HFZ assemblage play leads New York’s mid-market investment sales

Company purchased three properties on the Upper East Side for a total of about $49M

Mar.March 16, 2020 08:00 AM
150-152 East 79th Street (Credit: Google Maps)

150-152 East 79th Street (Credit: Google Maps)

There were four properties that traded in New York’s mid-level investment sales market last week: a trio of adjacent sites on the Upper East Side and a warehouse in Brooklyn. Here are the details:

1. HFZ Capital bought 150-152 East 79th Street on the Upper East Side for about $30.5 million from Montrose Lexington Associates. Both mixed-use properties stand four stories tall with two residential units, according to the city. The purchase appears to be part of an assemblage play HFZ has been working on since at least 2017, when the firm purchased 1131 Lexington Avenue for $7.1 million. In 2018, the firm bought 1135 Lexington Avenue for $22.5 million.

2. HFZ also purchased 154 East 79th Street on the Upper East Side as part of its potential assemblage play for $18.65 million. The company bought the four-story mixed-use building from a Manhattan-based LLC. It contains three residential units and spans 4,080 square feet, according to the city.

3. A New Mexico-based LLC bought a one-story warehouse in Williamsburg for $18.2 million from Kevsta Inc. The property at 167-171 North First Street spans 13,860 square feet, according to the city.

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