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Deals & Dealmakers

ON THE SCENE: Polsinellis tapped for Brooklyn building, Houlihan closes on $6.7M of Westchester property

AGENTS

Compass announced that Adelaide Polsinelli and Trystan Polsinelli have been hired to market 59 McGuinness Blvd, also known as 130 Nassau Avenue, in Greenpoint, Brooklyn. The four-story building consists of one ground floor retail store with four renovated residential units above. The property features a corner store, currently a grocery with full basement, and a rear courtyard. There are three one-bedroom apartments and one three-bedroom duplex with a rooftop deck and partial city views. The property includes unused development rights, offering the potential for a one-story penthouse addition.

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Cushman & Wakefield has been retained to sell 340 East 58th Street, a 24,847 s/f residential building in Midtown East. Ownership is currently seeking investors for this opportunity. Robert Burton, Will Conrad, Bobby Carrozzo, Jonny Garfinkel and Olivia Faria will be leading the marketing efforts on behalf of the seller. The seven-story residential rental building islocated on the south side of 58th street between 1st and 2nd Avenues. The building has recently undergone extensive renovations to both the exterior and interior. It onsists of 20 free market units, 17 rent-stabilized units, a commercial office unit and a super’s unit. Over the past decade, 13 of the units have undergone a partial or full renovation. The property features one passenger elevator which will be delivered with a new cab and new machinery at the time of the sale.

SALES

Lee & Associates NJ announced the following sales:

Michael Schaible, senior vice president, completed the sale of a 72,000 s/f industrial office building in Englewood for $16 million. Located at 100 W. Forest Avenue, the property is a contemporary, multi-tenant high-tech facility that offers abundant parking and strong aesthetics. Set on 4.6 acres, the property sits amidst one of the most easily accessible transportation hubs in Bergen County. Lee & Associates NJ will remain the property’s leasing agent. Schaible represented the buyer, Sitex Group.

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Lee & Associates NYC announced that Alfonso Holloman, CCIM, Senior Managing Director/Principal, arranged the sale of 1575 East Gun Hill Road, between Kingsland and Mickle Avenues, in Baychester for $1.28 million to Inner Court Sanctuary Praise Palace. The 5,029 s/f property will serve as a place of worship for the congregation, which is relocating from 1660 East Gun Hill Road. Holloman represented both Inner Court Sanctuary Praise Palace as well as the seller, Jehovah’s Witnesses.

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Brax Realty announced that Michael J. Ferrara brokered the sale of a 7,951 s/f mixed-use building located at 240 East 75th Street on the Upper East Side, between Second and Third avenues. The property sold for $6,900,000. Ferrara exclusively represented the seller, The Serel Family, in the transaction. The purchaser was an international private investor. The property is located three blocks from the new Q subway station at 72nd Street. It is comprised of 10 apartments and two retail stores currenlty occupied by Lucky Foot & Back Spa and B.Cafe, a Belgian Brasserie which has been a tenant of the building since 2006. Out of the ten apartments, three are rent stabilized and the remaining seven are open market. The property has an additional 2,265 s/f of air rights and the retail tenants have long-term leases in place. The property sold for $867 psf and a cap rate of 4.43%.

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Houlihan Lawrence Commercial Group announced $6.765 million in sales closed in Lower Westchester inventory in New Rochelle, Yonkers and Mount Vernon.
• In New Rochelle, Dudley’s Parkview Restaurant and Bar and the adjacent 80-slip Polychrom Marina sold for $3.7 million, with Bryan Lanza of the Klein Lanza Sales Team representing both buyer and seller. Dudley’s has been serving the New Rochelle community since 1920, offering boat docking and waterfront dining year-round. The new owner plans to keep the restaurant and business running as-is for the foreseeable future.
• Bryan Lanza represented both sides of the deal in the $790,000 sale of a 3,000 s/f building with a fully built-out restaurant at 30-32 North Broadway in Yonkers,
• 285 Saw Mill River Road in Yonkers was sold for $1,925,000, with the Klein Lanza team handling both sides of the deal. The industrial-zoned parcel has more than 30,000 s/f of total area on three floors. The new owner plans to use part of the property and lease out an auto repair shop, car sales lot and more than 2,000 s/f of office space.
• In Mount Vernon, a 2,000 s/f warehouse-type building with 17-foot ceilings at 13 South 6th Avenue sold for $350,000, with Bryan Lanza representing both buyer and seller.

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Marcus & Millichap announced the sale of the Holiday Inn Elmira/Horseheads, located at 2666 Corning Road, Horseheads, NY, The property sold for $3,000,000. Jerry Swon, Tim McCaffrey and Daniel Zagoria of the Manhattan office represented both sides. The property is located at the entrance of the Finger Lakes region, halfway between NYC and Niagara Falls in the Elmira MSA. It is proximate to major demand generator including Cornell University and Harris Hill Amusement Park. It is situated near Watkins Glen, and Binghamton on 2.6 acres. The two-storyproperty offers 99 rooms, an outdoor swimming pool, business center and fitness center.

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