The Real Deal New York

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

Isaac Hager sells Crown Heights site and Highpoint Property Group buys EV rental 
By Christian Bautista | May 29, 2018 02:02PM

Drew Popkin and 174 1st Avenue

1.) Caspi Development bought a six-story office building in Williamsburg for $18.9 million. The property, at 134 Broadway, contains six units and spans roughly 23,000 square feet. The seller is wealth management firm Brooklyn Financial Group, which has owned the building since the mid-1990s. Michael Sherman of Manhattes Group represented the buyer.

2.) Drew Popkin’s Highpoint Property Group bought 174 First Avenue, a five-story walkup in the East Village, for $12.1 million. The 9,384-square-foot building, located between East 10th and 11th streets, contains five apartments and four commercial units. The seller is a joint venture between EBMG, LLC and AMJ Equities.

3.) Isaac Hager’s Cornell Realty Management abandoned plans to build a 16-story, 128 unit residential building at 931 Carroll Street in Crown Heights. The firm sold the vacant lot to Brooklyn-based entity Carroll Development Plaza LLC for $10 million. A recent analysis by The Real Deal found that Hager ranks as one of Brooklyn’s most active developers with nearly 700,00 square feet of projects under construction.

4.) City Skyline Realty bought a six-story rental building in Harlem for nearly $10 million or about $280 per square foot. The property, at 51 Hamilton Place, contains 28 apartments and spans 34,000 square feet. The seller is the Guerrero family, which owned the building for over 40 years. Josh Pomerantz of HPNY represented both the buyer and the seller.