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Deals & Dealmakers

ON THE SCENE: Alpha Realty secures exclusive leasing for several properties, CBRE team sells $8 million dev site in NJ

AGENTS

Alpha Realty has been retained as exclusive brokers for several properties. Lev Mavashev is spearheading the assignments along with his associate Jake Brodie:
• 174 Delancey Street is a mixed-use building consisting of 22 apartments and 2 stores, priced at $9,300,000. Featuring a mix of free market and rent stabilized units, the building is located on the Lower East Side.
• 2368 Adam Clayton Powell Boulevard is a 5-story building consisting of six apartments and three commercial unit. Priced at $3,000,000 a 4.75% Cap Rate offers a value-add play in gentrifying neighborhood.
• 48-33 47th Street is a three-story brick building with six apartments. Priced at $2,000,000, it is located a short distance from the Brooklyn-Queens Expressway and the Long Island Expressway.
• 2883 Atlantic Ave is a corner mixed-use building consisting of 13 apartments and two stores, the building has been gut renovated, and is located close to the local subway line. There are also 10,000 s/f of air rights available. Priced at $5,000,000.
• 934 Glenmore Avenue is a three -story building consisting of six apartments which has been fully gut renovated in the past few years. With an asking price of $1,450,000 this deal is priced at a 5.5 percemt Cap Rate, offering stable cashflow and upside potential.
• 735 E.182nd Street is a 21-unit apartment building located two blocks from the Bronx Zoo in the Belmont section of the Bronx. It’s a well-maintained building in a desirable area of the Bronx priced at $4,600,000.
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The international Secret Brokers Society sales and leasing team of Joseph Aquino, president of JAACRES, and Lynn San Andres, president of The Mason Alexander Group, is marketing the retail condo at 300 East 62nd Street on the southeast corner of Second Avenue. The asking price is $8 million The 9,500 s/f three-level condominium features a wrap-around 70 ft corner, a 12-passenger elevator, four bathrooms and high ceilings. The condo is currently being used as a design showroom.

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RM Friedland announced that Marco Lala is marketing an almost full-block retail and office opportunity in the Pelham Bay neighborhood of the Bronx for $9 million. 2925 &

2931 Westchester Avenue includes multiple buildings totaling 29,700 s/f and located in an R7-1/ C2-2 zone which may allow for the construction of a 103,000 s/f square feet mixed use property (with a community facility). The property is located in front of the MTA #6 Train Buhre Avenue Station at the intersection of Westchester Avenue, Buhre Avenue and Crosby Avenue.

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Shay Zach, principal broker, and Shy Fieldust Galor, of Gaia Property Group, have been retained to sell the following properties:
• 481 Hicks Street, a newly renovated landmarked, 4-story, 5,800 s/f eight-unit building located between Kane and Degraw streets in the most coveted Cobble Hill Neighborhood of Brooklyn. Apartments are free-market with an average monthly rent of $3,350. The property is located within walking distance from the Bergen Street F, G Train station, Asking Price is $5,950,000.
• 1178 Gates Street & 446 Gates Street, Brooklyn, is a recently converted eight-family building and a ground-up eight-family building, both vacant. The properties are in mint condition and located within a short distance to the subway.
They can be sold as a package or separately, Asking price is $8,100,000.
• 1259 Lincoln place, Brooklyn, is a newly-renovate, 11-family brick building spanning approximately 6,700 s/f and located between Troy and Schenectady Avenues in Crown Heights. The property recently underwent a full gut rehab and features 11) vacant apartments and a back yard. All 11 apartments are free-market. The building is within walking distance of the Utica Avenue and Kingston Ave. train stations.

