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

Nahla Capital snaps up a Madison Avenue retail property for $23M

New York /
May.May 20, 2019 04:15 PM
From left: Joseph Sitt, Yaron Jacobi and Uzi Ben Abraham; 117 East 15th Street, 1122 Madison Avenue and 96-33 Queens Boulevard (Credit: Google Maps, Getty Images)

From left: Joseph Sitt, Yaron Jacobi and Uzi Ben Abraham; 117 East 15th Street, 1122 Madison Avenue and 96-33 Queens Boulevard (Credit: Google Maps, Getty Images)

Joseph Sitt’s Thor Equities and Uzi Ben Abraham and Yaron Jacobi’s Premier Equities continue to shed retail properties with the sale of a Madison Avenue site and a four-story walkup near Union Square that traded for $11 million. These are the mid-market investment sales that were recorded last week with the city’s Department of Finance.

1. Thor and Premier Equities parted with Madison Avenue retail property. Genghis Hadi’s Nahla Capital bought the property, located at 1122 Madison Avenue, for $22.5 million, and Deutsche Bank provided $18 million in financing. The property sits between East 83rd and 84th streets and has 4,200 square feet of space. Premier, which bought the property in 2012 for $13 million, and Thor put the building up for sale in 2014 for $50 million. The Madison Avenue sale isn’t the only recent one for Premier and Thor. The partners earlier this year also sold a commercial condominium at 51 Green Street to Acadia Realty Trust for $14.6 million.

2. A Rego Park retail property at 96-33 Queens Boulevard traded for $13 million. A limited liability corporation tied to investor Richard Harris bought the one-story building from two other LLCs, one tied to Charles Rosner and the other to Richard Balik. Spencer Savings Bank loaned $6.67 million for the deal.

3. Guy Jacobson sold a four-story, seven-unit walkup at 117 East 15th Streetnear Union Square for $11 million. The buyer was Three Sixty CC Inc., registered to a penthouse in Hawaii.


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