New York City dealmakers kept busy ahead of the holidays.
Six transactions involving mid-market commercial properties valued between $10 million and $40 million hit city records last week. Three deals were in Manhattan, two were in Brooklyn and one was in Queens. Below is more information on each sale, ranked by dollar figure amount.
1. An entity connected to the Chetrit Group sold a pair of retail properties at 1100 Kings Highway and 2067 Coney Island Avenue in Gravesend for $34 million to an entity tied to Odiljon Tursunov. Tursunov is the owner of a Uzbeki grocery store chain Tashkent Supermarket, Commercial Observer reported.
The adjacent, single-story retail buildings span almost 30,000 square feet. The Chetrits purchased an $18 million defaulted loan on the Brooklyn property last year from Signature Bank, Crain’s reported. The family planned to turn the property into a development site and filed permits last month to demolish the building’s walls.
AB Capstone acquired a 70 percent stake in both properties in 2018 for $30.5 million from New York REIT.
2. Verizon bought a trio of warehouses at 131 Morgan Avenue in East Williamsburg for $30.9 million from 131 Morgan Holding Corp. Faizurahman Aminy signed for the seller. Built in 1925, the properties span 56,500 square feet and were last sold in 1995 for an undisclosed amount.
3. An entity connected to Anbau Enterprises bought a 4,100-square-foot, non-residential vacant lot at 10 West 17th Street in the Flatiron District for $15.5 million from an entity tied to Bhatia Development.
Bhatia and Sherwood Equities filed plans as a joint venture to develop a 15-story residential condominium at the site. The property was last sold in 2015 for $28.3 million.
Read more
Commercial
New York
Turnbridge nabs Hunts Point warehouses, topping midsize i-sales
Commercial
New York
Slate buys Midtown apartment building, leading midsize i-sales
Commercial
New York
Madison Realty’s pickup of Williamsburg hotel site tops midsize i-sales
4. Beekman NY LLC bought a mixed-use building at 166 William Street in the Financial District for $15 million from Wenn LTD. Jaspinder Sandhu signed for the buyer and Cyrus Nallaseth signed for the seller.
Built in 1900, the two-unit property spans five floors across 13,900 square feet. It was last sold in 1992 for an undisclosed amount.
5. Third Ave NY Realty LLC bought five mixed-use buildings at 1984-1990 Third Avenue in East Harlem for $13.5 million from 1990 3rd Ave LLC. Leopold Kaufman signed for the buyer and Nuchem Obstfeld signed for the seller. Built in 1900, the properties consist of 13 units across 14,700 square feet. They were last sold in 2020 for $3.5 million.
6. Entities connected to Long Island-based Lions Group and the manufacturing company Premier Care Industries bought a commercial building at 48-02 Queens Boulevard in Sunnyside for $10.9 million from an entity tied to Long Island-based Plaza Realty LLC. Jack Biondo signed for the seller.
Built in 1929, the one-story property spans 13,300 square feet and was last sold in 2001 for an undisclosed amount.