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

A 16-story UES building trades for $20M

New York /
Jul.July 05, 2019 07:00 AM
266 East 78th Street

266 East 78th Street

Multifamily investment sales in Manhattan and Brooklyn comprised last week’s mid-market investment sales, per records filed with the New York City Department of Finance.

An entity linked to Blackstone Real Estate Advisors parted with 266 East 78th Street, a 16-story, 17-unit rental apartment building near Second Avenue in the Upper East Side, for $19.7 million. The property spans about 22,800 square feet, pricing the deal at roughly $866 per square foot. The buyer was another limited liability company, with investor Elliot Sohayegh as member, and took on the $9.7 million mortgage New York Community Bank holds on the property. The seller had acquired the building in 2015, for $20.7 million.

Three contiguous apartment buildings near Prospect Park in Brooklyn traded for $10.15 million. The seller was Caton Avenue Associates LLC, managed by Marc Friedman, and the buyer was Coney Cat LLC, with Eric Miller as managing member. The four-story walk-ups sit on the corner of Coney Island and Caton Avenues, with 48 apartments. The addresses are 399 Coney Island Avenue, 910 Caton Avenue and 2 East 10th Street. New York Community Bank provided $5.17 million in financing.


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
Commercial real estate investment was harder-hit in the New York metro and Bay Area than in Greater Los Angeles. (iStock)
LA was top spot for commercial property investment in Covid-ravaged year
LA was top spot for commercial property investment in Covid-ravaged year
Blackstone CEO Stephen Schwarzman (Getty, iStock)
Blackstone buys San Diego apartment complexes in $1B deal
Blackstone buys San Diego apartment complexes in $1B deal
14 Vesey Street, 1123 Avenue J in Brooklyn, and Jeff Sutton of Wharton Properties (Americasroof/Wikipedia, Google Maps, Wharton)
Jeff Sutton unloads Midwood commercial building
Jeff Sutton unloads Midwood commercial building
Cushman & Wakefield CEO Brett White (Cushman)
Cushman eyeing M&A opportunities post-pandemic
Cushman eyeing M&A opportunities post-pandemic
Maverick Real Estate Partners principal David Aviram and the buildings to be sold. (Rosewood Realty Group)
Part of Chaskiel Strulovitch’s Brooklyn portfolio to be sold at auction
Part of Chaskiel Strulovitch’s Brooklyn portfolio to be sold at auction
1240 Morrison Avenue in Soundview, 1769 86th Street in Bensonhurst and 73-99 Empire Boulevard in Crown Heights (Google Maps)
Alex Adjmi’s A&H Acquisitions buys Crown Heights industrial complex
Alex Adjmi’s A&H Acquisitions buys Crown Heights industrial complex
A rendering of The Pinnacle (Kislak)
Luxury rental complex in Fort Lee sells for $55M
Luxury rental complex in Fort Lee sells for $55M
arrow_forward_ios

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

Loading...