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

Rentals in the Bronx and Gramercy Park trade hands

New York /
Dec.December 27, 2017 08:30 AM

In the world of mid-market New York City investment sales last week, a Gramercy Park rental sold for $13.5 million, and Sion Misrahi picked up a rental in the Bronx’s Little Italy.

1.) Sunny Paek’s Sunny K Realty paid $13.5 million for an 18-unit mixed-use building at 18 East 23rd Street. The Gramercy Park property includes 16 apartments and two commercial units, and was last sold for $5.7 million in 2010. The seller is Bait & Tackle Realty LLC, of which Charles Milite, who owns several restaurants, is a member. Milite is behind Flatiron’s Live Bait, the Coffee Shop at Union Square, and Luna Park, which is now closed.

2.) Sion Misrahi’s Misrahi Group picked up a 47-unit building in the Bronx for $12 million. The 55,331-square-foot building at 1825-1835 Needham Avenue, was once owned by the city. The seller is Beechwood Needham Management Company. Misrahi recently sold a 24-unit rental at 11 Essex Street on the Lower East Side for $11.4 million.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Leslie Alexander, 18 Gramercy Park South (Getty, Douglas Elliman)
Former NBA owner lists Gramercy Park penthouse for $49M
Former NBA owner lists Gramercy Park penthouse for $49M
Chair of the Federal Reserve of the United States Jerome Powell (Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Recession fears curb rental demand in US
Recession fears curb rental demand in US
(Getty)
Manhattan office leasing jumps as availability and rents drop
Manhattan office leasing jumps as availability and rents drop
Stephen Ross and 50 Hudson Yards (Getty Images, Hudson Yards New York)
Related lands $349M for 50 Hudson Yards
Related lands $349M for 50 Hudson Yards
From left: Assemblyperson Inez Dickens and Councilperson Kristin Richardson Jordan
Pol who killed Harlem project could face primary challenge
Pol who killed Harlem project could face primary challenge
arrow_forward_ios

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

Loading...