Alex Adjmi’s A&H Acquisitions buys Crown Heights industrial complex

Among 8 mid-market deals in city totaling $127M last week

New York /
May.May 04, 2021 08:00 AM
1240 Morrison Avenue in Soundview, 1769 86th Street in Bensonhurst and 73-99 Empire Boulevard in Crown Heights (Google Maps)

1240 Morrison Avenue in Soundview, 1769 86th Street in Bensonhurst and 73-99 Empire Boulevard in Crown Heights (Google Maps)

Alex Adjmi’s A&H Acquisitions bought a Crown Heights warehouse, one of eight mid-market investment sales in the city last week.

Adjmi — who received a presidential pardon on Donald Trump’s last day in office in January — paid $15 million for the complex.

Overall, the eight deals in the city totaled $127 million, and included three industrial complexes and two multifamily buildings. The total was far higher than the previous week’s $90 million for four properties. Mid-market deals cover investment sales between $10 million and $30 million.

In the latest tally, Brooklyn and Queens each notched three sales, while Manhattan and the Bronx had one each.

Here are more details of last week’s deals, ending April 30.

1. A joint venture affiliated with Yechiel Newhouse paid $24.4 million for a 154-unit, 147,000-square-foot apartment building at 1240 Morrison Avenue in the Soundview section of the Bronx. Stellar Management was the seller.

2. American Self Storage sold a 116,000-square-foot warehouse at 47-20 Dutch Kills Street in Sunnyside, Queens, for $18.1 million. The buyer was a joint venture between Clayton Gentry’s 21st Century Storage and St. Louis-based investor Alitus Partners.

3. A New York limited liability company purchased a 33,600-square-foot retail building at 1769 86th Street in Bensonhurst, Brooklyn, for $18 million. Tim Ziss of Allied Properties put the building into bankruptcy in October 2020 after purchasing it for $10.7 million in 2017 from Santander Bank.

4. Adam Semler picked up two mixed-use buildings spanning a combined 22,800 square feet in Nolita for $17.7 million. The buildings are at 240 Mulberry Street and 196 Elizabeth Street. The seller was David Moore, according to the Department of Housing Preservation and Development.

5. Alex Adjmi’s A&H Acquisitions Corp. paid $15.2 million for a 30,600-square-foot Crown Heights industrial building at 73-97 and 73-99 Empire Boulevard, and McKeever Place. The seller was a family trust.

6. The Loketch Group bought a 36-unit, 16,300-square-foot apartment building at 1010 Bedford Avenue in Bedford-Stuyvesant for $14.2M. Pincho Loketch signed for the buyer. The seller was Jacob Sofer, who purchased the property in 2020 from All Year Management. The address is also known as 261 Skillman Street.

7. A limited liability company affiliated with Quality Building Services purchased an 18,700-square-foot industrial building at 21-21 44 Road in Hunter’s Point in Long Island City, for $10 million. Roberta Chaplin, Suzanne Alenick, Michelle Shore and Con-Dea Realty LLC were the sellers.

8. Gadi Ben Hamo purchased two parcels spanning a combined 35,300 square feet at 144-02 and 144-20 Hillside Avenue in Jamaica, Queens, for $10 million. The seller was a family trust.





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