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

JRC acquires Astoria apartments; Meir Babaev buys in Ridgewood

TRD New York /
Mar.March 05, 2018 03:20 PM

Prana’s Neil McKinnon and 114 East 168th Street (Credit: LinkedIn and Google Maps)

In the world of mid-market New York City investment sales last week, Meir Babaev bought two commercial buildings in Ridgewood and JRC Management acquired an Astoria apartment building.

1.) JRC Management bought 25-40 30th Road, a five-story rental building in Astoria, for $12.5 million. The property, located between 29th Street and Crescent Street near the Mount Sinai Queens hospital, contains 41 apartments. The seller is Georgis Realty 2540 LLC, which is controlled by Michael and Anna Georgis. JRC also owns a 94-unit rental building at 43-31 45th Street in Sunnyside.

2.) Developer Meir Babaev bought two commercial buildings in Ridgewood for $11 million. The properties included in the deal are 54-31 Myrtle Avenue and 16-37 Woodbine Street. The adjacent buildings are two-story properties with a total of 14 commercial units. The seller is Parkford Corporation. Babaev, who heads AB Capstone, is developing a 180,000-square-foot mixed-use property at 3-50 St. Nicholas Avenue in the same neighborhood.

3.) A group of investors that includes Ephraim Landau sold a six-story, 59-unit Bronx apartment building to San Francisco-based Prana Investments. Landau, who was named one of the city’s worst landlords in 2016, was part of a coalition that cashed out of 114 East 168th Street in Concourse. Prana trimmed its Bronx holdings last year, selling an 11-property portfolio to Isaac Kassirer for $49.3 million.


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
Federal Reserve Chairman Jerome Powell (Getty)

Real estate stocks benefit from second quarter rally

Real estate stocks benefit from second quarter rally
The Seagram Building at 375 Park Avenue with a photo illustration of RFR's Aby Rosen (Getty, Google, iStock)

Aby Rosen to build sprawling gym in Seagram Building

Aby Rosen to build sprawling gym in Seagram Building
68 Gold Street with CW Realty CEO Cheskie Weisz and 1340 East Bay Avenue (Google Maps)

CW Realty purchase makes TRD’s mid-market i-sales list

CW Realty purchase makes TRD’s mid-market i-sales list
Investors are still bullish on senior housing, despite headline struggles in nursing care facilities throughout the pandemic. (Getty)

“It’s a need, not a want” for many residents: Investors eye long-term gains in senior housing

“It’s a need, not a want” for many residents: Investors eye long-term gains in senior housing
Square Mile Capital’s Craig Solomon and Hackman Capital Partner's Michael Hackman with Silvercup Studios at 42-22 22nd Street in Long Island City (Hackman; AAK via Wikipedia Commons)

Hackman, Square Mile in talks to buy Silvercup Studios

Hackman, Square Mile in talks to buy Silvercup Studios
JPMorgan Chase CEO Jamie DImon and 410 Madison Avenue (Getty Images, Google Maps)

JPMorgan Chase closes on $115M buy of Bank of China’s former HQ

JPMorgan Chase closes on $115M buy of Bank of China’s former HQ
A photo illustration of Quora CEO Adam D'Angelo from a scene in the film The Matrix (Warner Bros./Village Roadshow Pictures; Quora)

“Our HQ will be in the cloud”: What if remote-first work is an opportunity, not a compromise?

“Our HQ will be in the cloud”: What if remote-first work is an opportunity, not a compromise?
arrow_forward_ios

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

Loading...