Hamilton Heights development site led mid-market deals last week

Jay Group bought 620 West 153rd Street for about $29M

New York /
May.May 26, 2020 08:00 AM
620 West 153rd Street (Credit: Google Maps)

620 West 153rd Street (Credit: Google Maps)

There were four mid-market investment sales in New York City last week: a Hamilton Heights development site, a pair of Upper West Side multifamily buildings and a Bedford-Stuyvesant commercial building. Here are the details:

  1. The Jay Group purchased 620 West 153rd Street in Hamilton Heights from Anbau for $28.75 million. The development site has a zoning floor area of 150,144 square feet, and JLL’s Bob Knakal, Jon Hageman and Patrick Yannotta brokered the deal. The site is currently home to a pair of commercial buildings spanning about 51,000 square feet, according to the city. Anbau purchased the site in 2018 for $22.5 million and had originally planned to build a pair of condo projects on it with 150 units.
  2. A Manhattan-based LLC purchased 305-311 West 99th Street on the Upper West Side from Sharon Realty for $18.5 million. The multifamily building stands eight stories tall with 46 residential units, and it spans about 48,000 square feet, according to the city.
  3. An LLC with the same Manhattan address bought the nearby 317-319 West 99th Street on the Upper West Side from Dan Company for $18.5 million as well. This is also a multifamily building that spans about 48,000 square feet, and it stands eight stories tall with 34 residential units, according to the city.
  4. The Doe Fund, a nonprofit focused on homelessness and addiction services, bought 510-516 Gates Avenue in Bed-Stuy from the Paul J. Cooper Center for Human Services for $11.1 million. The three-story commercial building spans about 33,000 square feet, according to the city.

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