The Real Deal New York

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

Vilcek Foundation sells UES gallery, Blank sells three Astoria buildings
By Chava Gourarie | April 10, 2017 02:15PM

From left: 25-10 29th Street, Laurie M. Tisch and 167 East 73rd Street (Credit: Google Maps and Getty Images)

In the world of mid-market New York City investment sales last week, the Laurie M. Tisch Foundation bought a two-story commercial building on the Upper East Side for $19.2 million, and a Queens landlord picked up a three-building lot in Astoria for $11.4 million.

1.) The Laurie M. Tisch Foundation bought the site of the Vilcek Art Gallery on the Upper East Side from the Vileck Foundation for $19.3 million. The two-story building is a converted townhouse at 167 East 73rd Street with one residential unit and two commercial units. The Vileck Foundation, a nonprofit that supports foreign-born artists and scientists, bought the property in 2006 for $6.9 million and opened its headquarters there in 2008.

2.) Blank Property Group sold a three-building site in Astoria to Dominic Casamento’s Kingdom Equities for $11.4 million. The three four-story apartment buildings, from 25-10 to 25-20 29th Street, have 27 apartments combined. The buildings last sold for $7.2 million in 2014.

3.) Peter Wunsch’s WEA Enterprises sold two commercial buildings, at 6601 and 6603 18th Avenue in Bensonhurst for $10.8 million. The buyer of the two one-story buildings is investor Debra Hamid, who controls 18th Ave BAC LLC. The buildings, which span 3,950 square feet combined, sold for $8.5 million in 2013.

(Source: ACRIS data for closed sales between Apr. 3-9, and <a href=”http://info.reonomy.com/NYC-Request-Demo.html” target=”_blank”>Reonomy</a> data.)