Real Estate Weekly
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Deals & Dealmakers

ON THE SCENE: This week’s middle market sales, exclusives

ADAM LOBEL

Bestreich Realty Group (BRG) announced the sale of 3021 Ft. Hamilton Parkway in Windsor Terrace, Brooklyn for $2,150,000. The mixed-used building that has five apartments and one store on the ground floor. It has 3,963 s/f priced at $543/sf. Adam Lobel, Gigi Morally, Derek Bestreich, Luke Sproviero, Toby Waring, Gabriel Kates, and Daniel Shawah repped both sides of the transaction. The sellers, 3021 FHP LLC and the new buyers at Fort Hamilton LLC.

ELLI KLAPPER

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CBRE announced $9 million sale of a 75,049 s/f office property at 10 Lanidex Plaza West in Parsippany, NJ. Located just off Parsippany Road on Interstate 80, the three-story office building was acquired by MSM Equities. The CBRE Tri-State Investment Properties team of Charles Berger, Elli Klapper and Mark Silverman, along with A&T Services’ Thomas Mallaney, represented the seller, Lincoln Property Company. Earlier this year, Mallaney secured a 31,442 s/f office lease at the office property with Solix, Inc., which paved the way for the eventual sale of the asset at premium pricing. Additionally, the CBRE New Jersey Project Management team was tapped to manage the build-out of Solix’s office space. The building features a three-story atrium with a waterfall, new landscaping and onsite parking.

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Cushman & Wakefield arranged the sale of 72 Westchester Square, a vacant, two-story, 3,500 s/f retail property in the Bronx. The final closing price was $1,300,000, equating to $361 psf. Jonathan Squires and Michael Fioravanti represented the seller. The property has 23 feet of frontage and is steps from the Westchester Square/East Tremont Subway Station.

SHAUN RINEY

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Marcus & Millichap announced the following sales:
• 115 Congress Street closed for $4,250,000,or $850 psft. Peter Von Der Ahe, Shaun Riney & Mike Salvatico brokered the sale. The 5,000 s/f four-story multifamily property is located in the Cobble Hill neighborhood of Brooklyn. It consists of four free market units — 2 two-bedrooms and 2 three-bedrooms. The property was delivered vacant and last changed hands 26 years ago.
• 34 E 39th Street, a mixed office and retail site in Midtown East, sold for $6,000,000. John J. Stewart and Nicholas Biedron represented the seller, Uzi Ruskin, a private investor who was looking to exit New York and reinvest in more business-friendly southern states. The pair also represented the buyer, Dr. Young-Hee Lowe, another private investor, who acquired the building to house her non-profit foundation, Young-Hee Lowe Foundation, which promotes scholarship and educational opportunities for Korean-American women. The fice-story property offers 6,872 s/f, including one retail suite, and nine office spaces.

GREG BATISTA

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RIPCO Real Estate announced the sale of the 7,668 s/f Woolsey Station Post Office Building (pictured top) located at 2268 31st Street (between 23rd Avenue and Ditmars Boulevard) in Astoria, Queens for $7.35 million. The building, owned by Ditmars Associates LLC, a New York-based ownership group, sold to LG Astoria LLC. Greg Batista, Todd Cooper and Mark Kaplan represented the seller.

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