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

A Queens warehouse is off the market for $17M

TRD New York /
Jul.July 23, 2019 08:00 AM
From left: 195 Bond Street in Boerum Hill, 182-184 Avenue A in the East Village, and 74-16 Grand Avenue in Elmhurst (Credit: Google Maps)

From left: 195 Bond Street in Boerum Hill, 182-184 Avenue A in the East Village, and 74-16 Grand Avenue in Elmhurst (Credit: Google Maps)

Last week’s mid-market investment sales around New York City included one country’s acquisition of a renovated carriage house in Lenox Hill and a church parting with its Brooklyn building. Here are the details on the deals made public last week.

1. Monitor Holding Corp. sold a 70,000-square-foot, three-story industrial property at 74-16 Grand Avenue in Elmhurst, Queens for $16.5 million, according to Kalmon Dolgin Affiliates, whose Neil Dolgin and Grant Dolgin negotiated the sale on behalf of both parties in the deal. In June, the buyer, 74-16 Grand Avenue Storage LLC, which is linked to Storage Deluxe, filed plans with the city’s Buildings Department to tear down the building. Monitor Holding Corp. had owned the property for decades.

2. The Slovak Republic’s Mission to the United Nations picked up a two-story property in Lenox Hill for $16.5 million, property records show. The seller of 167 East 73rd Street was the Laurie M. Tisch Foundation Inc., which acquired the deed in 2017 for $19.25 million from another foundation, records show. The property is classified as a one-to-three family home, with the ground and parlor levels zoned for commercial use and apartments on the second level, according to the property’s listing with Stribling and Associates. Dating to the late 19th century, the renovated carriage house measures 5,700 square feet and was marketed as a possible conversion to a single-family home. Other countries — including the U.S. and the U.K. — also recently made splashy real estate purchases in Manhattan.

3. An apartment complex at 182-184 Avenue A in the East Village traded for $11.5 million. The four-story-tall walk-up sits on two tax lots between East 11th and East 12th Streets. The seller was an entity linked to Granite International Management and the buyer was another limited liability company linked to Great Neck-based landlord Bahram Hakakian. First Republic Bank provided $6.9 million in financing.

4. For $10 million, the United Methodist City Society sold its 9,000-square-foot, one-story-tall church at 195 Bond Street in Boerum Hill. The buyer was design-development firm Tankhouse, property records show.


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