The Real Deal New York

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

A Queens industrial site trades for more than double its price a year ago
By Mary Diduch | January 22, 2019 10:00AM

201 East 164th Street in the Bronx and 62-25 30th Avenue in Queens (Credit: Google Maps)

Updated, Jan. 22, 3:50 p.m.: New York City investment sales within the $20 million to $30 million range last week included the Lightstone Group picking up a Bronx apartment complex and a Queens industrial property selling for more than double its price just a year ago.

1.) The Sheridan Court Mews, located at 201 East 164th Street in the Bronx, traded for $24.5 million last week, according to a source. The Lightstone Group bought the six-story building from Sheridan Court Mews Associates L.P. It has 129 apartments and one commercial space. Westbridge Realty Group’s Adam Traub and Ariel Benyacov brokered the deal.

2.) Mayer Malbin, a plumbing supplier, bought an industrial building at 62-25 30th Avenue in Queens for $22.75 million, according to a record filed last week with the city’s Department of Finance. The seller was Illinois-based firm LSC Development, which picked up the site last year for about $9 million.

Update: This article was updated to include the brokers on the Sheridan Court Mews deal.