pérez and The Agency’s Mauricio Umansky (Getty, Sarva by Sasha Maslov, iStock)

These real estate companies got fat PPP loans

These real estate companies got fat PPP loans
arrow_forward_ios

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

Loading...