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

A&E sells in Queens, Hubb NYC buys in Hell’s Kitchen

TRD New York /
May.May 04, 2017 04:00 PM

In the world of mid-market New York City investment sales last week, A&E Real Estate Holdings TRData LogoTINY sold a three-building package in Queens for $12.9 million and Hubb NYC bought a mixed-use building in Hell’s Kitchen for $12 million.

1.) A&E Real Estate sold three 16-unit rental buildings in Queens for $12.9 million. John Kapetanos of Manhasset picked up the adjacent four-story walk-ups at 39-11, 39-15 and 39-19 62nd Street in the Woodside neighborhood. A&E bought the properties from Ares Management for $7.2 million in 2013. A&E and Ares have been trading frequently in the neighborhood. The prolific landlord recently entered contract to acquire a seven-building Queens portfolio from Ares for $83 million and, last December, bought a 10-building portfolio from Ares for $133 million with Benedict Realty Group.

2.) Hubb NYC picked up a 17-unit building in Hell’s Kitchen for $12 million. The five-story building at 714 Ninth Avenue between West 48th and 49th streets, includes 16 residential units and one retail unit. The seller, Walter Steckman, has owned the property since 1985, records show. Hubb NYC, formerly known as Trevi Retail, frequently buys rental buildings and retail in Manhattan. David Chera and David Marciano of Kassin Sabbagh Realty represented the seller.

3.) Preferred Home Care bought a 256-bed adult-care facility in the North Bronx for $15 million. The 66,000-square-foot building at 6355 Broadway is home to the Riverdale Manor Home for Adults. Berry Weiss’ Preferred Home Care is associated with the W Group, which manages adult-care facilities throughout the New York metro area including in Bayview and Goshen.

(Source: ACRIS data for closed sales between Apr. 24-30, and Reonomy data)

(To view all properties owned by A&E Real Estate Holdings, 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
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
JLL CEO Christian Ulbrich (Ulbrich by Jemal Countess/Getty Images for Women's Forum of New York)

JLL profits halved by pandemic

JLL profits halved by pandemic
82-10 Baxter Avenue and 3111 Heath Avenue (Google Maps)

Queens retail sale tops mid-market deals of the week

Queens retail sale tops mid-market deals of the week
28 Liberty Street (Wikipedia)

Manhattan’s office leasing sees busiest month since January

Manhattan’s office leasing sees busiest month since January
Right to left: 831, 835 and 837 Madison Avenue (Google Maps)

“The ’57 Chevy in that old lady’s garage”: Madison Avenue buildings up for sale in litmus test for retail real estate

“The ’57 Chevy in that old lady’s garage”: Madison Avenue buildings up for sale in litmus test for retail real estate
Maison Kayser (Photo via Tools of Men via Flickr)

Maison Kayser may bid New York adieu

Maison Kayser may bid New York adieu
410 Tenth Avenue and SL Green CEO Marc Holliday (410 Tenth via Google Maps; Holliday via SL Green)

SL Green shopping Amazon-anchored office in Hudson Yards

SL Green shopping Amazon-anchored office in Hudson Yards
arrow_forward_ios

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

Loading...