The Real Deal New York

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

FBE Limited sells Bronx warehouse, Big City Realty buys Hamilton Heights apartment building
By Christian Bautista | August 21, 2018 04:00PM

3427 Broadway and 288 Walton Avenue in the Bronx (Credit: Google Maps)

1.) Abraham Fructhandler’s FBE Limited sold a warehouse in the Mott Haven section of the Bronx at 288 Walton Avenue for $16.8 million. The buyer, rental developer Heatherwood Communities, plans to replace the one-story industrial property with a 170,000-square-foot mixed-use building. Heatherwood owns rental assets in Brooklyn, Queens and Long Island, according to its website. Capital Property Partners’ Daniel Rahmani and Nir Mor represented both the buyer and the seller.

2.) Big City Realty Management bought a six-story apartment building in Hamilton Heights for $18 million. The property, at 3427 Broadway at the corner of West 140th Street, contains 31 apartments and four commercial units. The seller is 600 Realty Heights LLC, controlled by accountant Roy J. MacChiarola, which has owned the property since 1984.

3.) A partnership between Arker Companies and Ohio-based Schottenstein Realty Trust sold 2275 Coleman Street, a two-story commercial building in the Marine Park section of Brooklyn, for $12.5 million. The property, which spans 44,000 square feet, was previously listed for $13.3 million, according to a listing from commercial brokerage firm M.C. O’Brien. The buyer is investor Shia Rosenbaum.