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Deals & Dealmakers Featured

ON THE SCENE: Latest middle market sales

DANIEL SHAWAH

Bestreich Realty Group (BRG) announced the following sales:
• 231 Baltic Street in Cobble Hill, Brooklyn (pictured top) sold for $3,750,000. The four-apartment property is 4,132 above ground square foot priced at $938 psf. It is zoned R6, LH-1 with an FAR 2.43 and tax class 2A. The sellers were 231 Baltic LLC and the buyers are Baltic Holdings LLC. Derek Bestreich, Luke Sproviero, Adam Lobel, Gabriel Kates, Toby Waring and Daniel Shawah brokered the sale.
• 80 Clinton Avenue, a four-apartment multifamily property located in Clinton Hill, Brooklyn, sold for $2,200,000. The property is approximately 5,200 s/f an dpriced at $423 psf. The zoning is R6B with an FAR of 2.0 and a tax class of 2A. The seller was 80 Clinton LLC and the buyers were Clinton BK LLC. Derek Bestreich, Luke Sproviero, Adam Lobel, Gabriel Kates, Toby Waring and Daniel Shawah handled the deal.
• 91 N. 4th Street, a six-apartment property in Williamsburg, Brooklyn, sold $1,875,000. The 5,625 s/f property priced at $333 psf and $312,500 per unit. The seller is Corigin Real Estate and the buyer is 91 N 4th LLC. Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky, Corey Haynes and Justin Zeitchik facilitated both sides of the transaction.

TOBY WARING

• 297 President Street, a four-unit multifamily property in Carroll Gardens, sold for $3,300,000. The 4,404 s/f property priced at $694 psf and $825,000 per unit. The seller is 297 President LLC and the buyer is Eckstrom NYC. Derek Bestreich, Luke Sproviero, Adam Lobel, Gabriel Kates, Toby Waring and Daniel Shawah brokered the deal.

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The Oak & Avery Group announced the following sales:
• 349 Saw Mill River Road, Yonkers, a 9-unit mixed-use building consisting of seven apartments and two stores, sold for $1,480,000 and a 6.2% cap rate.
• 72 W 1st Street Mount Vernon, a 12,500 s/f mixed-use office/retail property sold for $1,145,000, representing $92 psf.
• 149 W 5th Street, Mount Vernon, a multifamily property comprised of five free-market apartments, sold for $755,000, representing a 6.3% cap rate.
The Oak & Avery Group’s David Algarin and Anthony Watkins represented both buyer and seller in all transactions.

•••
CBRE announced the $1.35 million sale of Mainland Professional Office Park located at 1750 Zion Road in Northfield, NJ. BB Capital, LLC, an affiliate of the Becker Organization based in Montclair, acquired the three-building office complex from JAMAG Inc. Bill Tourtellotte negotiated the sale on behalf of JAMAG Inc. The new ownership plans modernizing upgradesto the three-building, 21,440 s/f property.

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Marcus & Millichap announced the following sales:
• 3044 Amboy Road, a 10,200 s/f mixed-use property located in Staten Island, sold for $1,100,000. Jakub H. Nowak represented the seller, an individual/personal trust, and the buyer. The property consists of five apartments and three medical offices, with all spaces sub-metered for heat, electricity and gas, and a private parking lot.
• 139 Clinton Avenue, a 5-unit apartment property located in Brooklyn, NY, sold for $3,200,000. Shaun Riney and Andrew Bronsteen represented the seller and secured the buyer. The 6,275 s/f property is zoned R6B with 22.5 ft. of frontage. It features five two-bedroom apartments, some with outdoor space and backyard access. Four units have been recently renovated, while one unit is still under construction.

40 SCHERMERHORN

• 40 Schermerhorn Street, a four-unit apartment property located in Brooklyn, sold for $3,100,000. Shaun Riney and Michael Salvatico represented the seller and secured the buyer. The asset is configured as an owner’s triplex, with one two-bedroom apartment and three one-bedroom apartments. It was delivered vacant.

205 HALLOCK ROAD

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Katz & Associates announced the sale of the freestanding former Party City property at 205 Hallock Road in Stony Brook, NY. The 1.16-acre property sold for $1.6 million to Zucker Investment Group (ZIG) represented by Russel Helbling and Stu Fagen of Sabre Real Estate. Brian Katz, Jonathan Greenberg and John Heretakis represented the seller.

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