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

A five-story walkup sells for $20M

TRD New York /
Mar.March 13, 2019 09:05 AM

Clockwise from top left: 489 Broadway, 47-09 5th Street in Queens, 592-598 Ninth Avenue (Credit: Sherr Equities and Brodsky Organization)

Sherr Equities buys in Soho and the Brodsky Organization sells in Hell’s Kitchen. Here are the details on New York City’s mid-market investment sales last week.

1. A five-story, eight-unit apartment building at 489 Broadway in Soho traded for about $19.9 million. Sherr Equities bought the property, also known at 444 Broome Street, from Yukah LCC, with Tak Jan Yu as its member, according to property records. Morgan Stanley provided a $19 million mortgage for the deal.

2. The Brodsky Organization parted with four neighboring, four-story walk-ups at 592-598 Ninth Avenue in Hell’s Kitchen for $17 million. The buyer was HUBB NYC.

3. Two entities tied to Steve Tallides and Larry Cerullo sold a newly built mixed-use property at 47-09 5th Street in Long Island City for $12.1 million. The buyer was Long Island investor James Kim, said Evan Daniel of Modern Spaces, the listing agent for the property along with Edward DiTomasso and Ashley Grebow. The building, which spans 15,426 square feet, had an asking price of $13.9 million and sold at cap rate of just over 5 percent, Daniel said. Its price per square foot was about $785.


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

From left: 254 Water Street, 45-01 Northern Boulevard and 34-08 46th Street (Credit: Google Maps)

Here’s what the $10M-$30M investment sales market looked like last week

An example of roll-off waste management (Credit: YouTube, iStock)

Big building owners prevent city from dumping container-pickup in trash-collection reform

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

From left: 305 East 47th Street and 286 River Avenue (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Clockwise from top left: 2-34 Beach 102nd Street in Far Rockaway, 175 Canal Street West in Mott Haven, 102 Fulton Street, and 71 Smith Street in Boerum Hill (Credit: Google Maps and StreetEasy)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

arrow_forward_ios