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

BlackRock sells in Hudson Heights and A&E buys in Washington Heights

New York /
Apr.April 17, 2019 01:30 PM
Clockwise from top left: 110 Bennett Avenue, 81 Wadsworth Avenue, and 35 Pineapple Street in Brooklyn (Credit: Google Maps)

Clockwise from top left: 110 Bennett Avenue, 81 Wadsworth Avenue, and 35 Pineapple Street in Brooklyn (Credit: Google Maps)

Multifamily building transactions were the name of the game among last week’s New York City mid-market investment sales, with a Brooklyn Heights building trading for $10 million and another in Washington Heights for $13 million.

1. For roughly $18.4 million, an entity managed by BlackRock Realty Advisors parted with a pre-war apartment building at 110 Bennett Avenue in Manhattan’s Hudson Heights neighborhood. The buyer of the six-story, 51-unit property was anonymous, going by the entity “110 Bennett Apartments LLC.”

2. A limited partnership connected to Benchmark Real Estate Group sold an apartment building at 35 Pineapple Street, a couple of blocks from the Brooklyn waterfront in Brooklyn Heights, that it had bought in 2016 for $10.3 million. The five-story, 14-unit building sold for $14.92 million to “Anpora Pineapple 35, LLC.”

3. Douglas Eisenberg’s A&E Real Estate Holdings shelled out $13.1 million for a 50-unit, six-story rental building at 81 Wadsworth Avenue in Washington Heights that had been owned by private investor Morris Weinberg, sources said. Capital One provided $6.5 million in financing for the deal. Marcus & Millichap’s Peter Von Der Ahe, Seth Glasser, Joe Koicim and Jacob Kahn represented both parties.

4. In Kips Bay, a limited liability corporation with Michael Tsoumpas as member sold 157 Lexington Avenue, a seven-story multifamily property with 12 apartments, for $11.5 million. The buyer was another LLC tied to Shaun Ajodan, president of Shaun Gems, a Midtown-based importer and supplier of precious gems. Northfield Bank provided $5 million in financing to the new owner. JLL’s Brendan Maddigan, Stephen Palmese, Winfield Clifford, Ethan Stanton, Michael Mazzara and Clint Olsen represented the seller.


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
270 W Montauk Hwy, Hampton Bays, NY (Loopnet)
Legendary Hampton Bays bar up for sale
Legendary Hampton Bays bar up for sale
Prologis Chairman and CEO Hamid Moghadam (Getty, Prologis)
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Industrial space “effectively sold out” amid leasing frenzy, Prologis says
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Starwood raises $10B for distressed real estate plays
Aulder Capital CEO Jonah Bamberger and 162-164 East 82nd Street (Rosewood Realty Group, Slate Property Group)
Two Upper East Side apartment buildings head to foreclosure sale
Two Upper East Side apartment buildings head to foreclosure sale
Stripes founder Ken Fox and a rendering of 40 10th Avenue (Stripes, Neoscape)
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Private equity firm carves out 14K sf at Aurora’s Solar Carve building
Resurrection! Work resumes on stalled Clinton Hill residential project
Resurrection! Work resumes on stalled Clinton Hill residential project
Resurrection! Work resumes on stalled Clinton Hill residential project
CRE held up through the pandemic far better than most expected (iStock)
How commercial real estate survived the pandemic
How commercial real estate survived the pandemic
arrow_forward_ios

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

Loading...