Thursday’s Real Estate Board of New York gala packed an estimated 2,400 guests into the Hilton New York’s overstuffed Grand Ballroom—an increase from last year by about 200. The Commercial Observer walked the room, hobnobbed with brokers and landlords and taste-tested a dinner of steak and potatoes while washing it all down with a few stiff drinks. Staff Reporters Karsten Strauss and Al Barbarino get the inside dish.
Real estate brokerage Marcus & Millichap has arranged the sale of a four-and-a-half-story walk-up building at 458 West 50th Street in Hell’s Kitchen for $3 million, The Commercial Observer has learned.
The 4,923-square-foot property features six units, including a one-bedroom penthouse with a balcony and a first floor two-bedroom with a garden. The rest are full floor, one-bedroom apartments. Read More
Larry Gluck’s Stellar Management has purchased an apartment building at 26 Vandam Street for $6.1 million in a play to add air rights to its undertaking at One SoHo Square.
Gluck plans to tack the 15,625 square feet of air rights onto the 80,000 square feet of new office penthouse space being added to neighboring 161 Sixth Avenue and 233 Spring Street.
“Because the air rights are essentially unusable towards the immediate property, Stellar Management will use them for the huge redevelopment of the office buildings next door — that will be a huge win for them,” said Peter Von Der Ahe, a first vice president of investments at Marcus & Millichap, who brokered the deal along with Joe Koicim, a vice president of investments, and David Lloyd. Read More
Marcus & Millichap has arranged the sale of a five-story, 4,788-square-foot townhouse at 402 West 22nd Street in Chelsea for $3.5 million, The Commercial Observer has learned.
The property consists of a total eight units: six studio apartments, a single one-bedroom duplex, and a three-bedroom duplex on the ground floor.
The building is situated in the heart of West Chelsea, just off the corner of West 22nd Street and Ninth Avenue, one block from the Chelsea Highline, two blocks from the A-Line Subway, and a short walk from Chelsea Piers. Read More
Springhouse Partners has purchased 105 Grand Avenue, a 38,500-square-foot, newly-constructed residential building in the Clinton Hill section of Brooklyn for $16 million, sources tell The Commercial Observer.
The sale was an off-market deal brokered by Sean Lefkovits, Joe Koicim and Peter Von Der Ahe of Marcus & Millichap; and the seller was a group of undisclosed Brooklyn-based investors that decided to part ways, sources said. Read More
