Sales Beat

Marcus & Millichap Arranges $6.4M Upper East Side Sale

319 East 90th Street.

Marcus & Millichap has arranged the $6.4 million sale of a 9,000-square-foot, five-story residential walk-up building at 319 East 90th Street on the Upper East Side, Commercial Observer has learned.

The building, located between First and Second Avenues, contains 20 apartments—17 of them free market—with 12 one-bedrooms and eight studio units. Read More

Sales Beat

Marcus & Millichap Sells Midtown Development Site for $14.3M

1009-1019 Second Avenue

Marcus & Millichap has arranged the $14.3 million sale of a two-story commercial building at 1009-1019 Second Avenue in Midtown East, Commercial Observer has learned.

The 6,205-square-foot property features 42 feet of frontage on Second Avenue between 53rd and 54th streets. Two commercial tenants – Midtown 1015 and Sessions House – currently operate within the property, Read More

Sales Beat

Marcus & Millichap Arranges $5M Chelsea Sale

353 West 20th Street.

Marcus & Millichap has arranged the $5 million sale of a 3,884-square-foot townhouse at 353 West 20th Street in Chelsea, Commercial Observer has learned.

It’s not every day that a 23-foot-wide property hits today’s hot Chelsea market, brokers handling the sale said, noting that the seller “meticulously managed” the property for two decades before deciding to cash in on their investment. Read More

Postings

Ballroom Waltz: A Minute-By-Minute Account of Last Night’s REBNY Gala

REBNY Ballroom final

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.

Read More

Sales Beat

Marcus & Millichap Arranges $3M Hell’s Kitchen Sale

458 West 50th Street

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

Sales Beat

Stellar Management Scoops 26 Vandam Street in Air Rights Play

26 Vandam Street

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

Sales Beat

Marcus & Millichap Arranges $3.5M Sale of Chelsea Townhouse

402 West 22nd Street

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

Sales Beat

Springhouse Pays $16M for Second Brooklyn Acquisition in Recent Months

105 Grand Avenue

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