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

Aryeh buys Washington Heights rental, Kassin sells in Sheepshead Bay

New York /
Aug.August 22, 2017 08:00 AM

In the world of mid-market New York City investment sales last week, Steve Kassin sold a retail building in Sheepshead Bay, and a famous architect sold a six-unit Tribeca townhouse for $18 million.

1.) Steve Kassin’s Infinity Real Estate sold a one-story retail building in Sheepshead Bay for $12 million. The 10,000-square-foot building, at 2837 Coney Island Avenue, is located at the corner of Avenue Z. The buyer is Med Partners LLC. In April, Kassin took a majority stake in the leasehold at 587 Fifth Avenue, and in May he secured construction funding for a Midwood project.

2.) Michael Aryeh’s Heritage Realty bought a 31-unit multifamily building in Washington Heights for $12 million. The seller, Margaret Streicker Porres’ Newcastle Realty, bought the six-story building at 130 Wadsworth Avenue, for $6.8 million in 2014. Since 2014, the number of rent-regulated units in the building has been reduced from 24 to 21, records show. The building includes one commercial property.

3.) The Office of Thierry Despont, run by the namesake architect, sold a five-story mixed-use building in Tribeca for $18 million. The 42-foot wide property at 70-72 Laight Street was listed in 2013 for $24 million and marketed as a potential condo conversion. The 12,500-square-foot building, between Washington and Greenwich streets, includes four residential and two commercial units. The buyer is Perry NYC LLC.


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
 JLL CEO of capital markets Richard Bloxam and Roofstock CEO Gary Beasley (JLL, Roofstock, iStock)
JLL gets in rental home business
JLL gets in rental home business
Mack-Cali Realty CEO Mahbod Nia and MaryAnne Gilmartin (Photos via Mack-Cali Realty)
Mack-Cali Realty names Mahbod Nia as CEO
Mack-Cali Realty names Mahbod Nia as CEO
Benchmark's Jordan Vogel with 826 Madison Avenue (top) and 581 Austin Place (Linkedin, Google Maps)
Benchmark picks up UES building; SNL snares Bronx warehouse
Benchmark picks up UES building; SNL snares Bronx warehouse
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
Mayor Bill de Blasio (Getty, iStock)
NYC to revive $17B in public construction projects
NYC to revive $17B in public construction projects
arrow_forward_ios

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

Loading...