Tile maker’s deal in NoMad leads mid-market sales

Manufacturer scoops up retail condo under luxury apartments; six other transactions

New York /
Mar.March 17, 2022 08:00 AM
Clockwise from top left: 277 Fifth Avenue, 60 North 6th Street in Brooklyn, 127 Kent Avenue in Brooklyn and 515 West 38th Street (The LX Collection, L3 Capital, Google Maps)

Clockwise from top left: 277 Fifth Avenue, 60 North 6th Street in Brooklyn, 127 Kent Avenue in Brooklyn and 515 West 38th Street (The LX Collection, L3 Capital, Google Maps)

With no single deal above $30 million, the middle of the investment sales market saw a modest $128.2 million in real estate change hands last week.

Porcelain tile maker Florim met its customers more than half-way last week, buying a commercial condo unit in a luxury apartment building in NoMad,  while ASB Real Estate Investments sold two properties in Williamsburg for a combined $45 million.

Also, a site where an 84-unit apartment building is planned sold in Gowanus for $21.6 million.

Manhattan had four of the mid-market sales and Brooklyn the other three. Below are more details for deals recorded in the second week of March.

ASB sold a 10,000-square-foot retail and office building at 60 North 6th Street in Williamsburg for $25 million to Kentucky-based Thornton Capital, and a 5,000-square-foot building at nearby 127 Kent Avenue for $20 million to L3 Capital. L3 carries listings for both buildings; Brooklinen occupies part of the Kent Avenue building.

In a square deal, tile manufacturer Florim USA bought the 8,645-square-foot commercial unit at 277 Fifth Avenue, a luxury residential building in NoMad, for $23 million. Victor Group was the seller.

Yossef Ariel’s Sterling Town Equities bought a 9,175-square-foot parcel at 125 3rd Street in Gowanus for $21.6 million. Property Markets Group sold the Brooklyb site, where Orange Management plans an 89,200-square-foot residential building with 84 units.

Eric Birnbaum’s Dreamscape Companies sold two commercial condo units with a combined 16,825 square feet at Henry Hall, at 515 West 38th Street in Hudson Yards, for $17 million. The Manhattan Neighborhood Network was the buyer.

Covenant of the Sacred Heart bought a 4,860-square-foot multifamily building at 6 East 92nd Street for $11.4 million. The Flessas family sold the property.

Witnick Real Estate Partners bought a 11,864-square-foot apartment building at 206 West 21st Street in Chelsea for $10.2 million. Rhumbline Realty Management was the seller.





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