Here’s what the $20M-$30M NYC investment sales market looked like last week

The Sabet Group drops $21M for a mixed-use building in Soho

TRD New York /
Aug.August 12, 2019 01:15 PM
From left: 47-49 Greene Street, 129 West 46th Street and 457 Broome Street (Credit: Google Maps and Meridian Investment Sales)

From left: 47-49 Greene Street, 129 West 46th Street and 457 Broome Street (Credit: Google Maps and Meridian Investment Sales)

From a Soho retail condo to a Times Square hotel, here are the details on New York City’s commercial deals last week.

1.) Acadia Realty Trust bought another retail condominium unit along Soho’s Greene Street, where the real estate investment trust already owns several retail stores, property records show. Acadia shelled out $24.8 million for the retail space at EMP Capital’s 47-49 Greene Street, which houses a Theory store.

 

2.) Apple Core Holdings sold a nine-story, nearly 27,000-square-foot Times Square hotel for $24 million, according to property records. Key Hotels, LLC, was the buyer of 129 West 46th Street, which appears to be a Casa Tua hotel, and secured a $16.75 million mortgage from W Financial Fund, LP, for the deal.

 

3.) The Sabet Group picked up 457 Broome Street, a six-story, mixed-use building in Soho, for $21.3 million, according to property records. The seller was Beam-Rich Inc. The almost 25,000-square-foot building has nine apartments, plus retail and office space, according to Commercial Observer, which first reported on the transaction. Meridian Capital Group’s David Schechtman, Lipa Lieberman and Abie Kassin represented the seller.


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