Agents:
TerraCRG announced the following exclusive assignments:
•The sale of the development site at 1556-1560 Pacific Street in Crown Heights, of Brooklyn. The 60 by 107.17 ft. site between AlbanyAvenue and Troy Avenue, consists of three tax lots totaling 6,430 s/f zoned R6, which allows for 14,146 buildable s/f. Peter Matheos is handling the assignment.
• Matthew Cosentino has been retained as the exclusive agent for the sale of the multifamily building at 208 Starr Street, Bushwick. The two story 25 ft x 65 ft building has four free market apartments, all of which will be delivered vacant.
•The sale of two commercial buildings at 333-359 Moffat Street and 11-37 Irving Avenue on the Bushwick and Ridgewood Border. The buildings have a combined total of 34,945 s/f with 6,500 s/f of parking. The properties are being offered for sale as a package or individually, with a combined asking price of $7,400,000. Dan Marks is handling the assignment.
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Besen & Associates announced that Greg Corbin and Miguel Jauregui have been retained to sell a 7.5 acre parcel with 329,000 bsf in City Island, Bronx. Currently operating as a marina with 3.5 acres of land is above high tide. This property is located at 155-157 Pilot Street and City Island Avenue. The asking price is $7,950,000.
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EPIC Commercial Realty announced the following exclusive assignments:
• The sale of 66 Hendrix Street in Cypress Hills, Brooklyn. The property is a package of three adjacent, three-story, walk-up, mixed-use buildings, on the same tax lot, with each address having its own entrance. It boasts 82 ft. of retail frontage on Jamaica Ave. The buildings contain four one-bedroom and two three-bedroom apartments, as well as three ground-floor retail units. The property is listed for $1,500,000 by Marcus Jecklin.
• The sale of 160 Empire Boulevard and 1751-7 Bedford Avenue in Prospect-Lefferts Gardens, Brooklyn. The property is comprised of a one story commercial building, vacant lot and a warehouse with 37,940 s/f of development rights. The site provides 190 ft. frontage on Empire Blvd and 100 dt. frontage on Bedford Ave. 1751-7 Bedford Avenue is listed for $8,500,000 by Baruch Edelkopf, Heshie Goldfein and EPIC CEO Yona Edelkopf.
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GFI Realty Services has been named the exclusive sales agent for two apartment buildings in Brooklyn: 5 Fourth Place in Carroll Gardens and 350 Fifth Street in Park Slope. Yosef Katz and Yisroel Pershin, will oversee the marketing of the two properties, which are priced at $3.35 million and $3.5 million, respectively. The building at 5 Fourth Place is a four-story walkup with eight apartments, six of which are currently vacant. The Park Slope property is a four-story walkup with eight apartments, four of which are rent-stabilized. The four free-market units, two of which are vacant, were recently renovated.
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Fox Residential Group is leasing a professional / medical space at 983 Park Avenue at $10,000 per month. The fully-built medical offices is located in a white glove residential building between 83rd and 84th Streets with a dedicated entrance on Park Avenue. It comprises approximately 1,200 s/f of contemporary furnished space with private office and use of examination room, procedure room, full operating room, treatment room and reception area with client restroom. Barbara J. Dervan, NYRS, is marketing the space.
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Laurence Ross of Highcap Group is marketing a 4-story, 20-unit apartment building at 316 68th Street in the Senator Street Historic District in Bay Ridge, Brooklyn. Built in 1917, the property is one block from the subway and near the main shopping district. There are 19 rent stabilized, one rent controlled tenant and 19 rent stabilized units. Ownership has set an asking price of $4,100,000.
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Massey Knakal announced the following exclusive assignments:
• 230 Sullivan Street, a five-story walk-up building, contains 4,725 s/f and sits on a 21 x 50 ft. lot. It consists of nine residential units, all of which will be delivered vacant. A portion of the lot allows for commercial use, which gives the buyer the option to convert the ground floor into a retail space. Mitchell
Levine is marketing the property with James Nelson. The asking price is $5,750,000.
