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

Sabet buys a West Village rental, Kopelowitz sells two buildings in Washington Heights

TRD New York /
Oct.October 02, 2017 06:00 PM

Updated Oct. 20, 6:08 p.m.: In the world of mid-market New York City investment sales last week, a Williamsburg apartment building traded for more than double the sales price four years ago, and a 20-unit building in the West Village sold for $12 million.

1.) In the West Village, Alferd Sabet’s Sabet Group picked up a 20-unit apartment building for $11.6 million. The seller, Alan Farber, owned the five-story building at 321 West 11th Street since the 1970s.

2.) Michael Dwyer’s Magna & York snagged a five-story walk-up in Tribeca for $10.75 million. The building at 104 Franklin Street is divided into a retail unit on the ground floor and two residential units above. The building belonged in the seller’s family since 1978.

3.) Pinny and Moishe Loketch of the Loketch Group sold off a mixed-use building in Williamsburg for double what they paid. In 2013, they paid $5 million for the six-story building at 524 Metropolitan Avenue, and sold it this week for $11,300 to Metropolitan Avenue Associates. The 20-unit building is fully occupied, and the two commercial spaces are both leased to Yola’s Café. Cushman & Wakefield’s Brendan Maddigan represented the sellers.

4.) Safe N Lock bought a 94,444-square-foot storage facility in Midwood from the Utah-based Extra Space Storage for $19 million. The four-story commercial building at 1296 East 14th Street spans 95,444 square feet. The facility spans nearly an entire block, with frontage along Avenue M and Locust Avenue as well as along East 13th and 14th streets.

5.) A group of investors including Xin Xiang Lin bought a 11,566-square-foot parking facility a 70-65 Queens Boulevard for $10.5 million. The previous owner, Sunny K Realty, bought the property in 1998. Lin is behind a proposed 84-unit condominium building at 1587 East 19th Street in Midwood.

6.) Alchemy Ventures bought two adjacent apartment buildings in Washington Heights for $11.5 million. The seller, Shaul Kopelowitz, had bought the two buildings at 82-84 Wadsworth Avenue for $7.4 million in 2014. The five-story buildings have 46 residential units between them.

This story has been updated to reflect that Safe N Lock is the buyer of a storage facility at 1296 East 14th Street. An earlier version named the buyer as Kimco Realty. 


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
Joe Moinian and 123 Linden Blvd. (Moinian Group)

These were the top outer borough loans in July

These were the top outer borough loans in July
Clipper Equity's David Bistricer (REIT)

David Bistricer’s Clipper Realty reports record Q2 profit

David Bistricer’s Clipper Realty reports record Q2 profit
Vornado CEO Steven Roth and a rendering of the Farley Post Office building (Getty, iStock, SOM)

Vornado will install facial recognition tech in all its buildings

Vornado will install facial recognition tech in all its buildings
(iStock)

TRD Insights: International real estate investment tumbles in Q2 with US hardest hit

TRD Insights: International real estate investment tumbles in Q2 with US hardest hit
KKR’s Henry Kravis and George Roberts and 260 gold street (Getty; rendering via J Frankl Architects)

KKR teams up with Dalan on big Brooklyn multifamily buy

KKR teams up with Dalan on big Brooklyn multifamily buy
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
JLL CEO Christian Ulbrich (Ulbrich by Jemal Countess/Getty Images for Women's Forum of New York)

JLL profits halved by pandemic

JLL profits halved by pandemic
arrow_forward_ios

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

Loading...