Kelly Borbon of Besen & Associates has been retained exclusively to sell 645 Van Nest Avenue in the Van Nest neighborhood of the Bronx. This property, built in 1926, is a 5-story walkup building with approximately 20,604 SF. The property has 23 apartments and 3 stores. It is located on the Northwest corner of Van Nest Avenue and Unionport Road, near the 180th Street station on the [2, 5] subway trains. Asking price is $5,600,000.
GFI Realty Services, LLC announced that it has been named the exclusive sales agent for 2261-2263 Church Avenue (62-64 Martense Street), a block-through lot located in the Flatbush section of Brooklyn. The property is comprised of a three-story commercial building and adjacent land with 20,355 buildable square feet. GFI Realty Senior Director Erik Yankelovich and Associate Solomon Rozental will oversee the marketing of the property, with pricing targeted at $8.5 million. The commercial property totals 10,245 s/f and is leased to a single tenant with ten years remaining on the lease. The land facing Martense Street has 34 feet of frontage and is ideal for residential development. There are proposed plans in place to construct a 10- unit 9,483 s/fapartment building on the lot.
ABS brokered the $1.1 million sale of a retail condo in Harlem. The 1,300 s/f space at 151 Lenox Avenue, which is leased by Harlem Coffee Company, is comprised of 976 s/f on the ground floor and 350 s/f on the lower level. The storefront was recently leased by Harlem Coffee Company and will serve as the brand’s flagship retail location when it opens early this year. Mark Tergesen of ABS Partners Real Estate represented the seller in the transaction, 151 Lenox, LLC. The buyer of the retail condo was 151 Malcom X LLC., a local investor.
Besen & Associates announced the sale of the retail and garage condo units located at 941-951 Hoe Avenue in the Bronx. Matthew Garcia and Richard Torres were the sole brokers involved in this transaction. The commercial property consists of two retail condominiums and a parking garage condominium. The property was sold for $5,000,000. Thee retail units were constructed in 2005. It consists of 9,205 s/f within the two stores, while the parking garage consists of 55,816 s/f for 250 licensed parking spaces, totaling of 65,021 s/f. The sale price equates to a six percent capitalization rate.
Rafinia Property Group, a New York based real estate firm, announced the acquisition of the Riverside Shops of Salem, a 50,000 s/f retail shopping center in Salem, Indiana. Riverside is located at 403-405 South Main Street in the heart of Salem’s retail district and is currently 96% occupied. he center features a mix of local and regional retailers and is anchored by both Dollar Tree & Goody’s. Built in 2008, the center is in pristine condition and is a central destination for local residents and shoppers. Evan Rafinia said the seller, Equity Investment Group, a Indiana based group sold the asset for $3,000,000. Steve Anevski of Marcus and Millichap represented both buyer and seller in the transaction.
Brett A. Sherman, CCIM, Senior Vice President of Angel Commercial, L.L.C., announced the sale of a 9,000 s/fmixed-use building located at 35 Kings Highway East in Fairfield, Connecticut, for $1.1 million. Sherman represented the buyer, BAO Partners, LLC, who acquired the property as an investment.