Not quite dead: Trio of mid-market deals in NYC last week

Sales included $29M for three commercial condos at Extell property

TRD New York /
May.May 04, 2020 07:00 AM
Clockwise from the left: 200 East 95th Street, 150 East 45th Street and 52 Greene Street (Credit: StreetEasy; Google Maps)

Clockwise from the left: 200 East 95th Street, 150 East 45th Street and 52 Greene Street (Credit: StreetEasy; Google Maps)

After a three-week stretch in which only two mid-market investment sales were reported in New York City, the sector showed signs of life last week with three deals between $10 million and $30 million hitting property records.

Sales included three commercial condo units at an Extell Development property in Yorkville and an office building in Turtle Bay. Here are the details:

1. A Gramercy Park-based limited liability company purchased three commercial condo units at Extell Development’s 200 East 95th Street development in Yorkville for about $28.7 million. The mixed-use building stands 30 stories tall and spans about 250,000 square feet with 105 residential units, according to the city. It is known as The Kent and consists mainly of three-, four- and five-bedroom condos.

2. An LLC linked to Habib American Bank bought 150 East 45th Street in Turtle Bay from Children’s Aid for $28.25 million. The seven-story office building spans about 32,500 square feet, city records show. The property is known as the Lord Memorial Building. Children’s Aid programs there include foster care and family stabilization.

3. A Lower Manhattan-based company bought 52 Greene Street in Soho for $10.4 million from Joseph Lavelli. The industrial building stands three stories tall and spans about 6,400 square feet, according to municipal records.


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