New York City dealmakers may have gotten an early start to their holiday vacations.
Or maybe something is happening with interest rates.
Whatever the case, only two transactions involving mid-market commercial properties valued between $10 million and $40 million hit city records last week. Manhattan and the Bronx each had one midsize sale last week.
Below is more information on each deal, ranked by dollar figure amount.
1. An entity connected to Turnbridge Equities bought a trio of warehouses at 1173-1175 Leggett Avenue and Grinnell Place in Hunts Point for $15.3 million from an entity tied to heating contractor Easco Boiler Corporation.
The three single-floor industrial buildings total 26,000 square feet and were last sold in 1974 for an undisclosed amount. The warehouses are just minutes away from Turnbridge’s five-property, 14.2-acre Bronx Logistics Center at 920-980 East 149th Street in Hunts Point.
Easco, founded in 1926, is the nation’s oldest minority-owned and operated steel boiler and tank manufacturer. Its president, Leon Eastmond, died in August at 95. He was among the city’s most enduring family business operators, having started at the company alongside his father at age 12 and continuing to work into his 90s.
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2. An entity tied to California-based Asset Preservation Inc. bought a trio of mixed-use buildings at 1256-1260 Lexington Avenue on the Upper East Side for $13.1 million from a trio of entities connected to White Plains-based Sierra Assets.
Built in 1910, the four-floor properties consist of 14 units across 14,600 square feet. The three buildings were last sold in 2007 for $8.8 million.