Multifamily properties continue to drive most activity in the city’s slowing investment sales market, but a high-profile retail asset led mid-sized commercial deals recorded in city records last week.
An entity tied to Aby Rosen’s RFR Holding bought the four-story retail building at 102 Greene Street in Soho for $31.5 million from investment firm TA Realty. French jeweler Cartier leased 9,300 square feet at the property earlier this year. The property was reportedly valued at $43.5 million as recently as 2017, when SL Green sold its 90 percent stake in the building.
Five other transactions involving commercial properties valued between $10 million and $40 million hit city records last week, three of which involved apartment buildings. Three of the deals were in Manhattan, while Brooklyn, Queens and the Bronx each saw one. Below is more information on each transaction, ranked by dollar amount:
On the Upper West Side, entities tied to Aetna Realty Company bought a 54-unit apartment building at 370 Columbus Avenue for $26.4 million from an entity connected to Pantzer Properties. Pantzer acquired the five-story property in 2013 for $35.8 million. Neither Pantzer nor Aetna responded when reached for comment about why the 31,000-square-foot building sold for $9.4 million less, though city records show a portion of the units are rent stabilized.
Across Central Park, an entity tied to Peter Kreimler, CEO of the Swiss fashion house Akris, bought a five-story mixed-use building at 833 Madison Avenue for $17.5 million from an entity tied to Perry Haberman, who operated the former Madison Avenue Bookshop out of the ground-floor retail space until 2002. The 9,300-square-foot property was asking $22 million, according to the listing with Cushman & Wakefield. Upstairs are six residential units, as well as gallery and office space. The property is adjacent to Akris’ store at 835 Madison Avenue.
In East New York, Georgia Realty LLC bought a one-story industrial building at 73 Wortman Avenue for $15.5 million from an entity tied to direct marketing agency DCD Marketing. Agostino Vona signed for the buyer. Built in 1961, the 42,700-square-foot property last sold in 2007 for $4.5 million.
An entity connected to HK Organization sold a pair of apartment buildings at 725 and 737 Fox Street in Woodstock, the Bronx, for $12.2 million to Fox Street Apartments LP. Victor Sismanoglouyates signed for the buyer. The pair of seven-story, century-old buildings combine for 108 units across 104,400 square feet and were last sold in 2001 for an unknown amount.
In Queens, an entity tied to the grocery store chain Met Foods Supermarket bought a retail property and adjacent 9,600-square-foot parking lot at 79-15 Eliot Avenue in Middle Village for $12 million from Permax Realty Co. Sandra Schneider Lehman signed for the seller. Built in 1950, the property was last sold in 1990.
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