Pandemic-proof, $29.5M deal for Brooklyn office building closes

At the height of Covid, a deal came together for a turn-key building in Bensonhurst

TRD New York /
Aug.August 18, 2020 08:00 AM
6201 15th Avenue in Bensonhurst and 185 Claremont Avenue with BlackRock CEO Larry Fink (Google Maps; Fink by Eugene Gologursky/Getty Images for IRC)

6201 15th Avenue in Bensonhurst and 185 Claremont Avenue with BlackRock CEO Larry Fink (Google Maps; Fink by Eugene Gologursky/Getty Images for IRC)

Not even the pandemic could stop a $29.5 million deal for four stories of turn-key Brooklyn office space and a parking lot across the street.

“There was fierce competition despite the Covid craziness of late April, early May, and the seller knew what he had,” said Dan Marks of TerraCRG, which represented the owner.

The remainder of last week’s $10 million to $30 million investment sales were of multifamily buildings — one in Manhattan, one in Queens — and a warehouse scooped up from the federal government near Industry City in Brooklyn.

1. American Stock Transfer & Trust, doing business as Armor Acquisition II, sold a 147,520-square-foot office building at 6201 15th Avenue in Bensonhurst, and a vacant lot of 8,400 square feet at 6301 15th Avenue, for $29.5 million.

Shiya Labin was the buyer, acting through 6201 BSD LLC.

Construction of the four-story building was completed in 2002. The second floor was briefly used to manufacture clothing, according to Department of Buildings records, before it was converted to office space.

2. BlackRock sold a 43,173-square-foot multifamily building at 185 Claremont Avenue in Morningside Heights for $15.8 million to Prana Investments. The transaction occurred between 185 Claremont Avenue LLC and 185 – 187 Claremont Avenue LLC.

The six-story building, completed in 1941, contains 62 residential units.

3. Industry City partners Belvedere Capital, Jamestown and Angelo Gordon bought a Sunset Park warehouse at 533 2nd Avenue for $10 million at auction through the federal government’s General Services Administration. The one-story, 13,608-square-foot building, formerly known as Bush Terminal, sits on a 33,804-square-foot lot and was purchased through the limited partnership Motor Pool 870.

4. Eric Silverstein, son of the late Harry Silverstein, through the limited partnership Woodhull Associates sold an 81,091-square-foot multifamily building at 91-35 193rd Street in Hollis for $11 million to Efstathios Valiotis, founder of Alma Realty Corp., via Luckey Platt Equities LLC. The six-story building holds 62 units and was built in 1959.

Silverstein currently occupies the No. 3 spot on the public advocate’s landlord watchlist and was No. 1 in 2018; Valiotis was among the top 10 in 2016, but is not currently on the list, which is based on housing violations.

Contact Orion Jones at [email protected]


Related Articles

arrow_forward_ios
The pandemic is leading to huge losses in value for hotels, malls and other commercial properties (iStock)

Troubled commercial properties see values fall 27%: report

Troubled commercial properties see values fall 27%: report
Facebook CEO Mark Zuckerberg, a rendering of the Farley Post Office building redevelopment and Vornado's Steve Roth (Credit: Getty Images, VNO)

Facebook snagged $100M discount on Farley Post Office deal

Facebook snagged $100M discount on Farley Post Office deal
Blackstone's Frank Cohen and Amazon CEO Jeff Bezos with the HQ2 site (Getty; Blackstone; Google Maps)

Amazon grows HQ2 site near DC with hotel buy

Amazon grows HQ2 site near DC with hotel buy
Rendering of the Tokyo Tokiwabashi project (Courtesy of Mitsubishi)

Mitsubishi unveils design for Japan’s tallest skyscraper

Mitsubishi unveils design for Japan’s tallest skyscraper
Charles Rettig, Commissioner of the IRS (Getty)

Opportunity Zone rule change seeks to entice foreign investors

Opportunity Zone rule change seeks to entice foreign investors
The proposal to rezone Industry City in Brooklyn was unveiled five years ago, but collapsed under political pressure (Courtesy of Industry City)

Here’s how Industry City’s controversial rezoning unraveled

Here’s how Industry City’s controversial rezoning unraveled
731 Lexington Avenue and 410 East 61st Street (inset) with Vornado's Steve Roth (Googel Maps; VNO)

Home Depot eyes former Bed Bath & Beyond space on First Ave

Home Depot eyes former Bed Bath & Beyond space on First Ave
Ian Schrager and the Pulic Hotel at 215 Chrystie Street (Getty; Google)

$60M mezz loan on Ian Schrager’s Public Hotel is for sale

$60M mezz loan on Ian Schrager’s Public Hotel is for sale
arrow_forward_ios

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

Loading...