Outer boroughs dominate mid-market deals last week

Among them, BlackRock sold in Flushing and Treetop Development sold in Crown Heights

New York /
Jul.July 07, 2020 07:45 AM
1107 Dekalb Avenue (Google Maps)

1107 Dekalb Avenue (Google Maps)

Mid-market investment sales picked up in the city last week with four transactions, all in the outer boroughs. That compared to just two deals in the same $10 million to $30 million range the week before. Three were for multifamily buildings with a diversity of sellers that included private equity and the city Housing Authority. The fourth involved a colorful hotel building and an Ohio-based educational nonprofit.

1. BlackRock Realty Advisors sold a multifamily building at 105-05 69th Avenue in Flushing, to Global One Investments for $26.5 million. The transaction took place between the companies’ respective LLCs.

2. Property management firm ABCNY Inc., acting through its LLC, sold 1107 Dekalb Avenue in Bed-Stuy for $18 million. The buyer was an educational nonprofit, Youth Art Life, via its LLC. The hotel was reportedly constructed as “fully automatic,” with guests checking in through kiosks.

3. Treetop Development — via 560-570 Lefferts Avenue Holding LLC — sold two multifamily buildings at 556 and 570 Lefferts Avenue in Crown Heights for $18.25 million. The buyer was Meridian Properties through the entity M&M Lefferts Realty LLC.

4. The New York City Housing Authority sold a vacant lot on Myrtle Avenue in Brooklyn for $16.6 million to Maddd Equities via YYY Brooklyn NY LLC. The land will be used to develop affordable housing, according to public records of the transaction.

Contact Orion Jones at [email protected]


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
Light i-sales precede heavy eating
Light i-sales precede heavy eating
Light i-sales precede heavy eating
Clockwise from top left: 2875 Morningside Heights, 38-21 12th Street in Long Island City, 46 Nevins Street in Brooklyn (Google Maps)
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors continue to snatch up city’s multifamily, industrial assets
Investors continue to snatch up city’s multifamily, industrial assets
Investors continue to snatch up city’s multifamily, industrial assets
CommonWealth Partners CEO Brett Munger and Hudson Commons at 441 Ninth Ave (CommonWealth, Hudson Commons)
CommonWealth Partners buying Hudson Commons for more than $1B
CommonWealth Partners buying Hudson Commons for more than $1B
Village theater back on market after failed deal; 3 more warehouses sell
Village theater back on market after failed deal; 3 more warehouses sell
Village theater back on market after failed deal; 3 more warehouses sell
Parking spaces, resi building trade at discounts
Mid-market investors score parking garages, Queens apartments at discounts
Mid-market investors score parking garages, Queens apartments at discounts
Ben Ashkenazy dumps Midtown retail building at $6M loss
Ben Ashkenazy dumps Midtown retail building at $6M loss
Ben Ashkenazy dumps Midtown retail building at $6M loss
arrow_forward_ios

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

Loading...