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Deals & Dealmakers

ON THE SCENE: Avison Young gets exclusive in Bronx


The Tri-State Investment Sales Group for Avison Young announced the following exclusive sale assignments:


• 751 Concourse Village West, a development site offering up to 99,184 buildable square feet in an Opportunity Zone in the Bronx. The asking price is $8,995,000. James Nelson, Principal, Head of Tri-State Investment Sales along with Director Daniel Tropp, and Associate Directors Fritz Richter, Allan Fries, Toku Saito and Willis Fries will market the 15,259 s/f lot located on the corner of Concourse Village West and East 156th Street. The site, which allows for commercial or community facility use, is currently being used as a 30,400 s/f parking garage managed on a month-to-month basis, so it can be delivered vacant upon its sale. With the inclusion of a community facility component, the property has the potential for up to approximately 99,184 buildable square feet.

• 1665 Cornelia, a newly renovated, four-story, walk-up, co-living building in Ridgewood, Queens comprised of 6 residential units. The asking price is of $4.9 million. The 6,624 s/f building is being marketed on behalf of ownership by an Avison Young team comprised of James Nelson, Principal and Head of Tri-State Investment Sales, Director Brandon Polakoff, as well as Associate Director Fritz Richter and Associates Bradley Rothschild, Joseph Rosenfeld and Allan Fries. The building is currently managed by Common, a co-living company. 1665 Cornelia is located between Cypress and Wyckoff Avenues, walking distance from both the L and the M trains as well as multiple bus routes, providing easy access to Queens, Brooklyn, and Manhattan.



Adelaide Polsinelli, Vice Chair of Compass and the newly launched investment sales division, along with Trystan Polsinelli, have been hired to market 63-49 & 63-53 60th Place in Ridgewood, Queens. The property offers a total of approximately 21,000 of buildable square feet and a combined frontage of 94 feet on 60th Place. The property currently contains a three-story industrial building with parking at 63-49 60th Place and a two-story home next door at 63-53 60th Place. Both properties will be delivered vacant. 63-49 & 63-53 60th Place are located within walking distance to the M train and in close proximity to the Q39 and Q58 buses.


Jonathan Schwartz at HPNY has been retained to sell a medical office co-op at 740 Park Avenue. The 2,100 s/f of medical office space has seven examination rooms, two administrative offices and four restrooms. It is currently configured as an orthopedic office with an area for physical therapy. Adaptable to any medical specialty; onsite surgical center can be built. This office has its own private entrance on East 71st Street. Asking Price: $2,995,000.


RM Friedland announced that Marco Lala has been retained to sell the following properties:


• 110 Beekman, an 11-unit corner building on Beekman Ave in Sleepy Hollow, NY ‘value-add’ asset surrounded by billion dollar river-town condominium development projects in a downtown shopping and dining district, and walking distance from the Tarrytown Metro North train station (30 minutes to Midtown Manhattan). Brick and stucco mixed use building consists of six residential apartments, 4 storefronts, and a two-story loft space. The loft space can be converted into two additional storefronts as well as two more apartments. Features include: two new roofs, coin operated laundry, sheet rock and sprinklers in all private and common areas, hardwired smoke detectors, all steel staircases and emergency lighting. Residential tenants have heating systems in their units. Asking price is $2,350,000.

• 3004 Cruger Ave, Bronx, a seven unit all brick building located on the Southeast corner of Cruger Avenue and Adee Avenue. The subject property is comprised of six (6) two bedroom apartments and one (1) one bedroom apartment totaling 6,150 square feet. Features include; a new oil boiler, above ground oil tank, marble entrance. One block away from major shopping corridor on White Plains Road . Asking price $1,425,000.

• A portfolio of three apartment buildings steps from Broadway in the Fort George section of Northern Manhattan. This package offering consists of 70 apartments and a rooftop cell tower. Many units have bee nrenovated with stainless steel appliances, modern fixtures, and quartz countertops. 85 Fairview Avenue is a walk-up building with 24 apartments; 325 Wadsworth Avenue is walk-up building with 25 apartments; 649 West 184th Street is a walk-up building with 21 apartments. Asking price is $19,995,000.


