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Deals & Dealmakers

$10M and under sales keeping these firms busy


Marcus & Millichap announced the following sales:
• 52 Greene Street in Soho sold for $10,400,000, and rated at a 3.52% cap rate. Matt Fotis and Colton Traynham represented the seller, a local family. The duo also procured the buyer, an international investor. 52 Greene Street is a mixed-use office and retail building located in the SoHo neighborhood, between Grant and Broome Streets. Encompassing approximately 5,029 s/f across three stories and a finished basement, it has one ground-level retail suite and two floor-through office units with 4,346 s/f of additional air rights.
• 36 Walker Street in Tribeca sold for $9,250,000. Barbara Dansker represented the seller, a private investor. Dansker also procured the buyer, an active owner/manager in New York City. 36 Walker is a five-story walk-up building with original tin ceilings, windows, and interior brick walls. Delivered vacant, the mixed-use site offers the buyer 11,336 s/f of redevelopment opportunity.


Bestreich Realty Group (BRG) announced the following sales:
• 462 141st Street in Hamilton Heights, Harlem for $1,250,000. The eight-apartment multifamily property offers approximately 4,706 s/f at $266 psf. All 8 apartments are fully rent stabilized. Steve Reynolds, Luke Sproviero and Kyle Katz facilitated this transaction representing the seller, 462 141 LLC and the buyer, Seth Weissman from Urban Standard Capital.
• 82 Clinton Avenue in Clinton Hill, Brooklyn for $2,750,000. This 4-apartment multifamily offers approximately 5,200 s/f at $529 psf. Gabriel Kates, Derek Bestreich, Luke Sproviero, Adam Lobel, Toby Waring, and Daniel Shawah repped both sides in the transaction, the seller, 82 Clinton LLC and the buyer, Clinton Avenue LLC.
• 568 Lafayette Avenue in Bedford-Stuyvesant, Brooklyn. This new construction 10 unit multifamily sold for $6,000,000. This property offers approximately 8,542 s/f at $702 psf. Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davila assisted both seller 568 Lafayette Avenue LLC, and buyer, Lafayette Avenue LLC.


Cushman & Wakefield announced the following sales:
• 66 Bayview Avenue, a 3,475 s/f retail building home to Citibank in Manhasset on Long Island. The closing price was $3.375 million, or $971 psf. Daniel Abbondandolo and Melissa Naeder represented the buyer, Debabrata Banerjee. The seller, CB Manhasset LLC, was represented by Stefanie Cosentino and Stephani D’Amato of Cosentino Realty. 66 Bayview Avenue is a single-story property fully leased to Citibank, with eight years remaining in the lease.
• 111-17 Northern Boulevard, a 32,184 s/f multifamily property in Corona, Queens. The final closing price was $4,785,000 million, or $149 psf. Stephen R. Preuss and Kevin Louie represented the seller, Sing & Mehta, LLC. The buyer, Carmelle Bellefleur, was represented by Amit Doshi of Meridian Capital Group. 111-17 Northern Boulevard is a four-story brick corner apartment building. The 38-unit walk-up property features 29 one-bedroom and 9 two-bedroom unit.
• 2882-2904 Long Beach Road, a 10,044 s/f retail center in Oceanside on Long Island, sold for $3.95 million, or $393 psf. Daniel Abbondandolo, Mike Ventricelli and Dimitri Mastrogiannis represented the seller, DHL Realty LLC. The asset is fully leased to tenants including regional and national franchises to local operators in the food, fitness and service sectors.

JLL Capital Markets announced the following sales:
• 3041 Webster Avenue, a development opportunity in the Norwood neighborhood of the north Bronx. The seller was Sam’s Carpet, a long-term owner-operator; Bolivar Development acquired the property for $6.4 million. The site includes an existing two-story, 15,140 s/f commercial, fireproof warehouse and has 126 ft. of frontage along Webster Avenue. Located in an inclusionary housing zone, it benefits from R7D/C2-4 zoning and can support a residential zoning floor area of 63,588 s/f or an inclusionary housing zoning floor area of 84,784 s/f. Karl Brumback, Eric Tiefen and Brian Streilein represented the seller.
• A full-floor commercial cooperative at 127 West 24th Street in Chelsea (pictured top) for the Ull Family. Apollo Electric acquired the 5,650 s/f space, comprising the entire fifth floor of the building, for $3.625 million. The seven-story 127 West 24th Street was constructed in 1904 and is home to mixture of professional tenants. The space was recently renovated and offers nine-foot ceilings and an open loft environment. The JLL team used Listing3D, a real estate property technology tool, to show the property. The sale was secured with the assistance of the virtual tool. Brock Emmetsberger, Ryan Kossoy and Reed Waggoner handled the assignment.


NKF sold a 70-year retail leasehold at 644 Greenwich for $10.2 million on behalf of 644 Greenwich LLC/Premiere Equities. teh property is subleased to Bright Horizons. Brian Segall and Jason Wecker were the sole brokers in the transaction. The buyer was 27-33 Realty Associates.


TerraCRG announced the following sales:
• A multifamily building at 269A Linden Street in Bushwick. Matt Cosentino, Fred Bijou and Eddie Laboz sold the property for $2,925,000. 269A Linden Street is a free market, gut renovated, six-unit building. It closed at about a 6% cap rate and $648 psf. TerraCRG represented the seller, Deergrow. The buyer was Abe Silberstein and family, also represented by TerraCRG.
• A mixed-use building at 203 Columbia Street in Brooklyn’s
Columbia Street Waterfront District. Matt Cosentino, Peter Schubert and Nick Hershey sold the property for $2,157,250. The closing was held via Zoom Conference with the Italy-based seller. The property consists of two residential units and a retail store and was sold for $682 psf. The retail store was delivered vacant. Pricing equates to a 5.3% cap rate. Both buyer and seller were represented by TerraCRG.


Ariel Property Advisors announced the sale of 305 East 182nd Street in The Bronx. The four-story, 36,000 s/f parking facility in the Fordham Heights neighborhood was sold for $2.8 million. Jason M. Gold, Marko Agbaba and Michael Tortorici represented the seller. The property, located on the north side of 182nd Street between Tiebout Avenue and Webster Avenue, consists of 240 parking spots and has a split zoning designation for C8-3 and R7-1, which allows for approximately 35,000 buildable square feet of commercial space and 17,000 buildable square feet of residential space. Currently, nearly half of the 240 parking spots are rented out on a monthly basis, while an additional 35 spots are rented overnight or daily by educators at nearby schools. Under the previous owner, gross rent was approximately $378,000 per year.

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