ON THE SCENE

AGENTS

EPIC Commercial Realty has been retained on an exclusive basis to broker the sale of a 13,125 buildable sq ft corner development site in East New York, Brooklyn. The property for sale, 632-642 Liberty Avenue, is comprised of two lots, one housing a 2,000sq ft building which will not be included in the sale.

Shay Zack

Shay Zack

The site has approved plans for five three-story, two-family homes. The buildings’ entrances are situated on Warwick Street and their shells have been completed. Each building will have a two-car garage, one three-bedroom duplex on the first and second floors, and one three-bedroom simplex on the third floor. Full DOB approved plans can be provided upon request.

Located on the southeast corner of Liberty Ave and Warwick St, the property is just one block from one of Brooklyn’s major retail streets Atlantic Avenue. Not only is the site one block from the Q24 bus stop but it is within walking distance of the J, Z, A & C subway stations.

Shay Zach, Senior Broker at EPIC, is representing the seller, who has the site listed for $1,850,000.

 

SALES

ERG Property Advisors announced for sale a CoCo Key Water Resort Hotel and Convention Center located at 3580 East Main Street in Waterbury, Connecticut.

The property sits on 8.86 acres and is 261,343 square feet. It consists of 282 hotel rooms, a 55,000 square foot indoor water park, and the second largest convention center in the state of Connecticut with roughly 40,000 square feet of space.

This indoor water park resort is located directly off Interstate 84 (Yankee Expy) and benefits from a daily traffic rate of approximately 100,000 cars. It is situated about 90 miles north of New York City, 125 miles southwest of Boston and 25 miles south of Hartford. The closest major airport is Bradley International Airport located 40 minutes just outside of Hartford.

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Fimida Enterprises has expanded its Brooklyn portfolio with the recent purchase of a mixed-use building at 672 6th Avenue in South Slope /Greenwood Heights. The 3,300 sq. ft. corner building, with a ground floor grocery market and two, three bedroom rental apartments above, sold for $890,000.
The purchase is the fourth recent acquisition in Brooklyn by Fimida Enterprises, a New York-based investment and management company that secured the contract before the sellers’ broker fully marketed the site.
Edward Perez from Josephina Real Estate Group, Inc. represented the sellers, Joseph and Mildred Marie Venditto, who have owned the property for over 30 years. Figotin represented himself.
Marcus & Millichap announced the following sales:
•The sale of 489 Baltic Street, a 6,242-square foot industrial property located in Brooklyn, N.Y., according to John Horowitz, regional manager of the firm’s Brooklyn office. The asset sold for $1,600,000.
Jakub Nowak and Hemal Patel from Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was also secured and represented by Nowak and Patel.
•The sale of 469 Harman Street, a 6-unit apartment property located in Brooklyn, N.Y., according to John Horowitz, regional manager of the firm’s Brooklyn office. The asset sold for $1,250,000.
Shaun Riney, Dan Greenblatt and Thomas Shihadeh from Marcus & Millichap’s Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by the team.
•The sale of a 44-unit apartment property located in Jersey City, NJ, according to Brian C. Hosey, regional manager of the firm’s New Jersey office. The asset sold for $4,375,000.
Steven Matovski, a senior associate in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Steven Matovski as well. The mid-rise apartment building located at 238-242 Garfield Avenue in Jersey City sits between Lembeck and Pearsall Avenue in Jersey City’s Greenville Section within walking distance of the nearby Danforth HBLR Station with a thirty minute commute to midtown Manhattan. Built in 1928, the four-story, brick building was running at 95 percent occupancy at the time of sale.

James Nelson

James Nelson

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Cushman & Wakefield announced that a townhouse at 77 Washington Place, located between Sixth Avenue and Washington Square West in Manhattan’s Greenwich Village Historic District, was sold in an all-cash transaction valued at $8,250,000.
The five-story Greek Revival townhouse has been owned by the same family for multiple generations and came to market for the first time in over 70 years.
It contains approximately 6,542 square feet and sits on a 22’ x 97.17’ lot. There are seven units, of which one is free market, two were delivered vacant and four are rent stabilized. They consist of a large duplex featuring approximately 17’ vaulted ceilings, three one-bedroom apartments, two studios, and a sunny top floor two-bedroom apartment. This townhouse features high ceilings, terrific light, and the potential to create a unique roof deck with undisturbed views north to the Empire State Building and south to 1 World Trade Center. The sale price equates to approximately $1,261 per square foot.
Cushman and Wakefield’s Hall Oster exclusively represented the seller in this transaction with James Nelson. The buyer was represented by Thomas Guss of New York Residence, Inc.

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