• The leasehold interest of a retail property at 1821-1837 Richmond Avenue. The asking price is $1,675,000. The property is occupied by two tenants, TD Bank and Z One Restaurant and Lounge, which are located on separate lots with in-place absolute NNN leases. The land is encumbered by a 49-year leasehold agreement which runs through 2051. James Nelson is exclusively marketing the leasehold interest.
Sales:
Jacob Aronov of Alpha Realty completed the sale of 1097 Prospect Place in the Crown Heights section of Brooklyn for $3.05 million. Aronov represented both the buyer and the seller. The 4-story limestone building was built in 1905, consists of 13 apartments, and is 15,028 s/f. The sellers were active multi-family investors who sold to a local investor. This transaction achieved a 13x the rent roll multiple and a cap rate of 4.0%.
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JMH Development and PSB Capital, a NY-based joint venture, have closed on the acquisition of 2901-2911 Indian Creek Drive, South Beach, Miami. The $5.65 million purchase will transform the existing vacant structures into an upscale boutique condominium with an exclusive collection of amenities and services. Jason Halpern, founder of JMH Development, said financing was provided by Titan Capital and Miami’s Ackman-Ziff represented the joint venture as the buyer.
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Lawrence “Chip” Porter and George Valliades with NGKF Capital Markets represented H. Lipsitz Companies in the disposition of 12-14 Cedar Street in Bronxville, N.Y., which sold for $8.5 million at an approx. two percent cap rate for potentially 12+ years to an undisclosed buyer. One block from the Bronxville train station, the 27,000 s/f single-story retail building is leased to A & P
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GFI Realty Services, Inc. announced the sale of 197 St. Marks Avenue, a three-story walk up apartment building in the Prospect Heights section of the Brooklyn for $1.95 million, or $325,000 per unit. This multi-family property consists of six apartments and was constructed in 1931. This deal was exclusively handled by Shlomo Antebi.
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Eastern Consolidated has arranged the sale of 720 West 172nd Street, also known as 121-123 Haven Avenue, in Washington Heights for $8.5 million. The six-story, multi-family building, located at the corner of Haven Avenue and West 172nd Street, is comprised of 32 apartments. This is the first time the 36,125 s/f, walk-up building has sold in 34 years. Matthew Sparks and Abram G. Bernstein represented the seller, David Tseng. Sparks also procured the buyer, Barberry Rose Management.
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Ariel Property Advisors announced the sale of 4250-4280 White Plains Road, a block front commercial property, and 712 East 236th Street, an adjacent two-family house, in the Wakefield section of the Bronx. The package sold for $7.15 million. Scot Hirschfield, Victor Sozio, Jason Gold, and Shimon Shkury represented the seller, a real estate investment group, and procured the buyer, an owner-user. The buyer operates Le Point Value Thrift, a chain of clothing stores throughout New York City. The buyer saw the large vacant space as an opportunity to open a new location while at the same time acquiring an income-producing property with an eclectic mix of long-term tenants.
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Massey Knakal announced the following sales:
• The Eastern Parkway Multifamily Portfolio, five properties located at 1613, 1617, 1621, 1625, and 1631 Eastern Parkway between Saratoga Avenue and Thomas S. Boyland Street in Brooklyn’s Ocean Hill neighborhood, was sold in an all-cash transaction valued at $9,650,000. The portfolio includes five walk-up properties consisting of four multifamily buildings and one mixed-use building all located on a single block. The buildings combine for approximately 73,450 s/f, featuring 60 residential units and one commercial unit. The sale price equates to approximately $131 psf. Stephen P. Palmese exclusively handled this transaction with Bob Knakal and Edward Gevinski.
• A two-unit loft building at 268 Water Street in the South Street Seaport Historic District, was sold for $5,000,000. The three-story building contains 5,544 s/f and has floor-through apartments on the second and third floors with ground floor home-office space. About 15 years ago, the entire building was gut renovated with non-toxic, natural and green/recycled materials. Most of the building’s mechanicals were new at the time of the sale and the building was delivered vacant. The sale price equates to approximately $902 psf. Michael DeCheser exclusively handled this transaction.