SALES

EPIC Commercial Realty announced the following sales:
• An assemblage of three vacant lots in the Bushwick neighborhood of Brooklyn for $2,800,000. Avishay Yarimi was the agent that spearheaded the deal, selling to Skyvision Capital Group. Located at 1109 to 1115 Decatur Street in one of Brooklyn’s eclectic neighborhoods, the vacant lots contain a total of 13,200 s/fof development rights. New plans and advancements on the site were not disclosed.
• A mixed-use building at 325-327 Greenwich Street, Tribeca, containing lofts and retail spaces sold for $7,300,000. Ido Tzaidi and Tal Sharon were sole agents in the off-market deal. Josh Greenberg and Frederick Rudd’s Rudd Realty Management Corporation were the buyers. The corner building contains four lofts and four retail units. All four retail spaces are vacant or on a month-to-month tenancy.
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NAI James E. Hanson announced the following sales:
• A 41,700 s/f industrial building at 727 South Avenue in Piscataway, N.J. to Cavalli Cabinets. Eric Demmers and Russell Verducci in the transaction with seller, Deals for Less, LLC. The property offers access to Route 287 and Exit 10 of the New Jersey Turnpike and lies within a 40-mile radius of Newark Airport. Featuring 2,500 s/f of office space, parking, 14 ft. ceilings, five loading platforms and one drive-in, it is ideal for a range of industrial uses. Cavalli plans to use the space for kitchen cabinet manufacturing, warehouse and distribution.
• A 7,800 s/f industrial/flex building at 238 High Street in Hackensack. Anthony Cassano represented the seller, High Street Hackensack LLC, and the buyer, Vanore Electric, in the exclusive transaction. Boasting a highly flexible layout and a prime location near Interstate 80 and Route 17, 238 High Street features 16 ft. ceilings, three overhead doors and a double lot, which offers onsite parking in the front and rear of the property. Hackensack-based Vanore Electric required a larger facility that would allow them to grow yet remain in the area to service both new and current clients.
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Angel Commercial announced the following sales;
• 132 Jamaica Avenue Realty Corporation purchased an industrial flex building located at 72 Camp Avenue in Stamford, Connecticut, for $4,875,000. Jon Angel represented both parties in the investment deal that utilized a 1031 Exchange. Scott Gerard of Shipman & Goodwin LLP was also involved. The seller was 72 Camp Avenue LLC. The building is a 33,822 s/f two-story industrial flex building on approximately one acre in a Light Industrial (M-L)) zone. Located in the Springdale section of Stamford near the Darien border, it is steps away from the CT Transit bus line and within walking distance to the Springdale Metro-North Train Station.
• The former Stratfield Market building at 1280 Stratfield Road in Fairfield, CT, has been sold to Summit Development LLC for $1,450,000. Brett A. Sherman, CCIM, senior vice president of Angel Commercial, brokered the sale of the property, which had been vacant since 2006 when the market closed after being in business for over 50 years. Summit Development plans to redevelop the building for their new tenant, The Goddard School, a pre-school franchise that will be opening in the fall of this year. The 9,612 SF two-story commercial building sits on 0.90 acres of land at four-way signalized intersection on the corner of Stratfield Road and Fairfield Woods Road.
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XRE NY announced the following sales:
• A mixed-use building with four residential and one retail unit at 291 Evergreen Ave, Bushwick, Brooklyn sodl for $1,7900,000. The property is built to 4,125 s/f on a 2,000 s/f floorplate. The building traded for $434 PSF. Yagnesh Vangala and Mike Rybinskov of XRE NY represented the purchaser and seller in this transaction.
• The $1,060,000 sale of a seven-unit residential building at 1713 Zerega Avenue in Westchester Village, Bronx. The property is lbuilt to 5,620 s/f on a 2,590 s/f floorplate. The building traded for $188 psf. Lins Agokeng of XRE NY represented the purchaser and seller in this transaction.
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CBRE announced the $8 million sale of a development site at 1290 Wall Street in Lyndhurst, New Jersey, to Gramercy Property Trust Blackstone Group. Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team and CBRE National Partners, along with CBRE Vice Chairman Thomas Monahan, negotiated the transaction on behalf of the seller, Rugby Realty Company. The 5.67-acres of land can accommodate 85,400 s/f of Class A warehouse/distribution space.
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Holliday Fenoglio Fowler announced the sale of a 134,500 s/f, vacant industrial warehouse facility in Jersey City. The HFF team marketed the property on behalf of a private seller. The Avidan Group and Elberon Development Group purchased the asset as co-owners. Situated on 5.6 acres at 21 Caven Point Avenue, the property is located off of Exit 14B of Interstate 78, seven miles from New York City and nine miles from Port Newark-Elizabeth Marine Terminal and Newark Liberty International Airport. 21 Caven Point Avenue features a solar panel system; low office finish; and 13 docks, including nine interior docks. The HFF team included senior director Michael Oliver, senior managing director Jose Cruz, directors Marc Duval and Jordan Avanzato as well as senior managing director Kevin O’Hearn and senior director Steve Simonelli.
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Marcus & Millichap announced the following sales:• 206 Bushwick Avenue, a 6,000 s/f mixed-use property, sold for $2,650,000. Shaun Riney and Michael Salvatico 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.
• 59 Graham Avenue, a 5,428 s/f mixed-use property sold for $2,600,000. Shaun Riney and Michael Salvatico, represented the seller, a private investor, and the buyer, a private investor.
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CBRE announced that their client purchased a 4,546 s/f property located at 1800 Route 70 East in Cherry Hill, New Jersey. The property was acquired by Thy Kingdom Crumb, a free food truck service launched last summer by Eagles quarterback Carson Wentz’s AO1 foundation. CBRE Vice President Dan McGovern represented Thy Kingdom Crumb during the sale transaction. Thy Kingdom Crumb is a community initiative dedicated to helping all people in the Greater Philadelphia and South Jersey communities. The food truck service offers free, quality food to everyone regardless of socioeconomic status. The

Cherry Hill location will serve as the organization’s new headquarters and food storage facility. Thy Kingdom Crumb acquired the property from The Bannett Group, LTD. for an undisclosed price. The Bannett Group was represented by Adam Rose of Rose Commercial Real Estate.

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