The Real Deal New York

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

Cayre Equities picks up former Harlem gas station site, Apex buys in the Bronx
By Christian Bautista | May 07, 2018 02:30PM

119 West 145th

1.) Cayre Equities bought the former Getty gas station site in Harlem for $10.5 million. The one-story property, at 119 West 145th Street, spans about 4,430 square feet. The seller is Platinum Realty Associates, which bought the site for $4.6 million in 2015. Cayre’s Manhattan portfolio includes a pair of two-story retail buildings at 222-228 West 125th Street and 136 West 34th Street across from Macy’s in Herald Square.

2.) Landlord Luellen Goldstein sold a four-story mixed-use building at 154 East 79th Street on the Upper East Side for $12.8 million. The buyer is East 79th Street Development LLC, which is controlled by Nancy Black. The property was previously the subject of a lawsuit between Goldstein and law firm Stern Keiser & Panken. Goldstein filed a malpractice suit, claiming that the law firm hired an appraiser that undervalued the building by $4.3 million. Goldstein also owns 1275 Third Avenue, which houses the clothing store of TV host Marcus Lemonis.

3.) Apex Investments bought an office building and two development sites in the Crotona Park East area of the Bronx for $12.7 million. The sale includes 1527 Southern Boulevard, a two-story building at the corner of East 172nd Street, and the vacant lots at 1520 and 1528 Minford Place. The seller is Gem Equities LLC, which is controlled by George E. Maloof.