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Deals & Dealmakers

ON THE SCENE: Marcus & Millichap announces sale of Brooklyn development site

AGENTS

Cushman & Wakefield announced the following exclusive sale assignments:

JONATHAN SQUIRES

• 1476 East 222nd Street, a 17,195 s/f industrial warehouse in the Baychester section of The Bronx. Jonathan Squires, Addison Berniker, Michael Fioravanti, Josh Neustadter and Shayne Soltan will be leading the marketing efforts on behalf of the property’s seller. 1476 East 222nd Street is located within an Opportunity Zone and suitable for last mile delivery or local business looking for quick access to New York City and the North East Corridor. The single-story warehouse is currently owner-occupied and will be delivered vacant. The property is M1-1 zoned, has 21 ft. ceilings and four drive-in garages, one of which has a loading dock. Additionally, there is a mezzanine level with a separate entrance that provides office space above the warehouse.

• 4521 Third Avenue, a 22,345 s/f hotel property in the Belmont neighborhood of the Bronx. Jonathan Squires, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan will lead the marketing efforts on behalf of the property’s seller. The property is located in an Opportunity Zone and offers suite-like layouts. Flexible C4-4D zoning offers a redevelopment opportunity for commercial or residential use, with a strong retail opportunity on the ground floor. 4521 Third Avenue sits on the southwest corner of Third Avenue and East 183rd Street with 140 ft. of wraparound frontage. Located directly across the street from St. Barnabas Hospital, the property has 32 units and three commercial spaces.

•••

SUSAN LEE

Besen Partners announced that Susan Lee and Shlomo Gelernter have been retained exclusively to sell 106-09 Rockaway Boulevard Ozone Park. The property is a 2-story restaurant/banquet/catering hall. The 9,400 s/f commercial building is located on the north side of Rockaway Boulevard, between 106th and 107th Streets, in South Ozone Park, Queens. The site is newly renovated from top to bottom. The location can seat 550 guests. Top floor seats 225 and the bottom floor seats 225. It has a waterfall feature in the lobby, crystal chandeliers, Bluetooth enabled color-changing lighting. There are two prep kitchens and two offices. Prep kitchens have an elevator, dishwashing, ice machine and service entrance. The Resorts World Casino is located one block away and the property is in close proximity to the Aqueduct race track and JFK Airport. Asking price is $3,500,000.

AGENTS

Besen Partners announced the following sales:

BEN WEISS

• 610 & 639 Fayette Avenue, two fully-leased, light industrial buildings in Mamaroneck, Westchester county. The properties were exclusively listed and sold by managing director Ben Weiss for $1,750,000. Weiss is currently representing the same family in the sale of 824 Lexington Avenue in Manhattan. The properties were previously owned and are occupied by J. Pocker & Sons Inc., a family-owned high-end framing business. One property consists of 6,800 s/f and the other is 2,711 s/f. Both buildings are fully occupied until August of 2022, at a rent which equates to $12 psf. The price works out to a 4.5 percent cap rate and $184 psf. Bill Anson of Friedland Realty consulted on the deal.

• 38 condominium units located within Seaview Estates, a five-building residential condominium complex at 108-43 Seaview Avenue in the Canarsie section of Brooklyn. The package was sold for $5,500,000, which equates to $145,000 per unit and $219 psf.

The complex consists of five three-story residential buildings, containing 223 condominium units, a pool, two tennis courts, fitness center, laundry room and 192 auxiliary parking spaces. Managing directors Sanjay Gandhi and Ben Weiss were the exclusive sales brokers who led the sale and marketing efforts for the seller.

•••

Marcus & Millichap announced the following sales:

• 2188 Pitkin Avenue, an 8,250 s/f foot mixed-use property in Brooklyn, sold for $1,862,500. Jakub H. Nowak and Thomas Brennan represented the seller, a limited liability company, and the buyer, a limited liability company. The vacant, turn-key daycare facility will continue to be operated as a daycare.

MATTHEW PETERS

• 75 McGuinness Boulevard, an 8,625 s/f development site located in Brooklyn, sold for $2,250,000. Jakub H. Nowak and Jason I. Moskowitz, represented the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by the team.

• 341 Shepherd Avenue, an 18,000 s/f development site located in Brooklyn, sold for $1,300,000. Matthew R. Peters represented the seller, a private investor, and the buyer, a private investor.

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