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

Sales include a pair of Astoria properties for $24.5 million

New York /
Oct.October 17, 2019 08:30 AM
From left: 254 Water Street, 45-01 Northern Boulevard and 34-08 46th Street (Credit: Google Maps)

From left: 254 Water Street, 45-01 Northern Boulevard and 34-08 46th Street (Credit: Google Maps)

In the two New York City mid-market investment sales made public last week, AB Capstone picked up two Long Island City sites, and an entity linked to City Urban Realty scooped up a residential building in Brooklyn. Here are the details.

1. AB Capstone bought a pair of adjacent properties in Astoria for $24.5 million from a limited liability company. The sites, each with a two-story industrial building, are at 34-08 46th Street and 45-01 Northern Boulevard. The former spans about 8,700 square feet, and the one on Northern Boulevard is about 45,000 square feet. The purchase adds to AB Capstone’s expansive Queens portfolio, which includes 215-15 Northern Boulevard, 47-24 Greenpoint Avenue and 108-18 Roosevelt Avenue.

2. An LLC linked to City Urban Realty bought a five-story apartment building in Brooklyn’s Vinegar Hill from LDMI Realty Group for $15 million. The property, at 254 Water Street, contains 26 units, and apartments have recently rented for between $2,500 and $4,000 per month, according to StreetEasy.


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