Chelsea and Bronx purchases power mid-market i-sales
Charter school shells out $21 million for Highbridge parcels
New York City investment sales between $10 million and $30 million matched the previous week’s count with four, including two in Manhattan and one each in the Bronx and Queens.
Among the buyers during the week of July 20 were commercial condo developers, a charter school and a law firm.
1. Developer Anbau purchased adjacent properties in Chelsea at 428 and 432 West 19th Street with a combined lot area of 6,900 square feet, paying $18.5 million in an off-market transaction. Anbau plans to raze the four-story buildings on the sites and build commercial condos. Andrew Natter & Harold Fuchs of Collaborative Group brokered the deal. Ernest Schoenherr was the seller.
2. KIPP NYC, a charter school organization, paid a combined $21.5 million for two adjacent Highbridge properties — 1504 and 1518 Macombs Road — netting 24,856 square feet of development space in two separate transactions. Acting through Macombs 1504 LLC, KIPP paid Aranit Ahmetaj, via 1508 Bronx Corp and Macomb Parking, $10.75 million for each property. The lots are listed as a warehouse and garage, respectively.
3. Law firm Westerman Ball Ederer Miller Zucker & Sharfstein LLP, via West 39th Associates LLC, purchased a 6,211-square-foot mixed-use building at 45 West 39th Street for $17.9 million from owners Julie and Kenneth Lee. Eric Hadar’s Allied Property, which owns several adjacent buildings near Bryant Park, has contacted the firm about managing the Midtown building.
4. A private trust acting through Broadway Tenth/Flagstaff LCC purchased 61-15 Metropolitan Avenue in Ridgewood and an adjacent property on Fresh Pond Road for $17 million. The one-story commercial building on the Metropolitan Avenue site has 13,482 square feet; the two combined lots have a buildable area of 62,945 square feet. The principal sellers were listed as Gabriela and Zamir Korn via GZ Acquisitions and three additional LLCs.