CW Realty purchase makes TRD’s mid-market i-sales list

Brooklyn luxury developer plans 59-unit rental on the property in Vinegar Hill

New York /
Jul.July 01, 2020 08:00 AM
68 Gold Street with CW Realty CEO Cheskie Weisz and 1340 East Bay Avenue (Google Maps)

68 Gold Street with CW Realty CEO Cheskie Weisz and 1340 East Bay Avenue (Google Maps)

UPDATED, July 1, 10:37 a.m.: CW Realty’s purchase of a property in Vinegar Hill that it will develop into a luxury rental building was among the city’s two mid-market investment sales last week. The other was for a development site in the Bronx acquired by Wildflower. Here are the details:

1. Wildflower Ltd, through the LLC WF Industrial VIII, paid $26.5 million for the property at 1340 East Bay Avenue in the Bronx. It spans 120,000 square feet. Wildflower invests in studios, logistics and self-storage properties. The seller was an LLC linked to Sims Metal Management.

2. An LLC tied to developer CW Realty paid $20.25 million to Paul Tocci’s 251 Front Street Realty Inc. for a property at that address — also known as 68 Gold Street — in Vinegar Hill. The Brooklyn property spans 20,000 square feet, and has stirred controversy since a church on the site was demolished in 1992 to prepare for the construction of condos. Led by Cheskie Weisz, CW Realty plans to construct a five-story, 59-unit luxury rental complex at the 251 Front Street location, The Real Deal reported in January.

Correction: A previous version of this story incorrectly identified the buyer as the seller for the East Bay Avenue property.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

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

Here’s what the $10M-$30M NYC investment sales market looked like last week
Damien Dwin of Lafayette Square Holding (Photos via Lafayette; iStock)

Sustainable housing is focus of Damien Dwin’s social justice effort

Sustainable housing is focus of Damien Dwin’s social justice effort
Clockwise from top left: 48 Bedford Avenue in Williamsburg; 7601 4th Avenue in Bay Ridge; 55-25 58th Street in Maspeth; 42, 44 and 46 21st Street in Flatiron; 59-20 Van Doren Street in Corona (Photos via StreetEasy; Google Maps)

Mid-market investment sales off to strong start in 2021

Mid-market investment sales off to strong start in 2021
Dov Hertz and an aerial of 1900 South Avenue in Staten Island (Photos via Adam Pincus; Google Maps)

Dov Hertz picks up Staten Island site for $65M

Dov Hertz picks up Staten Island site for $65M
332 Monitor Street and 1400 Benson Street, which were sold last week. (Google Maps)

ExxonMobil sells Greenpoint parcel decade after agreeing to big cleanup

ExxonMobil sells Greenpoint parcel decade after agreeing to big cleanup
Clockwise from top left: 1529 62nd Street in Bensonhurst, 46-28 21st Street in Long Island City, 128 Houston Street in the Bowery, 718 East 211 Street in East Bronx and 47 West 55th Street in Midtown (Google Maps)

Mid-market sales slow in final weeks of the year

Mid-market sales slow in final weeks of the year
Lendlease’s Melissa Burch with 1 Java Street  and Miki Naftali with 470 Kent Avenue (Burch via Max Dworkin; Jll; Naftali Group; Google Maps)

Brooklyn dominates top development site deals of 2020

Brooklyn dominates top development site deals of 2020
Clockwise from left: Brookfield Property Group CEO Brian Kingston, 845 East 136th Street in the Bronx, 1010 Bedford Avenue and 120 Evergreen Avenue in Brooklyn (Google Maps; Brookfield)

Brookfield, All Year highlight big week for mid-market sales

Brookfield, All Year highlight big week for mid-market sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...