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

A 6-story building in Jamaica sells for $16M

New York /
May.May 08, 2019 03:30 PM
35-46 and 35-66 Junction Boulevard in North Corona and 87-40 165th Street in Jamaica (Credit: Google Maps)

35-46 and 35-66 Junction Boulevard in North Corona and 87-40 165th Street in Jamaica (Credit: Google Maps)

UPDATE: May 9, 2019, 2:20 p.m.: Transactions in Queens dominated last week’s mid-market investment sales world, according to property records filed with the New York City Department of Finance. Here are the details.

1.) BG 37th Avenue Realty LLC, an entity registered to the headquarters of supermarket chain Food Bazaar Supermarket, bought two one-story commercial buildings at 35-46 and 35-66 Junction Boulevard in North Corona for $25 million. Both selling entities — 148 Jamaica Ave. Company LLC and 40-16 National Associates LLC — are registered to the same address in Bellerose and had owned the buildings for years.

2.) In Jamaica, an entity managed by Eric Silverstein parted with the Hillside House, a six-story apartment building at 87-40 165th Street, for $15.75 million. The buyer of the complex, which spans about 121,000 square feet and has 119 units, according to the city’s zoning and land use map, was another limited liability company with Rajmattie Persaud as authorized signatory. Castellan Holdings provided $13 million in financing for the deal. The property, run by late landlord Harry Silverstein, had been the subject of a lawsuit last year filed by its tenants, who alleged the landlords didn’t fix a host of issues at the complex.

Correction: A previous version of this article including the incorrect building size and price per square foot for 87-40 165th Street. The information has since been corrected.


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