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

Brookland buys in Flatbush, Flushing development site grows

New York /
Mar.March 28, 2017 01:25 PM

In the world of mid-market New York City investment sales last week, Brookland Capital picked up a Flatbush development site for $11.5 million and Philip Chong added an $11 million parcel to his development site in Flushing.

1.) Boaz Gilad’s Brookland Capital picked up a development site in North Flatbush for $11.5 million. The two-parcel site, at 563 and 571 Ocean Avenue comes with 83,000 buildable square feet and one of the parcels extends from Ocean Avenue to the parallel East 21st Street. The property was listed for $16 million and the seller is Netty Brown. There is a 1,900-square-foot commercial building on the site.

2.) Developer Philip Chong added an $11.2 million parcel to a Flushing development site, for a total of $46.2 million. Chong purchased a lot at 144-61 Northern Boulevard next door to the two-parcel site Chong paid $36 million for in August. The neighboring lot, at 144-51 Northern was the site of a Flushing Bank branch and came with up to 90,000 buildable square feet. The new lot, home to a one-unit commercial building, comes with approximately 25,000 buildable square feet.

3.) Kassabson Properties bought a commercial condominium unit in the Alphabet City from Largavista Companies for $10.8 million. The retail condo is one of two commercial units at 310 East Houston between Avenues B and C, a seven-story building with 23 residential condos dubbed One Avenue B Condominiums.

4.) Fein Property Management sold off a 61-unit multifamily building in Kingsbridge Heights for $11.1 million. The buyer of the rent-stabilized building at 2710 Morris Avenue is Maurice Arlos. Arlos ran an art gallery in Tribeca, called Maurice Arlos Fine Arts, in the early 2000s.

(Source: ACRIS data for closed sales between Mar. 20-26, and Reonomy data)

(To see a selection of properties owned by Brookland Capital, click here.)

(To see a selection of $10M to $20M properties sold in the last year, click here.)


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
Lightstone Group CEO David Lichtenstein and 145 Bowery (Lightstone, Google Maps, Moxy Hotels)
Lightstone receives $130M construction loan for new Moxy hotel on LES
Lightstone receives $130M construction loan for new Moxy hotel on LES
34-20 Junction Blvd in Jackson Heights and Shorewood CEO S. Lawrence Davis (Google Maps, Shorewood)
Shorewood plans 227K-sq ft mixed-use project in Jackson Heights
Shorewood plans 227K-sq ft mixed-use project in Jackson Heights
Soho’s zoning madness, such as artists-only lofts and a ban on ground-floor retail, may finally change with a proposed rezoning.
The shopping district that banned retail: Soho’s incoherent zoning
The shopping district that banned retail: Soho’s incoherent zoning
Slate founding partners Blair Welch and Brady Welch (Slate, iStock)
RE-focused investment firm Slate raises $600M for private-credit fund
RE-focused investment firm Slate raises $600M for private-credit fund
Scott Rechler, CEO of RXR Realty and The Real Deal's Amir Korangy
Coffee Talk: Scott Rechler on beating the pandemic
Coffee Talk: Scott Rechler on beating the pandemic
L&L Holding’s David Levinson and Columbia Property Trust's Nelson Mills with a rendering of 261 11th Avenue (L&L, Columbia Property Trust, Terminal Warehouse)
L&L, Columbia Property Trust land $1.3B loan for Chelsea office project
L&L, Columbia Property Trust land $1.3B loan for Chelsea office project
Pandemic lockdowns for all three cities started in the last full week of March 2020, but office use had already plunged the week before as companies proactively sent workers home (iStock)
Manhattan lags Chicago, LA in returning to the office
Manhattan lags Chicago, LA in returning to the office
arrow_forward_ios

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

Loading...