Agents
ERG Property Advisors announced the availability of a two-story mixed-use building in Ardsley, New York. The Center Street property consists of a retail unit on the ground floor, a two-bedroom apartment on the second floor, and a parking lot with six available spaces. The building sits blocks away from well-known national retailers including Chase Bank, Wells Fargo, CVS, Rite Aid, Dunkin’ Donuts, Starbucks, and Carvel. It is adjacent to the New York State Thruway and Saw Mill River Parkway. The asking price for this package is $450,000. Andrew Walsh is handling the assignment.
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Massey Knakal Realty Services announced the following exclusive sales assignments:
• A five-story townhouse at 320 West 101st Street containing 5,787 s/f. It consists of four Free Market apartments, with three floor-through one-bedroom units and a three-bedroom duplex. The property has a south facing garden. The house has undergone a number of upgrades in recent years. The property also holds approximately 1,076 s/f of air rights. Hall Oster is exclusively marketing this property.
• Two warehouses at 159 & 160 21st Street. The properties are located across the street from each other, between 3rd and 4th Avenues, in Brooklyn’s Sunset Park neighborhood. The asking price for the two buildings is $2,250,000. 159 21st Street is a one-story warehouse containing 2,500 s/f. It features 15 ft. ceilings, gas blowers, a roll-down door, and significant air rights. 160 21st Street is a two-story modern warehouse containing 4,500 s/f with steal beam construction, spray-on fireproofing, and a sprinkler system. There are approximately 16 foot high ceilings behind the roll-down door on the ground floor and built-out offices with central air conditioning on the second floor. Ken Freeman or Andrey Yanoff are marketing the property.
Sales
Ariel Property Advisors has announced the sale of a four-story, 20-unit multifamily property at 35-48 Steinway Street in Astoria, Queens. The property traded for $3 million, which represents $234 psf and $150,000 per unit. The sales team of Michael A. Tortorici, Shimon Shkury, Victor Sozio, Jonathan Berman and Randy Modell served as exclusive agents for the seller, a real estate investment group, and procured the buyer, a local investor. Located two blocks from the M/R trains at 34th Avenue, the property is surrounded by several neighborhood landmarks including the Museum of the Moving Image and Kaufman Astoria Studios.
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GFI Realty Services Inc., announced the $1,850,000 sale of 553 East 187th Street, a five-story walk up located in the Little Italy section of the Bronx. The property consists of 26 units and the price translates to $71,000 per unit and 6.5 times the rent roll. The early 20th century apartment building totals approximately 19,500 s/f. Yanni Simantov, an associate of GFI Realty Services Inc., exclusively represented the seller and buyer, both local investors. The new owner intends to make capital improvements to achieve market rate rents.
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Mack-Cali Realty Corporation sold a building located at 51 Imclone Drive in Branchburg, NJ, for approximately $6.2 million. 51 Imclone Drive is a single tenant, two-story, 63,213 s/f commercial real estate property.
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Marcus & Millichap Real Estate Investment Services announced the following sales:
• Carlstadt Gardens, a 16,844 s/f retail property located in Carlstadt, NJ, sold for $5,400,000, representing $320 per square foot. Michael Lombardi along with Preet Sabharwal represented the seller. They generated 22 offers on the center during the listing process, resulting in a sale $100,000 over asking price. The buyer was an overseas investor.
• Rite Aid, a 10,752 s/f Net Leased property in Waverly, OH, solf for $2,395,000. Preet Sabharwal and Chris Thomson represented the seller, a private investor. Michael Glass, regional manager of the firm’s Ohio office, was the broker of record for the transaction.
• Rite Aid, a 14,673s/f Net Leased property located in Lansingburgh, NY, sold for $6,175,000. Preet Sabharwal, represented the seller, a developer. The buyer, a private investor, was secured and represented by Preet Sabharwal and Lazarus Apostolidis. Marcus & Millichap obtained non-recourse 10-year financing for the purchaser.
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Massey Knakal sold a mixed-use building located at 106 Greenwich Street for $5,700.000. The five-story, 25 foot-wide building is located t a few blocks south of the new World Trade Center complex. The building consists of 16 residential units, with two retail stores on the ground floor. This property was part of the 28 building, $250 million, Century Portfolio which Bob Knakal has been marketing over the past several months. Knakal represented the seller along with director of sales Nick Petkoff. The buyer was represented by Ivan Hakimian at Hakimian Properties.
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Rosewood Realty reported the following recent Manhattan transactions:
• A $11.3 million sale of 1-15 Bennett Avenue in Washington Heights. The six-story elevator apartment building features 56 apartments and five commercial units.
• The 43,749 s/f building was built in 1950 and sold for 12 times the rent roll. Aaron Jungreis represented the seller, a local family investor and Rafael Toledano of Weissman Realty Group, represented the buyer.
• A $9.6 million sale of 315 East 10th Street in the East Village. The newly constructed five-story elevator apartment building features 12 apartments . The 10,000 sq. ft. building was built in 1920. Aaron Jungreis represented both the buyer, a local family investor and the seller, 315 East 10th Street owners LLC. It sold for 15 times the rent roll.
• A $4 million sale of 314 East 106th Street, a six-story walk-up apartment building in East Harlem consisting of 28 apartments and two commercial units. The 15,330 sq. ft building was built in 1920. It sold for 10 times the rent roll. Aaron Jungreis represented both the buyer, a local family investor and the seller, 110-112 LLC and Pompano Holdings LLC.
• A $1.715 million sale of 27 Broadway Terrace, a four-story walk-up apartment building in Washington Heights consisting of 17 apartments . The 9,728 s/f building was built in 1928. Ryan Perkoski represented both the buyer, a private investor and the seller IhDuck Kim.
• The $5.9 million sale of 1710 & 1730 Popham Avenue in Morris Heights. The two, six-story elevator apartment buildings feature 73 apartments and a laundry room. The combined 67,800 s/f buildings sold for 7.5 times the rent roll . Aaron Jungreis represented both the buyer, Stuart Morgan and the seller.
