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Deals & Dealmakers

ONE THE SCENE: Bushwick plots for sale; Navy Yard parcel fetches $7M; Bronx building goes for $10.8M

AGENTS

Ariel Property Advisors has been named the exclusive sales agent to sell five development sites totaling more than 50,000 buildable square feet in the Bushwick section of Brooklyn. Daniel Tropp, Michael A. Tortorici, Jonathan Berman, Mark Spinelli, and Akil Rossi are marketing the lots, which together have an asking price of more than $7.3 million:

JONATHAN BERMAN
JONATHAN BERMAN

• A portfolio consisting of properties at 406 Cornelia Street and 1536 Putnam Avenue that are zoned for residential use. The asking price for both properties is $4 million.
• 189 Cooper Street A site allowing for approximately 8,800 buildable square feet as-of-right for residential use. The asking price is $1,375,000.
• 475-477 Central Avenue allowS approximately 11,000 buildable square feet as-of-right for residential use. The asking price fis $1.35 million.
• 1160 Greene Avenue an irregular vacant lot that will allow 7,056 buildable square feet as-of- right for residential use. The asking price is $625,000.
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Besen & Associates announced the following assignments:
Shallini Mehra and Amit Doshi of Besen & Associates, along with Luca Capin of Capin & Associates, have been co-exclusively retained to market a 4-building portfolio in Washington Heights. This package contains 4 walkup buildings and has a total of 83 apartments and 23 stores. 1380-88 St. Nicholas Avenue is a 5-story walkup building with 39 apartments and 10 stores, approximately 37,533 SF. 1466-68 St. Nicholas Avenue is a 4-story walkup with 16 apartments and 2 stores, approximately 15,592 s/f. 1395 St. Nicholas Avenue is a 5-story walkup with 16 apartments and 6 stores, approximately 20,932 SF. 1356-58 St. Nicholas Avenue is a 5-story walkup with 12 apartments and 5 stores, approximately 14,809 s/f.
Amit Doshi has been exclusively retained to market 2290 Andrews Avenue, Bronx, NY. The subject property is a 5-story walkup apartment building with 28 apartments, newly renovated and approximately 29,700 s/f.
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Eastern Consolidated has been retained as the exclusive agent to market for sale 156-158 East 33rd Street, a four-story mixed-use building that houses three apartments and two street level retail stores. The asking price is $7 million. James Famularo represents the seller.
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Massey Knakal Realty Services announced the following axclusive assignments:
•The sale of a parking garage / retail development site next to the Port Authority Bus Hub in Washington Heights at 4162 Broadway and 655 West 176th Street in Manhattan’s Washington Heights neighborhood. The asking price is $16,000,000. 4162 Broadway consists of a four-story, irregularly-shaped parking garage containing approximately 27,366 square feet, with three separate commercial units. Robert M. Shapiro is marketing this property.

• A commercial/retail property at 42-07 Northern Boulevard, Long Island City. The asking price is $8,950,000. The property consists of a single-story commercial/retail building that contains 24,387 s/f. Harley Davidson occupies 18,117 square feet and Koeppel Subaru occupies 6,183 square feet of the remaining space. Evan J. Daniel is marketing this property with James P. Nelson.

ROB SHAPIRO
ROB SHAPIRO

• An apartment building at 22 Pearsall Avenue in Freeport, Nassau County. The asking price is $4,850,000. The three-story walk-up building contains approximately 42,228 s/f and consists of 32 residential units. This property is being marketed by Thomas A. Donovan and Debra M. Cohen. 

• A multifamily building at 185 Graham Avenue, East Williamsburg. The asking price is $2,500,000. The four-story, newly constructed brick building contains four units and has 700 s/f of below grade recreational space. This property is being marketed by Mark L. Lively, Stephen R. Preuss and Brendan T. Maddigan.

SALES

The Barcel Group announced the following sales:
• 382 South 4th Street, Brooklyn, a property containing eight apartments. The sale price was $2,550,000, or $425 psf. Marcel Friedman represented both buyer and seller.
630 Central Aveenue, Brooklyn, a three-story walkup with five vacant apartments and a vacant store, sold for $950,000. Marcel Fridman represented buyer and seller.
• 657 East 21st Street, brooklyn, a 4-story walkup with 20 units, sold for 11 times the rent roll, $2,275,000. Marcel Fridman repped both sides.
• 4040 Elbertson Avenue, Queens, a 4-story, 32-unit walkup, sold for 10.5 times the rent roll. Gene Shlemovsky represented the seller. Marcel Fridman repped the buyer.
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Daniel Kole, managing director of the Residential Whole Loan Desk at Besen Special Assets, announced the closing of a non-performing loan portfolio secured by 49 residential assets located throughout New York, New Jersey and Connecticut with an unpaid principal balance of $15,000,000 and average loan size of $306,000. Besen acted asthe exclusive advisors to a New York community bank to source and execute the trade. The buyer was a New York-based private equity fund.
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Itzhaki Properties announced the sale of a four-story, pre-war apartment building at 719 Union Street, Park Slope, Brooklyn. The $2 million sale was an off-market deal brokered by Yona Edelkopf and Chris Kim. The building is comprised of eight railroad-style apartments.
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Kalmon Dolgin Affiliates, Inc. (KDA) arranged the sale of a 31,000 s/f building at 83-14 72nd Drive in Glendale, Queens, for $4.2 million.

