The Real Deal New York

Here’s what the $20M-$30M NYC investment sales market looked like last week

Jonas Equities sold 500 Dekalb Avenue for $23.3 million
By Mary Diduch | January 02, 2019 07:00AM

Peter Fine and 1986-1998 Second Avenue (Credit: Google Images)

A development site along the Second Avenue subway path and a Williamsburg office building were among the properties that traded hands in the $20 million to $30 million range last week, according to NYC Department of Finance filings made public last week.

1. Peter Fine’s new venture Bolivar Development bought several parcels along Second Avenue in East Harlem for $28.5 million — the priciest deal for investment sales among last week’s public filings. Fine previously told The Real Deal he plans to build an apartment building with 160 rental units at the site, along the path of the Second Avenue subway’s next phase. The development parcels occupy almost a full block along Second Avenue between 102nd and 103rd streets. The seller was Bonjour Capital.

2. Acuity Capital Partners snapped up a Brooklyn office building for $22.35 million from Blesso Properties. Acuity plans to renovate the property, located at 545 Broadway in Williamsburg. DW Partners provided $25 million worth of financing for the deal.

3. Jonas Equities sold 500 Dekalb Avenue in Brooklyn, a six-story office building that was the former home of the North Brooklyn SNAP Center and the Dekalb Job Center. Buying entity Dekalb Center LLC, which lists Joseph Heimann as its managing director, paid about $23.3 million for the property and secured roughly $21 million in financing for the deal from A10 Capital LLC.