I-sales recap: Willets Point developers, Herrick founder’s grandson close deals

Related Companies and Sterling Equities paid $12.3 million for properties at 126-16 Northern Boulevard Sr South and 126-17 34th Avenue, Queens.

The land will be part of the Willets Point development, which is to include a 25,000-seat soccer stadium, a school, a 250-key hotel and 2,500 affordable housing units, according to Eric Benaim of seller Benaim X Partners.

The deal was a highlight of the holiday-shortened week of Jan. 16 to Jan. 19 in the mid-market, defined as investment sales between $10 million and $40 million.

Below are the week’s other two mid-market deals:

1. An unknown buyer, operating through West Lake 135-139 Avenue A LLC, paid $19 million for a 31-unit building at 135 Avenue A in East Village. The seller was an entity controlled by Peter Herrick and Norma Herrick of Chappaqua. Peter Herrick is a grandson of Abraham Herrick, the late founder of Herrick Feinstein, a prominent law firm in real estate circles. His other grandfather was a founder of what is now Maimonides Medical Center. Norma’s paternal grandfather was also a founder and president of that hospital, and her father was state Sen. Fred Meyerson of Brooklyn.
2. Poly Prep Country Day School paid $13.5 million to its lower school’s next-door neighbor, the Brooklyn Society for Ethical Culture, for the latter’s longtime home, 53 Prospect Park West. The off-market deal set a Park Slope townhouse record.