Historic Stone Street buildings, UWS apartments lead light week for i-sales

65-unit residential building at 700 West End Avenue fetches $28.5M

New York /
Sep.September 27, 2021 01:45 PM
Stone Street and 700 West End Avenue (Landmark West!, LoopNet)

Stone Street and 700 West End Avenue (Landmark West!, LoopNet)

Middle-market investment sales traded lightly last week, with just two deals closing in Manhattan for a total of $45 million. The prior week’s five sales fetched $95 million altogether.

1. The Lightstone Group bought a 65-unit residential building at 700 West End Avenue on the Upper West Side for $28.5 million. The 15-story building spans 56,000 square feet. Salamon Realty LLC was the seller.

2. Goldman Properties unloaded three mixed-use buildings spanning 22,800 square feet on Stone Street in the Financial District for $16.4 million. Ronan Downs, owner of the Stone Street Tavern at 52 Stone Street, partnered with neighboring businesses including The Dubliner and Beckett’s Bar and Grill to purchase the 8,000 square-foot, mixed-use building for $6.3 million, the Commercial Observer reported.

Davean Holdings bought the other two buildings, at 53-55 Stone Street, spanning 14,700 square feet for $10.1 million. The buildings house two ground-floor bars and seven apartments.

Dating to the 1830s, all three buildings are landmarked as part of the Stone Street Historic District. The buildings were purchased in the early 1990s by downtown developer Tony Goldman, who died in 2012. Goldman Properties, now run by Goldman’s children, first listed the buildings last November asking $20.75 million, Real Estate Weekly reported at the time. Douglas Elliman’s Marc Palermo and Louis Puopolo represented Goldman in the sales.

Farther down the block, Davean also owns a five-story mixed-use building at 6 Stone Street, which it purchased for $6.6 million in 2019.

No other commercial properties changed hands between $10 million and $30 million last week.





    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
    Avison Young’s Keith Caggiano and Roshan Shah with 650 Madison Avenue (Avison Young, Vornado Realty Trust, Getty)
    CRE brokers wrestle over $900K commission for 650 Madison
    CRE brokers wrestle over $900K commission for 650 Madison
    From left: Trinity Place Holdings’ Matthew Messinger and Macquarie Group’s Shemara Wikramanayake along with 77 Greenwich Street (Getty, Trinity Place Holdings, Macquarie Group, Google Maps)
    Trinity Place gets extension to finish pandemic-slowed 77 Greenwich
    Trinity Place gets extension to finish pandemic-slowed 77 Greenwich
    7 DeKalb Avenue with Avanath Capital Management CEO Daryl Carter and Daniel Brodsky (Brodsky, Avanath Capital, Getty)
    Brodsky selling DoBro apartments for $100M
    Brodsky selling DoBro apartments for $100M
    Ivanhoé’s Nathalie Palladitcheff, Cohabs’ Youri Dauber and James Grasso with Cohabs NYC co-living spaces (Cohabs, LinkedIn, Twitter/@ydauber, Ivanhoe Cambridge)
    Co-living firm Cohabs raises $450M to continue expansion
    Co-living firm Cohabs raises $450M to continue expansion
    DDG's Joseph McMillan and a rendering of 180 East 88th Street (March Made/DDG; Illustration by The Real Deal)
    DDG’s Upper East Side penthouse asks $33M, thanks to zoning loophole
    DDG’s Upper East Side penthouse asks $33M, thanks to zoning loophole
    263 West End Avenue (Google Maps)
    Construction worker dies at Upper West Side building
    Construction worker dies at Upper West Side building
    159 Broadway in Brooklyn and Madison Realty Capital’s Josh Zegen (Getty, Madison Realty Capital, Stonehill & Taylor Architects)
    Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
    Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
    arrow_forward_ios

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

    Loading...