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

Four Winds Real Estate buy two UWS buildings for $22M

New York /
Mar.March 05, 2019 03:00 PM

Clockwise from left: 56-85 49th Street in Queens, 157 West 18th Street, 4-6 and 8-10 West 108th Street (Credit: Google Maps)

A California company picked up an industrial property in Maspeth, and Meyer Orbach sold once again in the Upper West Side. Here are the details on last week’s $20 million to $30 million investment sales market in New York City, per documents recorded with the New York City Department of Finance.

1.) Terreno Realty Corporation bought an industrial transshipment property near the Brooklyn-Queens Expressway for $24 million. The building at 56-85 49th Street has about 18,000 square feet and 36 dock-high loading positions and is leased to one tenant. The property’s estimated stabilized cap rate is 5.3 percent, according to the San Francisco-based company’s press release on the deal. The deed indicates that another parcel at 3 49th Lane also was included in the deal. The seller was J.T. Enterprises, L.P.

2.) Midtown Electric Supply sold its long-time home at the seven-story 157 West 18th Street for $23.2 million to Caspi Development. In the fall, Caspi and its partners sold two office buildings in the Lower East Side to Marx Realty for $48.5 million.

3.) Meyer Orbach closed on his sale of two contiguous apartment buildings in the Upper West Side to David Schneiderman’s Four Winds Real Estate. The price tag for 4-6 and 8-10 West 108th Street, steps from Central Park, was $22 million. Orbach bought the six-story walkups, which have 48 units combined, for $12.25 million in 2013. Argentic Real Estate Investment LLC provided $15.4 million in financing.


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
Commercial real estate investment was harder-hit in the New York metro and Bay Area than in Greater Los Angeles. (iStock)
Los Angeles was top spot for commercial property investment in Covid-ravaged year
Los Angeles was top spot for commercial property investment in Covid-ravaged year
Major real estate stocks ended in negative territory this week. (Getty)
Real estate stocks, markets jittery over inflation
Real estate stocks, markets jittery over inflation
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Joel Landau, chairman and founder of Allure Group. (Google Maps, Score NYC)
These were the top outer-borough loans last month
These were the top outer-borough loans last month
David Schonbraun (SL Green)
SL Green investment chief David Schonbraun steps down
SL Green investment chief David Schonbraun steps down
Aby Rosen and 522 Fifth Avenue (Getty, Google Maps)
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
Nearly half of new shops in 2021 will be dollar stores. (Getty)
2021 is raining dollar stores
2021 is raining dollar stores
arrow_forward_ios

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

Loading...