Mid-market i-sales top $100M for third straight week

Commercial sales start strong in 2021

New York /
Jan.January 26, 2021 09:18 AM
1529 62nd St, Brooklyn, NY (Google Maps)

1529 62nd Street, Brooklyn (Google Maps)

 

It was another banner week for New York City’s mid-range investment sales: Seven deals between $10 million and $30 million combined for a total volume of $115 million.

While that’s below last week’s total of $154 million, it’s still a strong showing for the third week of 2021.

Manhattan had three deals, including a Tribeca retail space that sold for $3,900 per square foot. Two properties changed hands in Brooklyn, while Queens and the Bronx each notched one sale.

Here are more details for the week ending Jan. 22.

1. Bremen House sold two mixed-use buildings on the Upper East Side: a 38,500-square-foot property at 220 East 86th Street and a 36,000-square-foot one at 1653 First Avenue. The buildings sold for $14 million and $14.5 million, respectively. The buyers were anonymous limited partnerships. Gonca Hartmann Tekiner signed for the seller.

2. A limited liability company, 63 Medical Properties, spent $32 million on a 4,900-square-foot industrial building at 1529 62nd Street in Bensonhurst. The seller was limited liability company MMark2018, which purchased the parcel in December 2020 for $13.2 million from LLCs affiliated with Jack Guttman and Jack Basch. In December, Abraham Woldiger filed an application for a five-story, 45,833-square-foot commercial building at the site.

3. Cape Advisors sold a 3,086-square-foot, ground-floor retail space at 102 Chambers Street in Tribeca for $12 million, or nearly $3,900 per square foot. Gregory Kraut signed as the buyer for a limited liability company.

4. Jerry Wang of Jia Wing Realty bought a 28,320-square-foot warehouse at 29-05 28th Avenue in Flushing for $11.3 million. The seller was coffee supply company Vassilaros & Sons.

5. The Republic of Austria purchased a 13,462-square-foot commercial condo at 633 Third Avenue in Murray Hill for $10.7 million. The seller was the Partnership to End Addiction.

6. Affordable housing nonprofit HP Webster Gardens Housing Development Fund purchased a 83,806-square-foot, mixed-use building at 1971 Webster Avenue in Mount Hope for $10.8 million. The building contains 69 residential units. The seller was the MacQuesten Companies.

7. Marvell Scott purchased a 21,370-square-foot medical facility at 1408 Ocean Avenue in Midwood for $10 million through 1408 Partners LLC. The seller was Gennady Kiselman, also through an LLC.





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