What’s this Utah biz doing in NYC? Topping our I-sales list

Last week’s deals also included Related purchase at 30 Hudson Yards

TRD NEW YORK /
Dec.December 16, 2019 04:30 PM
Clockwise from top left: 114 Ridge Street, 780 East 135th Street, 30 Hudson Yards and 1274 Flushing Avenu (Credit: Google Maps)

Clockwise from top left: 114 Ridge Street, 780 East 135th Street, 30 Hudson Yards and 1274 Flushing Avenue (Credit: Google Maps)

Last week was a busy one for mid-market investment sales in New York. Highlights included a Utah-based storage company buying an industrial building in Crown Heights for almost $23 million and Related Companies buying another commercial condo in its 30 Hudson Yards building for about $17.2 million. Here are the details.

  1. Utah-based storage company Extra Space Storage bought a four-story industrial building at 155 Empire Boulevard in Crown Heights for about $22.8 million from LSC Development, a real estate company in Barrington, Ill. The building is slightly less than 62,000 square feet.
  2. A trio of LLCs linked to H Holding Group, Klosed Properties and Namdar Realty Group paid $17.5 million for a five-story warehouse at 780 East 135th Street in the South Bronx. They purchased it from a trio of LLCs linked to Bluestone Group and Princeton Holdings. The property spans 84,650 square feet.
  3. Related Companies bought a commercial condo unit at 30 Hudson Yards from the Metropolitan Transportation Authority for about $17.2 million. Related is the developer of the property and previously bought back WarnerMedia’s office condo in the building for about $2 billion.
  4. An LLC linked to Comfort Management bought a one-story commercial building at 1960 Broadway in Cypress Hills for $12.5 million from Danrich LLC. The building is about 6,500 square feet.
  5. Bushwick-based Juan Perez purchased a one-story warehouse at 1274 Flushing Avenue in the neighborhood for $12.35 million from Chiriac Holdings. The building spans about 21,000 square feet.
  6. iStar bought 110 and 114 Ridge Street on the Lower East Side for $10.5 million from Admiral Capital Group. The commercial building at 110 Ridge Street is one story and 1,900 square feet, and the building at 114 Ridge Street is seven stories and has 23 residential units and four commercial units across about 27,000 square feet.

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