Astoria cigar factory converted to offices highlighted NYC i-sales last week
Union Square office building, retail condo in Meatpacking and Bronx apartment complex also traded
A 19th-century former cigar factory in Astoria and an office and retail building steps from Union Square were among seven investment properties that traded hands in New York City for between $10 million and $40 million last week.
Five of the deals hitting city records last week were in Manhattan, while one each were in Queens and the Bronx.
An entity tied to real estate investor Bruce Brickman’s firm sold the 100,000-square-foot former DeNobili cigar factory at 35-11 9th Street in Astoria and its 6,000-square-foot parking lot to Daryl Hagler for $26.4 million — nearly $5 million less than Brickman paid for it seven years ago.
After acquiring it for $31.1 million in 2015, Brickman spent a further $6.4 million renovating the four-story, 125-year-old building and converted it to offices, according to a press release from Avison Young, which brokered the sale. The building was 61 percent leased when the deal closed, the brokerage said.
An entity tied to Trans World Equities bought a four-story office building with retail space at 867 Broadway in Union Square for $22 million. The buyer was listed as I.C. Read LLC. The 11,600 square-foot property, which is also listed as 25 East 17th Street, last sold in 2007 for an unknown amount. Built in 1847, its ground-floor retail space is the longtime home of sporting goods store Paragon Sports.
A retail condo at 415 West 13th Street in the Meatpacking District traded for $21 million. Both buyer and seller were limited liability companies.
An entity connected to Sacchetti Realty sold a six-story prewar apartment complex at 2501 Tratman Avenue in Westchester Square, the Bronx, for $19.9 million. The buyer was listed as an LLC, but real estate investor Lavdrim Bauta signed a mortgage agreement on the property earlier this month, records show. The property was last sold in 2006 for an unknown amount.
Commercial real estate firm AAG Management sold three Hell’s Kitchen apartment buildings to investment firm Aetna Realty for $10 million each. The buildings are at 731 9th Avenue, 729 9th Avenue and 404 West 50th Street.