The Real Deal New York

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

Maddd Equities sells in Flatbush; Marist College buys Fifth Ave. commercial condo
By Christian Bautista | July 09, 2018 01:50PM

Jorge Madruga and 1034 Flatbush Avenue (Google Maps)

1.) Jorge Madruga’s Maddd Equities sold a three-story commercial building in Flatbush for $10.2 million. The 18,000-square-foot property, at 1034 Flatbush Avenue between Regent Place and Beverly Road, is home to a Taco Bell. The buyer appears to be multifamily landlord Renaissance Realty Group, which is financing the acquisition with a $6.6 million loan from Sterling National Bank.

2.) Marist College bought a full-floor commercial condominium at 420 Fifth Avenue for $18.4 million. The building is a 28-story property that sits between East 37th and 38th streets in Midtown. The sellers are the Wasserman family’s AM Property Holding and Samson Klugman’s Quality Capital USA, which acquired four full-floor units in the building in 2016. The Real Deal first reported on the deal last month, when Italian eyewear company Luxottica also took two floors for about $36 million.