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New York

Washington Heights apartments sell for $16M, leading quiet week for i-sales

Ridgewood warehouse, Hell’s Kitchen commercial condo also traded for over $10M

Montgomery Street Partners’ Luke Pak with 353 West 57th Street (Montgomery Street Partners, Google Maps, Getty)
Montgomery Street Partners’ Luke Pak with 353 West 57th Street (Montgomery Street Partners, Google Maps, Getty)

The city’s sluggish investment sales market all but paused last week, with just four deals for commercial properties valued between $10 million and $40 million.

The largest among them — a $15.5 million deal for Washington Heights apartments — would have ranked sixth in this roundup had it hit city records a week earlier.

Manhattan saw two of the four mid-market sales, while Brooklyn and Queens each had one. Below is more information on each deal, starting with the priciest:

1. Monsey-based landlord Basya Weiss bought a pair of apartment buildings at 82 and 84 Wadsworth Avenue in Washington Heights for $15.5 million. Shimon Kohn signed for the seller, a Great Neck-based LLC. The five-floor properties combine for 46 units across roughly 38,400 square feet and were last sold in 2017 for $11.6 million, records show.

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2. An entity tied to Williamsburg-based Loom Capital Group sold a newly built apartment complex at 1502-1504 46th Street in Borough Park for $15.1 million. Malky Feig signed for the buyer, Binyin 1502 LLC. The seven-story property, completed in 2021, includes 17 units across 25,000 square feet. The development site sold in 2020 for $3.8 million.

3. Long Island-based JHS Acquisition LLC sold a warehouse at 1614 Decatur Street in Ridgewood for $11.6 million to an entity affiliated with Brooklyn-based Odis Management. Built in 1965, the 17,000-square-foot property was last sold in 2014 for $2.8 million, according to records.

4. A real estate investment trust managed by Texas-based Montgomery Street Partners bought a commercial condo unit at 353 West 57th Street, also known as 356 West 58th Street, in Hell’s Kitchen for $10.2 million from Hudson 10th Floor LLC. CSC Coliving is redeveloping a shuttered 24-story hotel on the site, which it took over last year on a long-term ground lease from Montgomery Street.

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Borough ParkInvestment SalesMidtownRidgewoodWashington Heights