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Portland landlords push for rent control rollback akin to NY askPortland landlords push for rent control rollback akin to NY askHere’s how SL Green snagged a Chicago office towerHere’s how SL Green snagged a Chicago office towerRemote work will destroy 44% of NYC office valuesRemote work will destroy 44% of NYC office valuesRoblox subleases larger headquarters in San MateoRoblox subleases larger headquarters in San Mateo
New York

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

Gluck's Stellar lands an East Village retail site; Joyce Theatre buys a Chelsea venue

1.) The Orbach Group purchased an affordable housing building at 107-113 West 109th Street from Tahl Properties for $18 million. The 49-unit multifamily building sits between Broadway and Amsterdam Avenue in Morningside Park. Tahl Properties acquired the 31,000-square-foot building in 2007 for $7 million. In July, Orbach picked up a 54-unit multifamily building in the same neighborhood for $15.5 million.

2.) The Joyce Theatre Foundation acquired ownership of its Chelsea theatre for $16 million from Elliot Feld’s Ballet Tech Foundation and the Original Ballet Foundations. The dance theatre company has operated the 472-seat venue at 175 Eighth Avenue since 1982 and sold its Soho location in 2012 for $27 million, which helped fund the acquisition.

3.) Great Neck-based East Coast Management LLC purchased Sugar Hill Capital Partners’ multifamily building at 125 Seaman Avenue for $15.8 million. The six-story, 48-unit building is located between West 204th and 207th streets in Inwood. Sugar Hill paid $9.5 million for the 42,000-square-foot rental building last year.

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4.) Larry Gluck’s Stellar Management shelled out $12 million for a JPMorgan Chase bank at 130 Second Avenue in the East Village. The two-story, 7,000-square-foot retail building, on the corner of St. Mark’s Place, has an additional 2,000 buildable square feet, although no plans for a new development have been filed yet. Icon Realty and Stellar also own the adjacent 24-unit multifamily building at 128 Second Avenue.

5.) The Haimof Group, led by Kamyar Haimof, purchased a pair of Williamsburg rental buildings from Madison Realty Capital for $10.2 million. The contiguous buildings, located at 409-413 Broadway between Hooper and Hewes streets, have a combined 20 units, ground-floor retail and span 22,000 square feet. Madison paid $8.23 million for the buildings in 2013.

(Source: ACRIS data for closed sales between August 31- 6, and Reonomy data) 

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Investment Sales

TRENDING

Portland landlords push for rent control rollback akin to NY askPortland landlords push for rent control rollback akin to NY askHere’s how SL Green snagged a Chicago office towerHere’s how SL Green snagged a Chicago office towerRemote work will destroy 44% of NYC office valuesRemote work will destroy 44% of NYC office valuesRoblox subleases larger headquarters in San MateoRoblox subleases larger headquarters in San Mateo
New York

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

Gluck's Stellar lands an East Village retail site; Joyce Theatre buys a Chelsea venue

1.) The Orbach Group purchased an affordable housing building at 107-113 West 109th Street from Tahl Properties for $18 million. The 49-unit multifamily building sits between Broadway and Amsterdam Avenue in Morningside Park. Tahl Properties acquired the 31,000-square-foot building in 2007 for $7 million. In July, Orbach picked up a 54-unit multifamily building in the same neighborhood for $15.5 million.

2.) The Joyce Theatre Foundation acquired ownership of its Chelsea theatre for $16 million from Elliot Feld’s Ballet Tech Foundation and the Original Ballet Foundations. The dance theatre company has operated the 472-seat venue at 175 Eighth Avenue since 1982 and sold its Soho location in 2012 for $27 million, which helped fund the acquisition.

3.) Great Neck-based East Coast Management LLC purchased Sugar Hill Capital Partners’ multifamily building at 125 Seaman Avenue for $15.8 million. The six-story, 48-unit building is located between West 204th and 207th streets in Inwood. Sugar Hill paid $9.5 million for the 42,000-square-foot rental building last year.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

4.) Larry Gluck’s Stellar Management shelled out $12 million for a JPMorgan Chase bank at 130 Second Avenue in the East Village. The two-story, 7,000-square-foot retail building, on the corner of St. Mark’s Place, has an additional 2,000 buildable square feet, although no plans for a new development have been filed yet. Icon Realty and Stellar also own the adjacent 24-unit multifamily building at 128 Second Avenue.

5.) The Haimof Group, led by Kamyar Haimof, purchased a pair of Williamsburg rental buildings from Madison Realty Capital for $10.2 million. The contiguous buildings, located at 409-413 Broadway between Hooper and Hewes streets, have a combined 20 units, ground-floor retail and span 22,000 square feet. Madison paid $8.23 million for the buildings in 2013.

(Source: ACRIS data for closed sales between August 31- 6, and Reonomy data) 

Tags
Investment Sales