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

A five-story walkup sells for $20M

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
Here’s what the $10M-$30M NYC investment sales market looked like last week
Newest unicorn is property-services startup Lessen
Newest unicorn is property-services startup Lessen
Newest unicorn is property-services startup Lessen
Light i-sales precede heavy eating
Light i-sales precede heavy eating
Light i-sales precede heavy eating
277 Fifth Avenue and Shokai Group's Shawn Xianyang Zhang (277 Fifth Avenue/Rafael Viñoly, Shokai Group)
Shokai Group picks up unsold NoMad condos for $81M
Shokai Group picks up unsold NoMad condos for $81M
Traffic was up 47.5 percent from last year, when coronavirus restrictions and concerns were more rampant. (iStock, Getty)
Black Friday retail traffic stuck below pre-pandemic levels
Black Friday retail traffic stuck below pre-pandemic levels
KPF's A. Eugene Kohn and 11 West 42nd Street (Google Maps, KPF)
KPF expands at Tishman Speyer building after sweetener
KPF expands at Tishman Speyer building after sweetener
Skylight Real Estate Partners founding partner Bennat Berger and 340 Old River Road in Edgewater (Google Maps, LinkedIn)
New firm pays $50M for Edgewater multifamily
New firm pays $50M for Edgewater multifamily
Tishman Speyer CEO Rob Speyer, Turner Construction CEO Peter Davoren and The Spiral at 66 Hudson Boulevard (Getty, Turner Construction, Tishman Speyer)
Build it and we will come: Turner Construction moves HQ to Tishman Speyer’s Spiral
Build it and we will come: Turner Construction moves HQ to Tishman Speyer’s Spiral
arrow_forward_ios

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

Loading...