Manhattan, Elmhurst notch $83M in mid-market sales

4 i-sales between $10M and $30M inked last week

New York /
Apr.April 05, 2021 04:10 PM
323 East 79th Street with Spruce Capital's Robert Schwartz and Boomerang’s Marco Auteri (Google Maps, Elliman)

323 East 79th Street with Spruce Capital’s Robert Schwartz and Boomerang’s Marco Auteri (Google Maps, Elliman)

One trashed condo project is another developer’s treasure: Last week, an Upper East Side parcel that was previously earmarked for condos changed hands, with the new owner planning his own residential project on the site.

It was one of four mid-market investment sales last week, defined by The Real Deal as transactions that closed for between $10 million and $30 million. Of the four deals, two were in Manhattan, and two were in Elmhurst, Queens. The total sales volume was $83.2 million, surpassing the previous week’s $51.2 million. The Upper East Side deal was the smallest recorded, at $13.7 million.

Here are more details for the week ending April 2:

1. Boston-based Davis Companies bought a 32,000-square-foot industrial building and a 5,700-square-foot retail building at 155 and 165 West 29th Street in Midtown for $36.5 million. Jonathan G. Davis signed for the buyer. The seller was Abraham Moshel’s Amush Enterprises.

2. A trustee of J.C. Penney’s bankruptcy, GLAS Trust Company LLC, purchased the retailer’s 200,000-square-foot department store at 92-59 59th Avenue in Elmhurst for $18.1 million. Alan Carr signed for the seller.

3. Self-storage facility operator Safe N Lock picked up a 29,600-square-foot warehouse at 52-34 74th Street in Elmhurst for $14.9 million. The seller was Traditional Casket Corp.

4. Spruce Capital Partners sold an Upper East Side parcel at 323 East 79th Street to Boomerang Development Group for $13.7 million. Boomerang’s Marco Auteri says his company will construct a condo building on the site.

Spruce purchased the lot in 2017 for $12.75 million. It had planned to build a 35,000-square-foot, 17-story residential building, with plans submitted to the city in 2019.





    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
    Redeemer’s Timothy Keller and 150 East 91st Street (Getty, Google Maps, Redeemer)
    Redeemer Presbyterian’s UES development plans vex co-op residents
    Redeemer Presbyterian’s UES development plans vex co-op residents
    Ian Bruce Eichner, 45 East 22nd Street
    Eichner’s Madison Square Park saga enters final act
    Eichner’s Madison Square Park saga enters final act
    From left: Stonehenge NYC's Ofer Yardeni and UBS' Ralph Hamers along with 408 East 92nd Street (Getty, Stonehenge NYC, UBS, Google Maps)
    Yardeni’s Stonehenge pays $115M for Upper East Side rental
    Yardeni’s Stonehenge pays $115M for Upper East Side rental
    Rendering of 640 Columbia Street in Red Hook, 9-11 Metrotech Center and TerraCRG's Ofer Cohen
    Brooklyn boasted $9B in investment sales last year
    Brooklyn boasted $9B in investment sales last year
    Oxford Hospitality's Paul Amoruso and 1 Computer Associates Plaza in Islandia (Getty, Jones Lang LaSalle IP, Inc., Oxford Hospitality)
    Owners of vacated CA Technologies’ campus paid pennies on the dollar
    Owners of vacated CA Technologies’ campus paid pennies on the dollar
    15 West 45th Street, CapitaLand’s Eaton Zhou
    Midtown hotel trades for $38M in another slow week for midsize i-sales
    Midtown hotel trades for $38M in another slow week for midsize i-sales
    (Photo-illustration by Kevin Rebong/The Real Deal)
    Sizing up LA’s new transfer tax
    Sizing up LA’s new transfer tax
    arrow_forward_ios

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

    Loading...