The Real Deal New York

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

Takamatsu Construction Group acquires UES building, Highcastle Management buys in Washington Heights
By Christian Bautista | July 02, 2018 03:10PM

224 East 59th Street and 4 South Pinehurst (Credit: Google Maps)

In the world of mid-market New York City investment sales last week, Japanese firm Takamatsu Construction bought an Upper East Side property from Itzhaki Acquisitions and Highcastle Management acquired a Washington Heights apartment building.

1. Japanese firm Takamatsu Construction Group bought a fully-leased Upper East Side apartment building for $14 million, according to property records. The property, at 224 East 59th Street, is a five-story mixed-use building with 16 apartments and one commercial unit. The seller is Itzhaki Acquisitions, which bought the property for $11.4 million in 2016. Cushman & Wakefield’s Clint Olsen and Will Conrad marketed the building.

2. Highcastle Management bought 4 South Pinehurst Avenue, a six-story apartment building in Washington Heights, for $19.6 million. The 60,000-square-foot property, which sits at the corner of Pinehurst Avenue and West 177th Street, contains 43 apartments. The seller is South Pinehurst LLC.

3. Barberry Rose Management bought an apartment building in the Weeksville section of Brooklyn for $11.45 million. The property, at 826 Crown Street, is a six-story building with 47 apartments. The seller is listed as 826 Crown LLC.