THIS WEEK’S SALES & ASSIGNMENTS UNDER $10 MILLION:
Ariel Property Advisors has announced the sale of a house of worship at 612 West 180th Street in Washington Heights. The property sold for $3.7 million. Victor Sozio, Michael A. Tortorici, Jesse Deutch, and Marko Agbaba represented the seller, a local church. Cesar Portilla of Keller Williams Realty represented the buyer, The Universal Church, which has locations throughout the United States. The property consists of a 12,631 s/f building with a sanctuary that seats 670 guests, and includes air rights that will allow for an expanded structure with approximately 25,800 buildable square feet as-of-right. Highcap announced the following sales:
•••
Laurence Ross and Christen Portelli, managing principals of Highcap Group, announced the $7,800,000 sale of the former 96,000 s/f Metropolitan Life Insurance Company records storage facility in Bronxville, NY. Located at 759 Palmer Road and situated on approximately one acre of land, it has been a fixture in the neighborhood for over 100 years. Highly visible from the Sprain Brook Parkway. The new owner plans to redevelop the proeprty into the Met Loft with 70 high end luxury rental apartments. Highcap represented both buyer and seller.
•••
Massey Knakal announced the following sales:
• Two contiguous newly constructed luxury multifamily buildings at 93-97 Waverly Avenue, in Brooklyn’s Clinton Hill neighborhood, were sold for $6,500,000. The five-story walk-up buildings combine for 11,974 s/f and total 17 residential units, with five two-bedroom, seven one-bedroom, and four studio units. The sale price equates to approximately $543 psf. Stephen P. Palmese exclusively handled this transaction.
• A mixed-use building at 134 East 28th Street on the border of Manhattan’s Kips Bay and Murray Hill, was sold for $2,600,000. The four-story walkup building contains 3,440 s/f and consists of a duplex office space on the ground floor and basement, with access to the garden. The parlor floor isequipped with a kitchen and an outdoor patio. Floors three and four are partitioned into six bedrooms and two full bathrooms. The boiler has been recently upgraded and the first two floors are outfitted with wall mounted mini-split cooling systems. The property’s most recent use was a convent. The sale price equates to approximately $756 psf. A local developer purchased the property and is planning renovations. John F. Ciraulo exclusively handled this transaction.
•••
HK Group announced the following sales:
• Franco Fellah,executive vice president, and Kerry Wood finalized the sale of the property located at 40 Belmont Street, Fairfield, CT for $1,200,000. The 1.6 acre site was previously Geiger’s Garden Center and will be used by the buyer for the same purpose. The seller was Frank Geiger, represented by HK Group, and the buyer was Freddy Miraballes, represented by Bill and Laura Grad of Aries, Deitch & Endelson.
• Franco Fellah completed the sale of the building located at 1032 Post Road East Westport. The price was $2,400,000. The 6,579 s/f bbuilding is centrally located on the Post Road East and sits on 0.43 acres of land zoned Highway Service District. After remodeling, the building will serve as design center and showroom for the buyer, Milton Development LLC, a local builder of high-end residential homes, whose offices are in Westport. Fellah was the only broker involved in the transaction.
•••
Northeast Private Client Group has announced the sale of the Valley View Apartments, a 29-unit garden-style apartment complex located at 209 Wolcott Street in Waterbury, CT. Bradley Balletto, the firm’s regional manager for Connecticut, represented both the seller and the buyer in the $1,350,000 transaction. The Valley View Apartments consist of studio, one-bedroom and two-bedroom apartments built in 1989, with 11 income-generating garages set on 2.32 acres. The Connecticut-based buyer, 209 Wolcott Waterbury LLC, purchased the property for a price that equates to more than $46,500 per unit, which represents a capitalization rate of 9.3 per cent on the current year’s net operating income. The seller, ROI Valley View LLC of Waterbury, CT, will focus on new projects moving forward.
***
Massey Knakal Realty Services announced the following exclusive assignments:
• Two extra-wide townhouses at 324-326 West 108th Street between Riverside Drive and Broadway are for sale priced $13,500,000. The properties are serviced by an elevator and have been interconnected for use by a non-profit tenant nearing the end of a long-term lease. The buildings could easily be separated and maintain separate entrances and staircases. There is a double wide garden and additional outdoor spaces could be created atop the three-story
rear extension and the roof which features Hudson River views. Paul J. Massey, Jr. and Hall Oster are handling the assignment.
• A townhouse at 11 West 84th Street. The asking price is $3,650,000. The five-story Renaissance Revival townhouse contains 7,300 s/f and has a basement space with separate entrance that could be suitable for a professional office. Michael DeCheser and Hall Oster are handling the assignment.
• A residential development site at 599-603 Willoughby Avenue in Brooklyn’s Bedford Stuyvesant neighborhood. The asking price is $1,900,000. The existing three-story structure contains 8,725 s/f and consists of a house of worship, cafeteria, and office space, as well as a vacant second and third floor that can be converted to apartments or redeveloped. Michael Amirkhanian is handling this assignment.
•••
Ronnie Shaban from Besen & Associates has the exclusive assignment to sell 11 Oval Drive located in Islandia, Long Island. This 1-story commercial building has 8 offices, onsite parking with 550 parking spaces, and approximately 61,305 s/f on 5.8 acres. The asking price is $6,900,000.
•••
Jeff Weiss, an investment sale associate with Highcap Group, announced a new exclusive in the Park Slope section of Brooklyn. Located at 43 Prospect Place, between 5th and 6th Avenues, the three-story brownstone has approximately 3,000 s/f and contains six units, with 2 rent stabilized and 4 free market apartments. The property is close to Prospect Park and Barclay’s Center, accessible to all major subway lines. Asking price is $2,425,000.
•••
Coldwell Banker’s Geri Epstein and Douglas Elliman’s Sol Szmulewicz are co-listing a development site at 100 East 149th Street in Mott Haven. The asking price is $3,000,000. Property is a 4,105 s/f on the southwest corner of East 149th Street and Exterior Street, adjacent to the Major Deegan Expressway and across from the Gateway Center at Bronx Terminal Market, which is a new million square foot shopping mall. It features 50 ft. of frontage on East 149th Street and 100 ft. of frontage on Exterior Street. There are curb cuts on both these streets. The zoning of the property is M1-4/R8A.
