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

Wharton Properties sold two commercial buildings in Queens

Dec.December 27, 2018 08:00 AM

136-16 Roosevelt Avenue and 65-63 Grand Avenue in Queens (Credit: Google Maps)

In the world of mid-market New York City investment sales last week, Wharton Properties sold a commercial building in Flushing for $13.5 million along with another in Maspeth for about $10.4 million, according to records filed last week with the New York City Department of Finance.

1) Wharton Properties sold a one-story, 3,125-square-foot commercial property at 136-16 Roosevelt Avenue in Queens for $13.5 million. An entity called Great World Realty LLC, which lists Lian Wu Shao as its managing member, bought the Flushing property. Preferred Bank provided two mortgages for the purchase totaling $9.5 million.

2) Wharton Properties sold another Queens commercial property, 65-63 Grand Avenue. The Bram Auto Group, a network of car dealerships, picked up the site for about $10.4 million. The one-story building is Maspeth currently houses a Bank of America retail location.

3) Prana Investments sold a six-story apartment building at 2304 Sedgwick Avenue in the Bronx for about $14.9 million. The buyer was Desai Real Estate Group LLC, which lists Dinesh Desai as member. Elsewhere in the borough, Prana recently acquired a portfolio of eight multifamily buildings for $65 million from the Morgan Group.

Related Articles

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Brookfield Asset Management CEO Bruce Flatt

“We underwrite every investment like we’re going to hit a recession”: Brookfield CEO

Infinity Real Estate's Steve Kassin and 1715 East 13th Street (Credit: Infinity Real Estate)

South Brooklyn mixed-use shopping portfolio trades for $165M

LA — not Manhattan — topped US investment sales in 2019

LA — not Manhattan — topped US investment sales in 2019

GIC CEO Lim Chow Kiat with Industry City (Credit: Industry City, GIC)

Singapore sovereign wealth fund buys stake in Industry City

229 West 28th Street with Rodgers & Hammerstein (Credit: Getty Images, 229nyc, Rumi)

Lexin Capital puts Midtown South office building up for sale

Robert De Niro and a rendering of Wildflower Studios (Credit: Getty Images and BIG)

Robert De Niro’s Wildflower Studios closes on $72M Astoria site

Clockwise from left: 273 Church Street, 100 Livingston Street, 1135 Boynton Avenue and 1600 Kings Highway with Jeff Sutton (Credit: Google Maps)

Jeff Sutton deal in Brooklyn leads mid-market investment sales