The Real Deal New York

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

James Rosenquist's estate sells his Tribeca home, Efficiency Capital Advisors buys in the Upper East Side
By Mary Diduch | December 05, 2018 01:00PM

162 Chambers Street (Credit: Sotheby’s International Realty)

In the world of mid-market New York City investment sales last week, the estate of a late Pop artist sold its Tribeca property and Wallack Management Company acquired two Upper West Side residential buildings.

1.) In Tribeca, the five-story townhouse at 162 Chambers Street, once home to artist James Rosenquist, sold for $11.7 million to anonymous buyer 162 Chambers Street LLC. The asking price was about $14.5 million, according to StreetEasy. Rosenquist, who died in 2017, was known in the 1960s for his Pop art along with contemporaries Andy Warhol and Roy Lichtenstein.

2.) Wallack Management Company, a family-run New York City-based real estate firm, bought two five-story residential buildings for $11.45 million from Elta Apartments Inc. in the Upper West Side neighborhood of Manhattan Valley. The buildings, located at 166-168 West 107th Street, were built in 1910.

3.) Townhouse Property Group sold two five-story Upper East Side residential buildings, at 174-176 East 85th Street, to Tokyo-based investment advisory firm Efficiency Capital Advisors. The price tag for the early twentieth-century walk-ups was $16.5 million. The sale comes as Townhouse Property Group plans an eight-story apartment building, likely a condominium project, a few blocks away at 333 East 82nd Street.