I-Sales recap: Lloyd Goldman buys Bensonhurst asset from Jeff Sutton

Paying extra for guacamole has a whole new meaning after retail mogul Lloyd Goldman’s BLDG Management dropped $28 million on a Chipotle in Bensonhurst.

But equally noteworthy about Goldman’s purchase — the largest of six mid-market investment sales recorded in New York City last week — may be the seller: Wharton Properties’ Jeff Sutton, who offloaded the Brooklyn property as he battles to save a far more valuable retail asset in Manhattan from foreclosure.

The outer-borough deal highlighted an otherwise sleepy week for investment sales in the mid-market range of $10 million to $40 million. Among the six deals recorded last week were a sale to a nonprofit, another to a high school, and a nonresidential development plot in Coney Island.

Below is everything you need to know about the six deals, ranked by dollar amount:

1. The Goldman-Sutton swap of the two-story, 26,000-square-foot retail building at 65-02 18th Avenue in Bensonhurst clocked in as the most expensive mid-market deal at $28 million. Chipotle signed an 11-year lease at the property in 2021, according to Compstak. Other tenants include Five Below and CityMD.
2. An entity tied to the Starrett Corporation sold a development site in Coney Island for $22.7 million. The 140,000-square-foot parcel, zoned for non-residential use, is nestled between Bay View Avenue, West 33rd Street and West 36th Street. The buyer, Oceangate Family Holdings LLC, lists a Brooklyn address.
3. Mountbatten Equities unloaded seven commercial condos at 421 Hudson Street in the West Village for $20.5 million to Argentic Investment Management. Mountbatten principal Barnet Liberman, who converted the 228,613-square-foot complex to residential and commercial condos decades ago, has had a rough go at the property in recent years. Condo owners sued Liberman in 2021 over unpaid common charges. Then, after declaring bankruptcy, he was accused of illegally transferring three units at the property to his family. The commercial space is leased to Equinox.
4. An entity tied to Movcap principal Lawrence Motvady bought a trio of walkup apartment buildings in the East Village for $13.8 million. The properties — at 105, 107, and 109 First Avenue — combine for 20,000 square feet over five floors each. Their 20 residential units are 70 percent free-market; the buildings also include an office unit and four ground-floor retail spaces. The seller was Jeison Realty.
5. The nonprofit organization Project Renewal — which provides services to people experiencing homelessness — purchased an office condo at 200 Varick Street in Soho for $12.5 million. The seller was Jeffrey Gural’s GFP Real Estate, which refinanced the building for $60 million last year. The 12-story, 490,000-square-foot office building dates to 1927.
6. Cristo Rey Brooklyn High School in East Flatbush purchased a neighboring three-story school building at 1377 Brooklyn Avenue from the Sisters of Mercy of the Americas for $10.8 million.