Industrial, multifamily, retail sales punctuated midsize deals last week

East Williamsburg and Hunts Point proved popular destinations for industrial buyers

1301 Metropolitan Avenue and 151 East 90th Street (Google Maps)
1301 Metropolitan Avenue and 151 East 90th Street (Google Maps)

Mid-market investment sales last week were marked by industrial properties and large companies — Vornado Realty Trust and Innovo Property Group.

Two of the five sales in the $10 million to $30 million range were in Manhattan, continuing a trend of the borough having the most sales on the weekly list.

The five deals fetched a total of $70 million. Here are more details of sales recorded in the middle of the investment market during the third week of June.

1. J&R Acquisitions picked up a 70,000-square-foot industrial parcel with a 15,000-square-foot warehouse at 1301 Metropolitan Avenue in East Williamsburg for $18.2 million. The seller was Peabody Webster Holdings. Crain’s first reported the deal. J&R recently sold a nearly 400,000-square-foot warehouse in Maspeth to industrial giant Prologis for $42.7 million.

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2. Anthony Ventura acquired a 38,500-square-foot multifamily building with 43 units at 151 East 90th Street in Carnegie Hill for $15 million via 151 E 90 LLC. The seller was Rosedale Management, making it the third midsized multifamily building the company has sold in as many weeks. The three sales totaled $50 million.

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3. SJS Management sold a 37,000-square-foot retail building at 39-20 Bell Boulevard in Bayside for $14.3 million. The buyer was limited liability company Bell Success.

4. Limited liability company Double E Realty sold a 14,700-square-foot, mixed-use building at 45 West 55th Street in in Midtown for $12.25 million. The buyer was limited liability company Dreamaps Estate NY.

5. Innovo Property Group purchased a portion of an industrial development site at 155 Tiffany Street in Hunts Point for $10 million. The firm plans to expand an existing structure to create a 340,000-square-foot warehouse. The seller was Vornado Realty Trust.

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