Javeri Capital buys on Crosby Street; Caspi Development surrenders properties

This week’s mid-market sales, ranging from $10M to $40M

Javeri Capital Buys On Crosby Street; Caspi Surrenders
Javeri Capital's Atit Javeri, 91 Crosby Street; Caspi Development’s Joshua Caspi, 74 Broad Street (Linkedin, Getty, Javeri Capital, Caspi Development)

Action has been heated in the year’s first full week in the mid-market investment range, which The Real Deal defines as investment sales between $10 million and $40 million. Last week’s are listed below, ranked by value.

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  1. Atit Javeri’s Javeri Capital paid $29 million to investment firm GreenOak for a 22,0000-square-foot, mixed-use building at 91 Crosby Street in Soho. HudsonPoint Group was a partner in the acquisition. GreenOak paid $25 million for the property in 2015.
  2. Caspi Development’s surrender of properties at 74 Broad Street in Manhattan and 134 Broadway in Brooklyn accounted for a large portion of mid-market deals this past week. In a $19.6 million transaction for 74 Broad Street, Nassimi Realty acquired the six-story office building in Williamsburg that Caspi paid $19 million for in 2018. Nassimi received 134 Broadway in a transfer valued at $17 million. The transactions stem from foreclosures that Pacific Western Bank filed in 2022.
  3. An entity connected to Cine Magic Companies paid $19 million to Pasadena-based Alexandria Real Estate Equities for a single-story warehouse at 47-50 30th Street in Long Island City, Queens. Alexandria paid $25 million in 2019 for the property.
  4. Chestnut Holdings increased its presence in the Bronx with an $18 million purchase of an 182-unit rental building at 975 Walton Avenue in the Bronx. Attorney Kevin J. Nash signed for the seller, 975 Walton Bronx LLC.
  5. Shinko Japan paid $16 million for a 20-unit building in Hell’s Kitchen. Attorney Michael A. Mulia signed for seller 437 West 45SG LLC, which paid $7 million for the building in 2022.
  6. An entity under the name HW Development 3 LLC paid $15.8 million for a vacant building at 250 West 30th Street in Chelsea.
  7. An entity connected to Mendel Berkowitz’s Borough Developers paid $12 million to Slate Property Group for 155 South Elliott Place, Brooklyn. A planned 101-unit is under construction at the Fort Greene site, which Slate acquired with other properties in 2022.
  8. Peak Capital Advisors paid $10 million for a 22-unit residential building at 75 Thompson Street, Manhattan. The sellers were an entity connected to Gabriel and Eugene Brodsky.
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