Middle-market investment sales traded lightly last week, with just two deals closing in Manhattan for a total of $45 million. The prior week’s five sales fetched $95 million altogether.
1. The Lightstone Group bought a 65-unit residential building at 700 West End Avenue on the Upper West Side for $28.5 million. The 15-story building spans 56,000 square feet. Salamon Realty LLC was the seller.
2. Goldman Properties unloaded three mixed-use buildings spanning 22,800 square feet on Stone Street in the Financial District for $16.4 million. Ronan Downs, owner of the Stone Street Tavern at 52 Stone Street, partnered with neighboring businesses including The Dubliner and Beckett’s Bar and Grill to purchase the 8,000 square-foot, mixed-use building for $6.3 million, the Commercial Observer reported.
Davean Holdings bought the other two buildings, at 53-55 Stone Street, spanning 14,700 square feet for $10.1 million. The buildings house two ground-floor bars and seven apartments.
Dating to the 1830s, all three buildings are landmarked as part of the Stone Street Historic District. The buildings were purchased in the early 1990s by downtown developer Tony Goldman, who died in 2012. Goldman Properties, now run by Goldman’s children, first listed the buildings last November asking $20.75 million, Real Estate Weekly reported at the time. Douglas Elliman’s Marc Palermo and Louis Puopolo represented Goldman in the sales.
Farther down the block, Davean also owns a five-story mixed-use building at 6 Stone Street, which it purchased for $6.6 million in 2019.
No other commercial properties changed hands between $10 million and $30 million last week.
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