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Here’s what the $10M-$20M NYC investment sales market looked like last week
A.D. Real Estate sell UES walk-ups, Asco buys Bronx rentals
1.) Aaron and Adam Daniels’ A.D. Real Estate [TRDataCustom] sold two Upper East Side walk-ups for $16 million. The two five-story buildings, at 315 and 317 East 74th Street, span 8,395 and 9,145 square feet respectively and each have 17 residential units. The building at 315 East 74th Street also has two commercial units. The buyers are a group of investors from Great Neck, including Imanuel and Alex Piroozian. A.D. Real Estate, also based in Great Neck, recently bought two buildings from Blackstone Group and Fairstead Capital; an 18-story rental at 312 East 30th Street for $52 million and a 10-story building at 114 East 40th Street for $27.5 million.
2.) Asco Properties picked up a 91-unit Bronx portfolio for $20 million. The two six-story buildings, at 231-235 West 230th Street in the Marble Hill section of the Bronx, include 89 residential units, all of which are rent-regulated, and two storefronts. Combined, they span 79,630 square feet. The seller, Jo-Lyn Management, owned the property since 1984.
(Source: ACRIS data for closed sales between May 20-June, and Reonomy http://info.reonomy.