Industrial, multifamily, retail sales punctuated midsize deals last week

East Williamsburg and Hunts Point proved popular destinations for industrial buyers

New York /
Jun.June 22, 2021 08:30 AM
1301 Metropolitan Avenue and 151 East 90th Street (Google Maps)

1301 Metropolitan Avenue and 151 East 90th Street (Google Maps)

Mid-market investment sales last week were marked by industrial properties and large companies — Vornado Realty Trust and Innovo Property Group.

Two of the five sales in the $10 million to $30 million range were in Manhattan, continuing a trend of the borough having the most sales on the weekly list.

The five deals fetched a total of $70 million. Here are more details of sales recorded in the middle of the investment market during the third week of June.

1. J&R Acquisitions picked up a 70,000-square-foot industrial parcel with a 15,000-square-foot warehouse at 1301 Metropolitan Avenue in East Williamsburg for $18.2 million. The seller was Peabody Webster Holdings. Crain’s first reported the deal. J&R recently sold a nearly 400,000-square-foot warehouse in Maspeth to industrial giant Prologis for $42.7 million.

2. Anthony Ventura acquired a 38,500-square-foot multifamily building with 43 units at 151 East 90th Street in Carnegie Hill for $15 million via 151 E 90 LLC. The seller was Rosedale Management, making it the third midsized multifamily building the company has sold in as many weeks. The three sales totaled $50 million.

3. SJS Management sold a 37,000-square-foot retail building at 39-20 Bell Boulevard in Bayside for $14.3 million. The buyer was limited liability company Bell Success.

4. Limited liability company Double E Realty sold a 14,700-square-foot, mixed-use building at 45 West 55th Street in in Midtown for $12.25 million. The buyer was limited liability company Dreamaps Estate NY.

5. Innovo Property Group purchased a portion of an industrial development site at 155 Tiffany Street in Hunts Point for $10 million. The firm plans to expand an existing structure to create a 340,000-square-foot warehouse. The seller was Vornado Realty Trust.





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