The Real Deal New York

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

Jews for Jesus acquires West Village resi building, Chinese crowdfunding platform iCross Fund buys LIC industrial property
By Christian Bautista | September 25, 2018 07:00AM

45-47 8th Street

In the world of mid-market New York City investment sales last week, religious organization Jews for Jesus acquired a West Village residential building and Chinese crowdfunding platform iCross Fund bought a Long Island City industrial property.

1.) Jews for Jesus bought a five-story apartment building in the West Village for $16 million. The property, at 45-47 8th Street, is a 17,000-square-foot building with 12 apartments, city records show. The seller is landlord Soonbin Kim, who bought the property for $7.2 million in 2007.

2.) Chinese crowdfunding platform iCross Fund bought 28-08 38th Avenue, a three-story industrial building in Long Island City, for $10.3 million. The seller is Munder Realty Corporation. ICross is planning to build condos at the site. Marcus & Millichap’s Jonathan Eshaghian and Jakub Nowak brokered the deal.

3.) Todd Cohen and Terrence Lowenberg’s Icon Realty Management bought a four-story residential property in the East Village for $10.4 million. The property, at 21-23 Avenue B, contains 12 apartments and four commercial units. The seller is 21-23 Ave. B, LLC, which is controlled by Andrew Chang.