The Real Deal New York

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

Site of former Center for Fiction trades for $16.5 million
By Mary Diduch | December 12, 2018 10:30AM

169 West 95th Street (Credit: Google Maps and City Realty)

In the world of mid-market New York City investment sales last week, three buyers linked up for an Upper West side commercial condo and Macklowe Properties snapped up the former Midtown home of the Center for Fiction.

1.) Macklowe Properties snagged the former site of the nonprofit library Center for Fiction for $16.5 million from Sun’s Acres LLC. The library sold the building at 17 East 47th Street to Sun’s in 2014 for $18 million, the first time the property was on the market in about eight decades.

2.) Peter Castellana, Michael Ashkenazy and Anthony Brannan of Metro Mechanical, a Brooklyn-based construction company, dropped $19 million for a commercial condo in the 28-story 169 West 95th Street. The seller of the Upper West Side unit was listed as Starrett Companies. Castellana, whose Cactus Holdings Inc. operates the Western Beef supermarkets, and Ashkenazy have partnered before. In January, the duo bought three commercial properties in the Bronx for $18 million.

3.) North Hudson Realty Corp. sold 163 West 23rd Street, a six-story Chelsea office building that was built in 1931, for about $18 million. The buyer was an LLC tied to Christopher Chang and based in Great Neck, N.Y. Cathay Bank provided $8.7 million in financing.