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

JAM Real Estate buys a five-story walkup in the Upper East Side

From left: 2785 Broadway, 521 Bergen Avenue in the Bronx, and 1685 First Avenue (Credit: Google Maps)
From left: 2785 Broadway, 521 Bergen Avenue in the Bronx, and 1685 First Avenue (Credit: Google Maps)

In the world of New York City’s recent mid-market investment sales, a multifamily complex in Manhattan Valley sold for about $23 million and an industrial property in the Bronx went for almost $12 million. Here are the details on some of the Big Apple’s commercial deals valued between $10 million and $30 million that were made public last week.

1.) A seven-story, 87-unit mixed-use building at 2785 Broadway near Columbia University in Manhattan traded for $22.6 million, according to property records. The buyer was TriArch Real Estate Group. Dime Community Bank provided $16 million in financing for the deal. The sellers were five companies: Adama Holdings LLC, Crane Key Co. LLC, Noam Associates LLC, FLI Properties LLC and Israel Family Noam LLC.

2.) The Hospital for Special Surgery snapped up what appears to be a six-story parking garage at 524 East 73rd Street for about $19.7 million, according to property records. The seller was decades-long owner River Company LLC, with Debra Fechter as its manager. The property sits about two blocks north of the hospital’s main campus.

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3.) JAM Real Estate Partners’ Jared Pinchasick picked up a six-story, mixed-use walkup at 1685-1687 First Avenue in the Upper East Side. The price tag was $13 million, according to the Collaborative Group, whose Andrew Natter and Harold Fuchs brokered the deal on behalf of both parties. The seller of the 16,889-square-foot building, which has two stores and 27 apartments, was the Punnett family. Jam Real Estate Partners recently sold another five-story walkup nearby at 223 East 89th Street, for $11.95 million.

4.) An entity called 521 Bergen Properties LLC bought a six-story, nearly 44,000-square-foot industrial building in the South Bronx for $11.75 million, property records show. Seller Abingdon Square Partners had acquired 521 Bergen Avenue in 2017 for $7.1 million.