The Real Deal New York

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

Applegrad buys in the Bronx for $10M; Hamilton Heights storage facility trades for $16M
By Chava Gourarie | July 17, 2017 06:00PM

465 West 150th Street and 41 Elliot Place

In the world of mid-market New York City investment sales last week, a storage facility in Upper Manhattan sold for $16 million and Sam Applegrad picked up a multifamily building in the Bronx.

1.) Bronx landlord Sam Applegrad bought a 68-unit complex at 41 Elliot Place in the Bronx for $10 million. The two five-story buildings are rent-regulated and located between Highbridge and Claremont Village. Applegrad has several multifamily properties throughout the Bronx and in February bought a 62-unit building in Claremont Village for $12 million. The former owner, Ende Realty LLC, bought the property in 1997.

2.) Atlanta-based Mequity Companies bought a seven-story storage facility in Hamilton Heights for $15.6 million. Mequity is a self storage development company headed by Bill Marsh. According to their website, the 44,000-square-foot facility at 465 West 150th Street will be gutted and renovated, but remain a storage facility, to be operated by CubeSmart. The previous owners, an LLC associated with the moving company Moving Man, owned the property since 1997.

(Source: ACRIS data for closed sales between July 10-16, and Reonomy data)