GRANT DOLGIN
GRANT DOLGIN

Grant Dolgin and Dmitri Gourianov, along with Joseph Eliasoph of Sholom & Zuckerbrot represented the seller, Franco-American Novelty Co. Charles Wong from Greiner Maltz worked on behalf of the buyer, Utopia Produce, Inc. The one-story warehouse has a 4,000 s/f office and 4,600 s/fof land. The buyer plans to use the warehouse as part of its produce operation.
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The Manhattes Group announced the sale of four industrial parcels totaling approximately 22,675 s/f directly across from Brooklyn Navy Yard. The four contiguous parcels are currently separate one-story industrial buildings located at 278 Flushing Avenue, 11 Grand Avenue, 15 Grand Avenue and 17 Grand Avenue. The properties sold for $7,000,000 which is $309 psf, or $155 per buildable square foot. Alan Shmaruk and Michael Sherman represented both the seller and the purchaser, a foreign multi-national corporation which intends to build a corporate headquarters on the site.
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Rosewood Realty Group announced the following sales:
• A $10.8 million sale of 2255 Grand Concourse, Fordham Heights, Bronx. The six-story elevator 1936 apartment building features 68 apartments and 10 commercial tenants. The 81,450 sq. ft. building sold for 10 times the rent roll. Aaron Jungreis represented the both the buyer, Parkash 2255 LLC and the seller, 2255 Concourse LLC.
• A $10 million sale of 2701 Webb Avenue & 131 West Kingsbridge Road, Jerome Park, Bronx. The two contiguous six-story apartment buildings feature 70 apartments and seven commercial units. Aaron Jungreis represented both the buyer, a private investor and the sellers, 131 Ellsworth Enterprises LLC and 2701 Charlojack LLC.
• The sale of 711 East 183rd Street in Belmont, Bronx. This four-story walk-up apartment building features eight apartments and one commercial unit. Ryan Perkoski represented the seller, 711 East 183rd Street Realty Management, LLC and Rosewood’s Michael Guttman represented the buyer, Bronx 711 LLC.
• A $6.6 million sale of 3728 Avenue K in Flatlands, Brooklyn. The four-story walk-up apartment building features 58 apartments. This 41,596 s/f building was built in 1926 and sold for 9.6 times the rent roll. Aaron Jungreis represented both the seller, 3728 Ave. K LLC and the buyer, a private local investor.
• A $1.9 million sale of 1881 Grand Concourse in Mt. Hope, Bronx. The six-story elevator apartment building features 16 apartments and one commercial unit. Aaron Jungreis represented both the seller, 1881 Grand Concourse Owner LLC and the buyer, a private investor.
• A $1.3 million sale of 495 Quincy Street in Bedford Stuyvesant, Brooklyn. The four-story walk-up apartment building features 6 apartments. Aaron Jungreis represented both the seller and buyer, local investors.
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TerraCRG closed on the sale of 244 Madison Street in Bedford-Stuyvesant, Brooklyn. The four story renovated multifamily building has 8 apartments. The property sold for $3,650,000, or $391 psf and $456,250 per unit.Matthew Cosentino made the announcement.
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Rubin S. Isak of Falco Isak Realty Services announced the sale of three contiguous commercial buildings at 24-57, 59 & 61 47th Street in

RUBIN ISAK
RUBIN ISAK

Astoria, for $3,650,000. Rubin Isak represented the sellers and Ryan Maltz of Greiner-Maltz Realty represent ed the buyer. The propery is warehouse space with 6,000 s/f of office space. The seller was Kouverta, LLC and the purchaser was Platinum, LLC, a private investor in the area.

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GFI Realty Services, Inc. arranged the sale of 80-25 Parsons Boulevard, a three-story, two-elevator apartment building in the Hillcrest section of Queens, for $9.84 million. The property features 113 rental units and a 24-car parking lot. Shulem Paneth and Kobi Zamir originated the deal, while Yosef Katz procured the buyer, Zara Realty. The sale of the almost fully occupied building included 18,000 s/f of air rights.
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Jeff Weiss of Highcap Group, announced the $5,000,000 sale of a 5-story, mixed use building with 5,400 s/f at 332 East 14th Street in the East Village. The property consists of 7 apartments and 1 retail store. The new owner will continue to keep thecurrent bike shop operating while renovating and reconfiguring the residential units. Highcap represented both buyer and seller.

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