New York

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

Middle Village retail strip and a full-floor office condo at Delmonico Plaza trade hands

From left: 414-416 East 78th Street on the Upper East Side, Jamestown's Matt Bronfman and <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/189-Schermerhorn-Street-Brooklyn-NY-11201/3001647502-0" target="_blank" data-address="189%20Schermerhorn%20Street%2C%20Brooklyn" data-label="189%20Schermerhorn%20Street" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F189-Schermerhorn-Street-Brooklyn-NY-11201%2F3001647502-0" data-bbl="3001647502" data-blockValue="00164" data-lotValue="7502" data-zipcode="11201" data-bldgArea="231%2C508" data-bldgDepth="171.5" data-bldgFront="125" data-landUse="Mixed%20resi%20%26%20comm%20buildings" data-lotArea="21%2C438" data-lotFront="125" data-lotDepth="171.5" data-retailArea="14%2C685" data-resArea="185%2C093" data-officeArea="0" data-garageArea="31%2C730" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="R0" data-primaryZoning="C6-4" data-commercialOverlay="" data-far="10" data-buildable="214%2C380" data-airRights="-17%2C150" data-propertyNeighborhood="Downtown%20Brooklyn" data-latitude="40.6895299577345" data-longitude="-73.9864652710657" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F189-Schermerhorn-Street-Brooklyn-NY-11201%5C%2F3001647502-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F189-Schermerhorn-Street-Brooklyn-NY-11201%5C%2F3001647502-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">189 Schermerhorn Street</a> in Brooklyn

From left: 414-416 East 78th Street on the Upper East Side, Jamestown's Matt Bronfman and 189 Schermerhorn Street in Brooklyn

1.) Queens landlord Fazlur Khan purchased a commercial strip at 62-06 Woodhaven Boulevard in Middle Village for $19 million, or $987 per square foot. The single-story building spans 19,285 square feet and is home to 15 retail tenants who brought in more than $1 million in gross revenue last year to the prior owner, Denis Rodger’s United Properties Corp. Khan owns nearly a dozen other commercial and residential properties throughout Astoria, Elmhurst and Long Island City.

2.) Samson Klugman’s Quality Capital paid $12.5 million for a trio of retail units at the base of Jamestown Properties’ Downtown Brooklyn condominium building. The units encompass 14,683 square feet of commercial space at 189 Schermerhorn Street, a 249-unit mixed-use building built in 2007. Brooklyn Friends School and the nonprofit Junior Achievement collectively lease about 10,250 square feet of the commercial space.

3.) In Midtown, a three-unit commercial building at 14 East 44th Street traded hands for $11.9 million, or $1,030 per square foot. Amir Yomtobian acquired the five-story building from Byung Il Park, who paid $7.2 million for the property in 2012. Retail tenant Bread & Butter occupies the ground floor while the remainder of the building is used for office space.

4.) A full-floor condominium unit at Delmonico Plaza, a 24-story office building on the Upper East Side, sold for $11.6 million. The 12th-floor office at 55 East 59th Street is one of four units the seller, an entity listed as MIP 55 East 59th Street LLC, acquired for $18.1 million five years ago. Raya Kofman is listed as the buyer.

5.) On the Upper East Side, investor Gregory Georgiou picked up a pair of rental buildings at 414-416 East 78th Street for $11.2 million. The contiguous four-story buildings span a combined 13,000 square feet and hold 32 apartments, half of which are rent-stabilized. Bela Bako acquired the two buildings for $8 million in 2012.

(Source: ACRIS data for closed sales between Oct. 3-9, and Reonomy data)

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New York

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

Middle Village retail strip and a full-floor office condo at Delmonico Plaza trade hands

From left: 414-416 East 78th Street on the Upper East Side, Jamestown's Matt Bronfman and <a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/189-Schermerhorn-Street-Brooklyn-NY-11201/3001647502-0" target="_blank" data-address="189%20Schermerhorn%20Street%2C%20Brooklyn" data-label="189%20Schermerhorn%20Street" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F189-Schermerhorn-Street-Brooklyn-NY-11201%2F3001647502-0" data-bbl="3001647502" data-blockValue="00164" data-lotValue="7502" data-zipcode="11201" data-bldgArea="231%2C508" data-bldgDepth="171.5" data-bldgFront="125" data-landUse="Mixed%20resi%20%26%20comm%20buildings" data-lotArea="21%2C438" data-lotFront="125" data-lotDepth="171.5" data-retailArea="14%2C685" data-resArea="185%2C093" data-officeArea="0" data-garageArea="31%2C730" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="R0" data-primaryZoning="C6-4" data-commercialOverlay="" data-far="10" data-buildable="214%2C380" data-airRights="-17%2C150" data-propertyNeighborhood="Downtown%20Brooklyn" data-latitude="40.6895299577345" data-longitude="-73.9864652710657" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F189-Schermerhorn-Street-Brooklyn-NY-11201%5C%2F3001647502-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F189-Schermerhorn-Street-Brooklyn-NY-11201%5C%2F3001647502-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">189 Schermerhorn Street</a> in Brooklyn

From left: 414-416 East 78th Street on the Upper East Side, Jamestown's Matt Bronfman and 189 Schermerhorn Street in Brooklyn

1.) Queens landlord Fazlur Khan purchased a commercial strip at 62-06 Woodhaven Boulevard in Middle Village for $19 million, or $987 per square foot. The single-story building spans 19,285 square feet and is home to 15 retail tenants who brought in more than $1 million in gross revenue last year to the prior owner, Denis Rodger’s United Properties Corp. Khan owns nearly a dozen other commercial and residential properties throughout Astoria, Elmhurst and Long Island City.

2.) Samson Klugman’s Quality Capital paid $12.5 million for a trio of retail units at the base of Jamestown Properties’ Downtown Brooklyn condominium building. The units encompass 14,683 square feet of commercial space at 189 Schermerhorn Street, a 249-unit mixed-use building built in 2007. Brooklyn Friends School and the nonprofit Junior Achievement collectively lease about 10,250 square feet of the commercial space.

3.) In Midtown, a three-unit commercial building at 14 East 44th Street traded hands for $11.9 million, or $1,030 per square foot. Amir Yomtobian acquired the five-story building from Byung Il Park, who paid $7.2 million for the property in 2012. Retail tenant Bread & Butter occupies the ground floor while the remainder of the building is used for office space.

4.) A full-floor condominium unit at Delmonico Plaza, a 24-story office building on the Upper East Side, sold for $11.6 million. The 12th-floor office at 55 East 59th Street is one of four units the seller, an entity listed as MIP 55 East 59th Street LLC, acquired for $18.1 million five years ago. Raya Kofman is listed as the buyer.

5.) On the Upper East Side, investor Gregory Georgiou picked up a pair of rental buildings at 414-416 East 78th Street for $11.2 million. The contiguous four-story buildings span a combined 13,000 square feet and hold 32 apartments, half of which are rent-stabilized. Bela Bako acquired the two buildings for $8 million in 2012.

(Source: ACRIS data for closed sales between Oct. 3-9, and Reonomy data)

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