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

Barberry Rose buys in Fort George

TRD New York /
Sep.September 25, 2017 02:10 PM

UPDATED, Sep. 27, 2:47 p.m.: In the world of mid-market New York City investment sales last week, Barberry Rose Management bought a rental property in Fort George for $12.5 million and a Midwood building tied to a discrimination lawsuit sold for $17.5 million.

1.) Lewis Barbanel’s Barberry Rose Management expanded its Upper Manhattan holdings with a $12.5 million purchase of a multifamily building in Fort George. The seller of the rent-regulated building at 390 Wadsworth Avenue was Larry Hirschfield’s ELH Management. The price for the 42-unit building works out to just under $300,000 per unit. Barberry rose bought a 363-unit portfolio in Inwood for $64 million in 2016, and acquired two more buildings in the area from Pinnacle Group in June. GFI Realty represented both the buyer and the seller in the transaction.

2.) A Midwood building that was the subject of a discrimination investigation sold for $17.5 million, a few months after the case settled. The Fair Housing Justice Center sued the owners of the 61-unit building at 1695 East 21st Street, Robert and Martin Rankell, for a pattern of discrimination against African​-American renters, who were given different information than white renters. The case settled in July, and the Rankells, who denied the allegations, agreed to institute reforms. The buyer is S. Antonio Realty LLC and the deed was signed by Giovanni DiMaggio.

Correction: an earlier version of this post misspelled ELH Management.

Related Articles

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

From left: 86-08 Queens Boulevard, 169 First Avenue and 3540 Decatur Avenue (Credit: Google Maps)

Raymour & Flanagan purchase tops week’s mid-market investment sales

Renderings of The William Vale and Denizen Bushwick with a Tel Aviv Stock Exchange ticker

All Year eyes sale of William Vale to pay off bonds

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

809 First Avenue and QIA CEO Mansoor Bin Ebrahim Al-Mahmoud (Credit: Google Maps)

Qatar state fund drops $91M on property near UN

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

Clockwise from top left: 37 Perry Street, 595 Broadway, 1424-1428 Lexington Avenue, 204 Fourth Avenue and 93 North Ninth Street (Credit: Google Maps)

Gowanus trade biggest of six mid-market investment sales this week

305 East 46th Street (Credit: iStock)

Japanese firm lands $84M financing for Midtown East buy