The Real Deal New York

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

Barberry Rose Management buys in Inwood, Stellar Management and City Urban Realty acquires Williamsburg apartment building
By Christian Bautista | November 05, 2018 06:30PM

9 Post Avenue (Credit: Google Maps)

In the world of mid-market New York City investment sales last week, Barberry Rose Management bought an Inwood property and Stellar Management and City Urban Realty acquired a Williamsburg apartment building.

1.) Barberry Rose Management bought a five-story apartment building in Inwood for $10.4 million. The property, at 9 Post Avenue, is a 42,100-square-foot building with 48 apartments, according to city data. The sellers are 9-15 Post LLC and PS Post Ave LLC, with Michael Adler as the signatory. Barberry Rose is funding the purchase with a $5.3 million mortgage from Dime Community Bank.

2.) Stellar Management and City Urban Realty acquired 326 Bedford Avenue, a six-story mixed-use building in Williamsburg, for $12 million. The 25,200-square-foot property contains 32 apartment and two commercial units, city data shows. The seller is landlord George Wanat.

3.) Brooklyn developer Shlomo Karpen bought a Brooklyn portfolio for $15.3 million. The properties, at 1, 7 and 9 Wythe Avenue in Greenpoint, are adjacent one-story properties that occupy a triangular site bounded by Wythe Avenue, North 15th Street and Banker Street. The seller is Berry Wythe LLC, which is controlled by Staten Island investor Patrick Turturro.