The Real Deal New York

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

Peter Fine buys in the Bronx, SW Management buys pair of Upper East Side buildings
By Christian Bautista | October 31, 2018 08:00AM

An aerial of 1000 Westchester Avenue and Peter FIne (Credit: Google Maps)

In the world of mid-market New York City investment sales last week, S.W. Management scooped up a building portfolio on the Upper East Side and a New Hyde Park-based firm bought two low-rise industrial properties in Long Island City.

1.) Stanley Wasserman’s S.W. Management bought a pair of five-story buildings in the Upper East Side for $12.2 million. The properties at 432-434 East 89th Street span 18,200 square feet and contain 41 apartments. The seller is H&S Realty Associates, which has owned the buildings for the past 25 years. Brax Realty’s Alan Stenson represented both sides in the off-market transaction.

2.) Peter Fine bought 1000 Westchester Avenue, a one-story commercial property in the Longwood section of the Bronx, for $10 million. The 15,200-square-foot building sits at the corner of Simpson Street. The seller is Netta Realty Corp., which is controlled by Gail Harris McEvoy. Fine acquired the first property to change hands under the Jerome Avenue rezoning last May.

3.) New Hyde Park-based Park Construction Corporation bought two adjacent properties in Long Island City for $11.5 million. The properties, at 37-24 and 37-26 30th Street, are both low-rise industrial properties with nearly 20,000 square feet. The seller is CT Brothers, LLC, which was represented by lawyer Jay Lau.