The Real Deal New York

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

Jackson Group buys Soho commercial condo, Extell closes on corner building in UES assemblage
By Christian Bautista | April 23, 2018 03:00PM

424-426 Broadway and Jackson Group’s Elliott Chehebar

1.) The Jackson Group bought a commercial condo at 424-426 Broadway in Soho for $11 million. The seller is the Shih family, which has owned the unit since the 1980s. The Jackson Group, headed by Ike and Elliot Chehebar, recently sold the Church of the Redeemer site at 561 Pacific Street for $36 million .

2.) Extell Development closed on its acquisition of a four-story mixed-use building on the Upper East Side from Seligman Roseberg’s Montrose Associates for $16.2 million. The property, at 1514 First Avenue, contains seven apartments and two commercial units. The parcel is the corner property in an assemblage that Extell has been accumulating over the past decade . The developer is gathering an assemblage spanning more than 250,000 buildable square feet.