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New York

Here’s what the $10M-$20M NYC investment sales market looked like last week

Lenox Hill development site sells for $12 million; Greenpoint warehouse trades for $10.5 million

321 East 60th Street and 83 Apollo Street
From left: 321 East 60th Street in Midtown East and 83 Apollo Street in Greenpoint

1.) Guido Subotovsky’s Azimuth Development Group closed on deal to buy a Leonx Hill development site for $12 million. The property is located at 321 East 60th Street, between First and Second avenues. Permits were filed in March for a new eight-story, 28-unit building after the seller, Midtown-based Minuit Partners, received a variance to change the use of the site to residential. Records show Subotovsky bought the property jointly with the Housing Partnership.

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2.) Ofer Joe Levy sold an industrial warehouse in Greenpoint for $10.5 million, just a few months after acquiring the plot for $4.5 million. In fact, it’s the third time that 83 Apollo Street has changed hands this year. A buyer using the entity “CRMX-211 LLC” made the most recent purchase. The single-story building is situated between Nassau and Norman avenues and has 47,000 buildable square feet.

(Source: ACRIS data for closed sales between July 20-26, and Reonomy data) 

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Investment Sales