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

6 deals in Manhattan, Brooklyn and the Bronx combined for nearly $100M

New York /
Dec.December 23, 2020 08:00 AM
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)

Clockwise from left: Brookfield Property Partners CEO Brian Kingston, 845 East 136th Street in the Bronx, 1010 Bedford Avenue and 120 Evergreen Avenue in Brooklyn (Google Maps; Brookfield)

The uptick in middle-market investment sales activity in the city continued last week. Six deals involving industrial and residential buildings tallied $98.9 million. It was the third week in a row that more than $97 million in transactions were recorded across the five boroughs. The deals are all between $10 million and $30 million each.

On the list last week was Brookfield Property Partners, which bought in the Bronx. Facing financial woes, All Year Management sold in Brooklyn. Brookland Capital, which has been liquidating its assets, also sold a property in the borough.

There were three deals in Manhattan involving residential, office and commercial spaces in Greenwich Village, Kips Bay and Chelsea, respectively.

Here are more details for the week ending Dec. 18.

1. Brookfield purchased an 88,000-square-foot warehouse at 845 East 136th Street in Morrisania, for $27.9 million. Ryan Nelson signed as the seller for Washington D.C.-based Midatlantic Realty Partners.

2. Two LLCs affiliated with All Year sold a 72,613-square-foot multifamily building with 36 units at 1010 Bedford Avenue (also known as 261 Skillman Street) in Bedford-Stuyvesant, and a 6,690-square-foot industrial building at 120 Evergreen Avenue in Bushwick, for $15.9 million. Jacob Sofer signed as the buyer through 10 Independence Center LLC. All Year’s Yoel Goldman signed as the seller.

3. The Simon Family sold a 12,590-square-foot mixed-use building with 20 residential units at 169 Sullivan Street (also known as 128 West Houston Street) in Greenwich Village for $11 million. The buyer was Fred Schoenfeld. Marcus & Millichap’s Joe Koicim, Peter Von Der Ahe and Peter Dodge brokered the deal.

4. Brookland Capital sold a 50,929-square-foot multifamily building with 41 units at 691 Marcy Avenue in Bedford-Stuyvesant, for $22.5 million. Upland Property Advisors represented bondholders in the sale. Limited liability company 691 Marcy Development bought the eight-story building.

5. A limited liability company affiliated with medical practice Manhattan Specialty Care purchased a 14,814-square-foot office building at 147 East 26 Street in Kips Bay for $10.6 million. SBF Corp., affiliated with the industrial and toy workers union Local 223, was the seller.

6. A limited partnership affiliated with Ary Freilich sold 11,300 square feet of commercial space at 249 8th Avenue in Chelsea for $11 million. Elizabeth Freilich signed as the seller for BFE Management Corp. An LLC affiliated with Schuckman Realty was the buyer.





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