The Real Deal New York

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

By Christian Bautista | February 05, 2018 04:49PM

402 East 83rd Street and Jonathan Gray (Credit: Google Maps)

In the world of mid-market New York City investment sales last week, Blackstone Group and Fairstead  Capital offloaded another property from the Caoila portfolio, and Castellan Real Estate Partners sold a Flatbush apartment building.

1. Blackstone and Fairstead offloaded another piece of the Caiola portfolio. The partners sold 402 East 83rd Street, a nine-story, 27-unit apartment building in the Upper East Side for $13.3 million. The buyer appears to be Mautner-Glick, a family-owned firm that recently bought a nearby assemblage at 212-218 East 85th Streetfor $30 million. Blackstone and Fairstead put eight Upper East Side Caiola buildings on the market in August. Two pieces of the 24-building package, 1485 First Avenueand 114 East 40th Street, were recently sold in separate transactions for a combined $38.6 million.

2. Castellan sold an apartment building in Flatbush for $13.8 million. The property, at 1084 New York Avenue, is a four-story residential building with 62 apartments and one commercial unit. The buyer is 1084 NY Ave LLC, which records show is controlled by Mark Weinberger.

3. New Jersey firm Medical Diagnostic Laboratories sold a five-story walk-up in Midtown to investor Nancy Ha for $11.2 million. The property, with the address 459 West 43rd Street, contains 13 apartments. Medical Diganostic bought the property for $10.5 million in 2014. Ha is financing the purchase with a $6.7 million loan from Investors Bank.