The Real Deal New York

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

ExxonMobil sells vacant lot, HUBB NYC buys in the East Village
By Christian Bautista | January 09, 2018 03:15PM

Clockwise from top left: 143-48 41st Avenue, 186-188 First Avenue and 378 Greenpoint Avenue (Credit: Ariel Property Advisors and Google Maps)

In the world of New York City mid-market investment sales last week, film production company Broadway Stages bought a vacant lot from ExxonMobil and HUBB NYC Properties acquired two East Village walkups.

1.) Film production company Broadway Stages bought a vacant lot from ExxonMobil for $10.2 million. The 89,555-square foot parcel is located at 378 Greenpoint Avenue in Greenpoint. Broadway Stages, which has its offices nearby at 203 Meserole Avenue, operates more than 40 sound stages in Brooklyn and Queens.

2.) HUBB NYC purchased 186-188 First Avenue, two mixed-use buildings in the East Village, for $14.25 million. The properties are two five-story walkups with 16 apartments and three retail spaces. The buildings changed hands for the first time in 37 years. Brax Realty’s Michael Ferrara represented HUBB NYC and seller Allen Park.

3.) W Brothers Realty acquired a six-story multifamily building in Flushing for $14.1 million. The elevator property, at 143-48 41st Avenue, contains 54 apartments. The seller is Urban American Management. In July, W Brothers bought the residential portion of 66 Pearl Street for $26.8 million.

4.) Salt Equities sold a five-story mixed-use building in the Upper East Side for $12 million. The property contains 16 apartments and one commercial unit. The buyer is 1403 2nd Avenue LLC.