Real estate investment firm Newcastle Realty Services purchased neighboring apartment buildings at 656 and 759 St. Nicholas Avenue in Harlem for a combined $5.6 million from Colorado-based real estate firm Aimco late last year, city records posted yesterday show.
Sellers sought to unload properties before looming capital gains tax hikes as December wound down, a main reason why the fourth quarter was the strongest investment sales quarter in two and a half decades.
The firm paid $4.4 million for the six-story, 20,640-square-foot property at 656 St. Nicholas Avenue, which features 30 residential units; and $1.2 million for the building at 759 — a 5,666-square-foot, four-story building with nine units.
Location-based social network Foursquare will say goodbye to its longtime office mates at 36 Cooper Square. The startup, which raised a $50 million round of funding this summer, has vastly outgrown the 7,600 square feet at the East Village digs it shares with Curbed and web design shop Hard Candy Shell, and is negotiating a sublease for the top two floors at 568 Broadway.
As you’re sitting down to your Reuben or Caesar salad today, allow the Real Estate Desk to direct you to some new lunchtime reading–after you’ve finished everything at Observer.com, of course–Curbed National.
Maybe grab a drink while you’re at it. “I’ve been telling people it’s like Architectural Digest after a three-martini lunch,” Curbed Network Read More