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Pent-up demand? Midsize i-sales total $125M after week of zero

Four of eight sales between $10M and $30M were in Manhattan

From top to bottom: 101 Cooper Street in Inwood, 781 Washington Avenue in Crown Heights and 70-35 113th Street in Forest Hills (Google Maps)
From top to bottom: 101 Cooper Street in Inwood, 781 Washington Avenue in Crown Heights and 70-35 113th Street in Forest Hills (Google Maps)

Outliers happen.

One week after not a single midsize investment sale was recorded in New York City, eight such transactions were posted last week with a total dollar volume of $125 million.

Manhattan had four of the eight deals.

They included a bulk purchase of commercial condos in Hudson Yards, an apartment building sale in Inwood, and mixed-use buildings changing hands in the East Village and Noho.

Brooklyn and Queens each saw two i-sales in the $10 million to $30 million range. Here are more details on midsize deals recorded in the second week of June.

1. A trio of developers — SYU Properties, Top Rock Holdings and RJ Capital — acquired a 71,478-square-foot former hospital at 70-35 113th Street in Forest Hills for $8 million and an adjacent lot which faces the Grand Central Parkway and spans 32,382 square feet for $23.7 million. The buyer was limited liability company PWH GCP Building. The seller was Ilio Mavlyanov of Auberge Grand Central LLC.

2. Mendel Kaff acquired a 48,000-square-foot, 63-unit apartment building at 781 Washington Avenue in Crown Heights for $22 million via SJ Washington LLC. Douglas Rosenberg of NOHA Development signed for the seller, limited partnership Prospect Heights Associates.

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3. AIDS nonprofit GMHC purchased seven commercial condo units at 307 West 38th Street in Hudson Yards for $16.7 million. The seller was George Comfort & Sons.

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4. Rose Associates acquired a 79,000-square-foot building with 68 apartments at 101 Cooper Street in Inwood for $15.1 million. The seller was Rosedale Management.

5. Terrence Lowenberg’s Icon Realty Management sold a 10,000-square-foot, mixed-use building with 10 units at 205 Avenue A in the East Village for $14.3 million. The buyer was Japan-based Tsukaki Company, represented by ECA Capital Advisors.

6. Yoel Gruber acquired a 25,000-square-foot warehouse at 266 47th Street in Sunset Park for $12 million. The seller was a limited liability company registered to Chaim Sobel.

7. California-based Avalon Transportation sold a 24,000-square-foot warehouse at 25-45 Borden Avenue in Sunnyside for $11 million. Mohommad Malik signed for the buyer, Borden Media LLC.

8. Bobby Zar’s ZG Capital Partners acquired a 20,000-square-foot, mixed-use building at 654 Broadway Avenue in Noho for $10 million. The seller was Acadia Realty Trust.