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I-sales recap: Chehebar family sells Midwood dev site

A hotel near Jamaica station and a Williamsburg office building also traded hands

Jackson Group's Elliot Chehebar; rendering of 2251 Nostrand Avenue (Compass Commercial, Getty)
Jackson Group's Elliot Chehebar; rendering of 2251 Nostrand Avenue (Compass Commercial, Getty)

UPDATED, May 31, 2023, 5:49 p.m.

A two-star hotel near the Jamaica LIRR station traded for $17 million and brothers Elliot and Ike Chehebar sold a South Brooklyn development site in two of just four mid-market investment sales that hit city records last week.

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Below are more details on all four deals recorded for commercial properties between $10 million and $40 million in the five boroughs last week, ranked by dollar amount:  

  1. The building that hosts the Blue Bird Inn hotel at 138-68 94th Avenue in Jamaica — near the AirTrain to John F. Kennedy International Airport — swapped hands for $17.2 million. The five-story hotel, built in 2003, was sold by Hariohm Realty LLC, which lists Harshad Patel as its proprietor, in addition to several other people with the last name Patel, records show. The buyer was an anonymous LLC.
  2. An entity tied to developer Ulgur Aydin paid $13.5 million for a 20,000-square-foot, two-story office building at 177 North 10th Street in Williamsburg, between Driggs and Bedford avenues. The seller was Brooklyn-based FRI Realty Corp., records show. The 20,000-square-foot. The property comes with 10,000 square feet of additional air rights, according to PincusCo.
  3. Elliot and Ike Chehebar’s Jackson Group sold a development site at 2251 Nostrand Avenue in Midwood, Brooklyn, for $12.8 million to an entity called Nostrand Land LLC, which lists a Midwood address. Jackson Group acquired the site in 2019 as part of a $19 million deal for a larger parcel, another piece of which it sold off for $6.1 million in 2020, records show. At the time, Jackson Group planned a 50,000-square-foot retail project on the site, near Brooklyn College and the Triangle Junction mall.
  4. A four-building affordable housing complex in Morrisania, the Bronx, sold for $10.4 million to an entity called BR Affordable Housing LP. The seller is BR Affordable Housing JV. The complex spans four addresses on Boston Road — 1038, 1056, 1065, and 1077 — and totals 152 units across 150,000 square feet.

Correction: An earlier version of this story indicated that Jackson Group took a loss on the Midwood development site, but did not take into account the fact that a separate piece of the property was sold for $6.1 million in 2020.