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Deals & Dealmakers

ON THE SCENE: Asset Commercial Realty Group tapped to sell Flushing condos

AGENTS

Asset Commercial Realty Group has been retained on an exclusive basis to arrange the sale of two community facility units in the Shangri-La 3 condominium building located at 31-18 Union Street, Flushing.

• Unit CF-1A is located on the retail ground floor. The layout consists of a reception area, an open activities area, three private offices in the front, two private offices in the rear, two bathrooms (one which is handicap compliant), and room for additional offices, conference rooms, or cubicle layouts. The unit has a net usable of over 2,370 ss/f of space and is in turn-key condition.

• Unit CF-CA is located on the lower level. There are three forms of egress to the unit including an elevator connecting the unit with the main lobby and residential portion of the building. The layout consists of nearly net usable of 1,870 s/f of open floor space with one bathroom. The floorplan can be modified to accommodate multiple uses.
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B+E announced that the new Mount Kisco Homegoods retail property located at 3 East Main Street, Mount Kisco, NY is for sale for $7,450,000. The building is 24,834 s/f on 1.24 acres of land and includes parking. The property carries a cap rate of 5.5% and a new 10-year NN lease with 4, 5-year renewal options. Spencer Henderson is handling the assignment.
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Leah Chen and Brandon Serota of Besen & Associates have been retained exclusively to sell a Greenpoint Assemblage, 506-518 Graham Avenue and Newton Street vacant lot. The property consists of four vacant lots with 8,301 total s/f, two existing houses and 22,920 bsf. Asking price is $11,000,000.

• 506 Graham Avenue, Brooklyn, is a vacant 3-story residential building with three apartments. Located between Newton and Bayard Street.

• 508 Graham Avenue, Brooklyn, is a 1,885 s/f lot. Located between Newton and Bayard Street.

• 518 Graham Avenue, Brooklyn, is a three-story mixed use building with six apartments. Located between Newton and Bayard Street.

• 514 Graham Avenue is a 1,875 s/f lot located between Newton and Bayard Street.

• 516 Graham Avenue is a 2,566 s/f corner lot located on Newton Street next to 516 Graham Avenue a few blocks from the Nassau Avenue subway.
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GFI Realty Services has been named the exclusive sales agent for 47 Withers Street, a fully renovated walk-up apartment building located in the Williamsburg section of Brooklyn. Associate Yehoshua Shamel will oversee the marketing of the property, with pricing targeted at $5.3 million.

The property recently underwent an Alt-1 renovation, and now features six apartments and a ground-floor commercial unit with an outdoor space. The building has a full-cork façade. The residential units, which are fully occupied, are completed with modern condo finishes. The vacant commercial space is ideal for usage as a restaurant or café.
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RM Friedland announced that Marco Lala is marketing 517 West 212th Street, a 100 ft. wide walk-up apartment building on the north side of West 212th Street between Broadway and 10th Avenue.

The property consists of 45 residential apartments. Features include a landscaped courtyard, steel and glass entrance, intercom system, security cameras, tile lobby, steel and marble staircase, brass mailboxes, boiler with duel fuel capable burner (currently on #4 oil), 5,000 gallon above ground oil tank and new parapet coping stones. The property is located a short walk to West 207th Street near Columbia Presbyterian Hospital, and two MTA stations. The asking price is $10,495,000.

SALES

Joel J. Gorjian, president & CEO of Gorjian Acquisitions, announced the following purchases:

• The Lee Wayne Plaza office/retail center in Sterling, Illinois. Located at 2317-2323 East Lincolnway, the 43,514 s/f, one-story office and retail strip center is situated on a 2.08-acre lot. Tenants include two government entities as well as McCormick Financial Services; Comcast; Castor Home Nursing; Back to Health Chiropractic Care; and several other commercial tenants. There are also two rental warehouse and storage spaces.

• 1450 Hayden Avenue, a 25,250 s/f single-tenant retail building in East Cleveland, Ohio. Discount retailer Roses Express occupies the 2 property at 1450 Hayden Avenue. The building provides 535 ft. of street frontage and sits on a 2.28-acre lot. Roses and Roses Express brands are owned by Variety Wholesalers, Inc., which operates nearly 400 stores, primarily in the Southeast and Midwest. Roses Express sells apparel, shoes, accessories, home furnishings and décor, toys, health and beauty products, and other household products. 1450 Hayden Avenue is the only major retail property within its residential neighborhood .
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Marcus & Millichap announced the following sales:

• 2761 East 15th Street, a 6-unit apartment property located in Brooklyn, sold for $1,310,000. John Brennan and Victor Holguin represented the seller, a private investor. The buyer, a private investor, was also secured and represented by the team. The sale price equates to below a 4% cap rate and roughly $257 per square feet.

• 306 Union Street, a 4-unit apartment property located in Brooklyn, sold for $4,100,000 million, which equates to $1,025,000 per unit, a price record for the area. Shaun Riney, Michael Salvatico and John Barney represented both buyer and seller/ the seller, a private investor.

• 275 Prospect Park West, a 4,800 s/f mixed-use property located in Brooklyn, sold for $2,350,000. Jakub H. Nowak, Matthew Rosenzweig and Jesse Kay repped both buyer and

• 91 1st Place, a 4-unit apartment property located in Brooklyn, sold for $4,750,000. Shaun Riney, Michael Salvatico and John Barney, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by the team.

• 479 Ralph Avenue, a 3,882 s/f mixed-use property in Brooklyn, sold for $1,200,000. Shaun Riney and Daniel Greenblatt, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by the team.

• 231 Bainbridge Street, a 4-unit apartment property located in Brooklyn, sold for $2,250,000. Shaun Riney and Daniel Greenblatt, represented the seller, a private investor. The buyer, a private investor, was also secured and represented by the team.
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CBRE announced the sale of 5005 Bergenline Avenue in West New York, New Jersey. The 7,000 s/f mixed-use corner lot property was sold for the benefit of a Charitable Remainder Annuity Trust, who is donating the proceeds of the sale to a non-profit school organization. CBRE’s Charles Berger, Elli Klapper, and Mark Silverman represented the seller and also procured the buyer.

Located one block from the 49th Street Train Station in West New York, 5005 Begenline Avenue is in a redevelopment zone that allows for both residential and commercial development. The location is attractive for an array of potential uses.
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Cushman & Wakefield arranged the sale of 212 Fifth Avenue, a 4,620 s/f retail condominium. John Ciraulo and Craig Waggner led the marketing efforts on behalf of the sellers, Building and Land Technology (BLT) and Madison Equities. The property was purchased by Eunate Real Estate NY, LLC who was represented by Christine Traina of The Traina Team at Douglas Elliman Real Estate. 212 Fifth offers over 200 feet of frontage and was divided into three stores by the seller. The unit was fully occupied with long-term leases .

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