Rudder Property Group and Hidrock Properties are marketing office condominiums at 35 West 36th Street. 35 West 36th Street is a 12-story, creative loft-style office condominium building located in the thriving Herald Square submarket off Fifth Avenue. The 81,000 RSF building consists of 3,300 s/f half-floor units, with the ability to create 6,600 RSF on one floor. Units feature multiple exposures, high ceilings, attractive wood floors, exposed brick walls, private restrooms, individual HVAC systems and large kitchen areas.


Barcel Group announced the sale of three buildings totaling $7,287,500. The properties are 837 Manhattan Avenue, 2405-2409 Nostrand Avenue and 1024 New York Avenue, in Brooklyn,

• 837 Manhattan Avenue is a 3 story walk-up building located in Greenpoint, the corner property consists of 2 residential apartments and2 retail stores. The building was built in 1926 and is a total of 3800 square feet. The property sold for $3,062,500. Marcel Fridman represented all parties in this off-market transaction.


• 2405-2409 Nostrand Avenue is a 3story walk-up building located in Midwood, the property consists of 12 residential units. The property was built in 1925 and is a total of 10600 square feet. The property sold for $2,800,000 or 12.5x. Marcel Fridman represented the purchaser in this off-market transaction.

• 1024 New York Avenue is a 3story walk-up building located in Flatbush. The property consists of 6 residential units. The building was built in 1931 and is a total of 5250 square feet. The property sold for $1,425,000 or. Marcel Fridman represented the all parties in this transaction.



Devli Group, in a Joint Venture with Aspen Realty, has taken control of a 129,632 s/f, two-building, office complex in Eatontown, NJ. The JV acquired the note on the property in November 2018 at auction and has now completed the foreclosure process and taken title to the complex located at 260 & 270 Industrial Way West in Eatontown, The complex consists of a main 100,272 s/f building and an additional 29,360 s/f building situated on 8 acres near the oceanfront city of Long Branch. The property is currently fully net leased. Devli Group’s founder and CEO, Erol Devli, made the announcement.



Eric S. Goldschmidt, Senior Partner at Goldschmidt & Associates, announced that the company brokered the sale of the former Chase Bank building at 101 Mamaroneck Avenue, Mamaroneck, NY. The 10,000 s/f building at the corner with Boston Post Road (U.S. 1) was sold to a religious institution. There are no details at this time regarding its future use. The sales price was close to the asking price of $2,000,000. Handling the sale for Goldschmidt & Associates were Pam Bren Goldschmidt and Adam D. Bren.


Griffin Industrial Realty, Inc. closed on the sale of approximately 280 acres of undeveloped land in Simsbury, Connecticut for approximately $7.7 million. The buyer plans to use the land to generate solar electricity. Griffin expects to record a pretax gain of approximately $7.4 million on this transaction in the second quarter of the fiscal year ending November 30, 2019.


Marcus & Millichap announced the following sales:


• A 27,790 s/f mixed-use property located in Manalapan, NJ, sold for $3,400,000. Charles Loccisano and Michael Lombardi, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Charles Loccisano secured the buyer, a private investor. The property is located at 151 State Route 33 in Manalapan, NJ. and has access to Routes 9, 95 and 195 as well as the Garden State Parkway

• Ladybird Academy, a 12,400 s/f net-leased property located in Clermont, FL, a suburb of Orlando, sold for $4,050,000. Michael Lombardi and Steven Schiavello had the exclusive listing to market the property on behalf of the seller, a private investor. The duo also secured and represented the buyer, a limited liability company. Brian C. Hosey is tje regional manager of the firm’s New Jersey office. Ryan Nee is the firms’ Broker of Record in Florida. Ladybird Academy is located at 2400 E Highway 50 in Clermont, FL. A diverse mix of national tenants such as, Walmart Supercenter, Target, Wendy’s, Lowes, Home Depot, Planet Fitness and many more, occupies the immediate surrounding area.

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