The Real Deal New York

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

Wharton Properties picks up Bronx site for $10.3M
By Mary Diduch | February 13, 2019 08:30AM

Jeff Sutton of Wharton Properties and the Pelham Bay Diner at 1920 East Gun Hill Road in the Bronx (Credit: Google Maps and YMWREA)

In the world of New York City’s mid-market investment sales last week, an office building sold for $11 million and Jeff Sutton picked up a commercial site in the Bronx. Here is a closer look at some of the deals that were recorded with the New York City Department of Finance last week.

1.) In Murray Hill, a three-story office building that was the headquarters of Carlin America Inc. traded for $11 million. The music publishing company sold the property, located at 126 East 38th Street, to Lia Holdings Inc., which appears connected to Banville Wine Merchants. Round Hill Music last year acquired Carlin, which has an extensive catalogue of iconic songs like “Under the Boardwalk” and “What a Wonderful World.”

2.) The Pelham Bay Diner, which sits near the Mall at Bay Plaza at 1920 East Gun Hill Road in the Bronx, sold its building and neighboring parking lot to Jeff Sutton’s Wharton Properties for $10.25 million. Sutton recently sold a portfolio of four Downtown Brooklyn buildings for $22 million to United American Land.

3.) An entity connected to JLJ V Enterprises snagged a three-story commercial building at 37-50 Railroad Avenue near the Newtown Creek in Queens for $10.25 million. The Queens Village-based contractor bought the site from Noll Metals Co. LLC.