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

Bruman Realty buys an Astoria development site for $11.5M

TRD New York /
Jan.January 30, 2019 08:00 AM

47-20 30th Street in Long Island City (Credit: Google Maps)

In the world of mid-market New York City investment sales, an Astoria development site was one of the transactions that hit public records last week.

1.) In the biggest sale of last week in the $10 million to $20 million range, an entity connected to investor Jacob Schwimmer sold a parcel between Boynton and Morrison Avenues in the Bronx for $18.5 million. An LLC tied to developer Bernard Jacobowitz was the buyer.

2.) In Astoria, an industrial development site comprised of two tax lots at 26-24 4th Street traded for $11.5 million. Bruman Realty bought the site from LAC Realty Corp. Alfonso Holloman of Lee & Associates NYC arranged the sale of the roughly 25,500-square-foot site for both parties. The tax lots are zoned residential but a 20,000-square-foot warehouse sits on one of the lots; the other is vacant land. The parcels allow for a building of just under 68,000 square feet, according to a press release from Lee & Associates.

3.) A 30,000-square-foot industrial building at 47-20 30th Street in Long Island City sold for $13.4 million. Sunrise Asset Holdings Co., which property records list its president as Weisheng Chen, bought the site. The seller was Jomeira Realty, with Jodi Ehren as manager.


Related Articles

arrow_forward_ios
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

Here’s what the $10M-$30M NYC investment sales market looked like last week
Nightingale's Elie Schwartz and Madison's Brian Shatz (Whale Square)

Nightingale buys Whale Square in Sunset Park for $84M

Nightingale buys Whale Square in Sunset Park for $84M
Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

New York’s CRE woes could spread nationwide: investors
Subversive CEO Richard Acosta (Photos via ICSC; iStock)

Riding high: Inception, Subversive to launch publicly traded cannabis REIT

Riding high: Inception, Subversive to launch publicly traded cannabis REIT
Gov. Andrew Cuomo announced that movie theaters in some New York counties can reopen, but NYC’s theaters are excluded for now. (Getty; iStock)

Cuomo: Movie theaters can reopen — but not in NYC

Cuomo: Movie theaters can reopen — but not in NYC
Blackstone’s Stephen Schwarzman, Roku CEO Anthony Wood and Coleman Highline in San Jose (Blackstone; Wikipedia Commons; Coleman Highline)

Blackstone buys Roku’s Silicon Valley office buildings

Blackstone buys Roku’s Silicon Valley office buildings
IKEA Chief Sustainability Officer Pia Heidenmark Cook (IKEA, iStock)

Ikea will buy back your old furniture on Black Friday

Ikea will buy back your old furniture on Black Friday
Gov. Andrew Cuomo (Getty, iStock)

New York lost $755M in real estate tax revenue this year: REBNY

New York lost $755M in real estate tax revenue this year: REBNY
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...