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

Lam buys UES building, WXY picks up Tribeca walk-up

New York /
May.May 31, 2017 05:45 PM

1.) The sculptor and architect Andrea Woodner bought a landmarked five-story building in Tribeca for $15 million. Woodner, as managing member of 23 Park Place LLC, picked up the six-unit property at 23 Park Place, which includes five residential units and spans 21,849 square feet. Woodner converted the third floor of the building next door, at 25 Park Place, to artist studios together with Claire Weisz of WXY Architecture + Urban Design. Woodner also founded the non-profit Design Trust for Public Space, which has been behind public projects like the High Line.

2.) Lam Group paid $17 million for an Upper East Side medical office building that was embroiled in several legal conflicts. The owner of the six-story property at 261 East 78th Street, Lee Moncho, filed for bankruptcy in 2016, at which time he owed more than $14 million on the property. Moncho was separately suing Chaim Miller and Sam Sprei, with whom he co-owned the building, for allegedly moving to sell off the property’s interests. Stuart Gross of Eastern Consolidated had the listing for $18.5 million.

3.) The Upper East Side’s most popular veterinarian is letting go of the Upper East Side townhouse, out of which he’s been operating the Park East Animal Hospital since 1961. Dr. Lewis Berman sold the five-story townhouse at 52 East 64th Street to British developer Penny Bradley for $13 million. Bradley renovated a townhouse at 46 East 82nd Street, paying $8.8 million for the property in 2014, and then putting it back on the market for $22.5 million a year later.

4.) Icon Realty Management sold a multifamily walk-up at 506 East 84th Street in Yorkville for $11.2 million. The buyer, Makoto Susa, bought the five-story property through ECA Real Estate Advisors. Icon paid $4.3 million for the 10-unit building, three of which are rent-stabilized, in 2013. Sean Lefkovits and John Florek of HPNY represented the buyer and the seller.

5.) Arker Companies picked up a 70-unit multifamily building in Williamsburg for $11.7 Million From Essex Plaza Management. Of the 70 units in the five-story building at 757 Bushwick Avenue, 69 are included in Section 8 housing, but rents are within the range of market rate. In 2017, two-bedrooms rented for an average $2,400 a month, according to StreetEasy.

6.) Jack Terzi’s JTRE Holdings bought a two-story commercial building in NoMad for $13.5 million. The 4,432-square-foot property at 1177 Broadway, located between West 27th and 28th streets, has 25 feet of frontage on Broadway.

A previous version of this article incorrectly stated that WXY Architecture + Urban Design was the buyer of 23 Park Place. The buyer is 23 Park Place LLC.


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