Last week was a quiet one for mid-market investment sales in New York City despite what has otherwise been a busy month of dealmaking.
Four transactions involving commercial properties between $10 million and $40 million hit city records during the week.
Three were completed in Manhattan and one in Brooklyn. Below is each transaction, ranked by dollar amount.
1. Frank Wong’s Wong Brothers Realty sold a warehouse and development building at 6201 6th Avenue in Sunset Park for $21.4 million to an entity connected to developers Jiashu Xu and Ki Tai Yeung. Built in 1922, the warehouse spans three floors across almost 74,000 square feet. It last sold in 2004 for $6 million.
2. An entity connected to Francis Greenburger’s Time Equities sold a mixed-use building at 240 Sullivan Street in Greenwich Village for $17 million to an LLC with ties to Jonathan Ohebshalom’s Sky Management. Built in 1902, the 14,700-square-foot property has 26 units across seven floors. It last sold in 2003 for an undisclosed amount.
3. An LLC connected to Icon Realty Management sold an apartment building at 51 West 11th Street in Greenwich Village for $16.3 million to a Nantucket, Massachusetts–based entity called 51 West 11th Street LP. Attorney Guy Arad signed for the buyer. Built in 1852, the 8,600-square-foot property has 19 units across four floors. Icon purchased the property for $8.5 million in 2016.
4. An entity connected to investor Robert Yaffa sold an apartment building at 596 Edgecombe Avenue in Washington Heights for $10.1 million to an LLC with ties to Efrem Harkham’s Harkham Ventures. Built in 1928, the 46,500-square-foot property consists of 48 units across six floors. It last sold in 2008 for an undisclosed amount.
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