Astoria cigar factory converted to offices highlighted NYC i-sales last week

Union Square office building, retail condo in Meatpacking and Bronx apartment complex also traded

New York /
May.May 26, 2022 02:00 PM
Bruce Brickman and 35-11 9th Street (Young Jewish Professionals, Google Maps)

Bruce Brickman and 35-11 9th Street (Young Jewish Professionals, Google Maps)

A 19th-century former cigar factory in Astoria and an office and retail building steps from Union Square were among seven investment properties that traded hands in New York City for between $10 million and $40 million last week.

Five of the deals hitting city records last week were in Manhattan, while one each were in Queens and the Bronx.

An entity tied to real estate investor Bruce Brickman’s firm sold the 100,000-square-foot former DeNobili cigar factory at 35-11 9th Street in Astoria and its 6,000-square-foot parking lot to Daryl Hagler for $26.4 million — nearly $5 million less than Brickman paid for it seven years ago.

After acquiring it for $31.1 million in 2015, Brickman spent a further $6.4 million renovating the four-story, 125-year-old building and converted it to offices, according to a press release from Avison Young, which brokered the sale. The building was 61 percent leased when the deal closed, the brokerage said.

An entity tied to Trans World Equities bought a four-story office building with retail space at 867 Broadway in Union Square for $22 million. The buyer was listed as I.C. Read LLC. The 11,600 square-foot property, which is also listed as 25 East 17th Street, last sold in 2007 for an unknown amount. Built in 1847, its ground-floor retail space is the longtime home of sporting goods store Paragon Sports.

A retail condo at 415 West 13th Street in the Meatpacking District traded for $21 million. Both buyer and seller were limited liability companies.

An entity connected to Sacchetti Realty sold a six-story prewar apartment complex at 2501 Tratman Avenue in Westchester Square, the Bronx, for $19.9 million. The buyer was listed as an LLC, but real estate investor Lavdrim Bauta signed a mortgage agreement on the property earlier this month, records show. The property was last sold in 2006 for an unknown amount.

Commercial real estate firm AAG Management sold three Hell’s Kitchen apartment buildings to investment firm Aetna Realty for $10 million each. The buildings are at 731 9th Avenue, 729 9th Avenue and 404 West 50th Street.





    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
    Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
    New NYC rent law “beginning to shut down investment”
    New NYC rent law “beginning to shut down investment”
    Numbers were down across the board (Credit: iStock)
    New York’s multifamily market had its slowest first half of the year since 2011
    New York’s multifamily market had its slowest first half of the year since 2011
    Saratoga County Homestead (Facebook, iStock, Illustration by Kevin Cifuentes for The Real Deal)
    Dilapidated New York tuberculosis hospital, vacant since 1973, hits the market
    Dilapidated New York tuberculosis hospital, vacant since 1973, hits the market
    From left: Alice Technologies founder and CEO René Morkos; Join CEO Andrew Zukoski (LinkedIn/René Morkos, LinkedIn/ Andrew Zukoski, iStock)
    Construction tech startups Alice, Join score new commitments
    Construction tech startups Alice, Join score new commitments
    Yelp's Jeremy Stoppelman, Remote Work
    Yelp shuttering NYC, Chicago offices after eyeing subleases for remote
    Yelp shuttering NYC, Chicago offices after eyeing subleases for remote
    A photo illustration of the Ram's Head Inn at 107 South Ram Island Drive in Shelter Island Heights (LoopNet, iStock)
    On the dock-et: Shelter Island inn owner sues town
    On the dock-et: Shelter Island inn owner sues town
    Carl Icahn and Rialto Capital’s Adam Singer (Getty Images. Rialto Capital, Illustration by Kevin Cifuentes for The Real Deal)
    Carl Icahn goes to war against Rialto, CMBS servicers
    Carl Icahn goes to war against Rialto, CMBS servicers
    arrow_forward_ios

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

    Loading...