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Sales Beat

Sales Beat

Hudson Companies Plans 420 Apartments in Prospect Lefferts Gardens

A rendering of Hudson Companies' 310 Clarkson Avenue development.

Private real estate development company Hudson Companies has picked up four parcels in Prospect Lefferts Gardens, Brooklyn, and will combine them with other adjacent properties to erect a roughly 350,000-square-foot residential development on the southeast corner of Nostrand and Clarkson Avenues, Commercial Observer has learned.

In the most recent transaction, Hudson Companies bought 318-350 Clarkson Avenue, which is comprised of four parcels with four existing buildings and a 50,000-square-foot footprint, for $13.1 million. The purchase from Health Science Center at Brooklyn Foundation, a not-for-profit organization affiliated with SUNY Downstate Medical Center, closed on March 16, property records indicate. The site offers 200,000 buildable square feet. Read More

Sales Beat

Ashkenazy Buys Bronx Commercial Site for $5.1M

3860 East Tremont Avenue in the Bronx.

Ashkenazy Acquisition has purchased a commercial building in the Throgs Neck section of the Bronx for $5.1 million, Commercial Observer has learned.

The site at 3860 East Tremont Avenue, on the northwest corner of East Tremont Avenue and the Cross Bronx Service Road North, includes a one-story, 15,000-square-foot vacant building with 23,618 square feet of air rights, 40 parking spaces and a tower for an advertising sign. Read More

Sales Beat

Icon Buys UES Building That is Home to Fig & Olive for $9.8M

808 Lexington Avenue.

The mixed-use building on the Upper East Side that houses the uptown Fig & Olive restaurant is off the market, according to brokers who negotiated the sale.

Developer Icon Realty Management bought the 6,400-square-foot building at 808 Lexington Avenue between East 62nd and East 63rd Streets for $9.8 million, or $1,500 per square foot, according to a spokeswoman for Kinsey Capital. Read More

Sales Beat

Online East Harlem Sale Claims Record Price

1700 Lexington Avenue.

An online real estate bidding site is boasting a new record for a recent sale in East Harlem.

Auction.com, a California-based e-bidding real estate site, oversaw the sale of 1700 Lexington Avenue, between East 106th and East 107th Streets, that wound up selling for $607 per square foot—a record for a one- to four-family home in the neighborhood, they boasted. Read More

Sales Beat

Food Importer Nabs Maspeth Industrial Building for $4M

54-36 48th Street in Maspeth.

A food importer has purchased a 16,000-square-foot industrial property in the Maspeth neighborhood of Queens for $4 million, Commercial Observer has learned.

The two-story building at 54-36 48th Street includes four commercial units: two warehouses and two offices. The property, which was built in 1989 and sits between 54th Road and 55th Avenue, was listed for $4.25 million. It sits on a 9,000-square-foot lot that is zoned for manufacturing. Read More

Sales Beat

312 Leonard Street Gets Highest Price East of B.Q.E.

312 Leonard east of the B.Q.E.

The sales record for the highest price per square foot for a Williamsburg property east of the Brooklyn-Queens Expressway was set earlier this month at 312 Leonard Street, Commercial Observer has learned. The property on the corner of Conselyea Street includes a 1,580 square foot restaurant, a 420-square foot two car garage and a 1,264 square foot apartment. It sold for $3.1 million ($950 per square foot).

“This was a mutually beneficial transaction in a highly desirable location,” said Peter Levitan of Lee & Associates NYC, in a prepared statement. The broker-owned company has 51 locations in the U.S. Read More

Sales Beat

Glendale, Queens Mixed-Use Property Sells for $9.18M

An aerial view of 79-40 Cooper Avenue, taken from Avison Young's promotional materials for the site.

A 94,000-square-foot property in the Glendale section of Queens has sold for $9.18 million to two different buyers, according to Avison Young, the brokerage firm that represented the seller and one of the buyers.

The property at 79-40 Cooper Avenue includes eight lots, a 50,000-square-foot industrial building, two attached residential buildings, two parking lots and vacant land spread over two acres. Read More

Sales Beat

ABJ Properties Buys Harlem Package for $7.5M

273 West 150th Street.

ABJ Properties, run by brothers Ben and Joe Soleimani, has purchased three Harlem properties for $7.5 million, the buyer told Commercial Observer.

ABJ bought the properties at 28 West 132nd Street, 3 West 137th Street and 273 West 150th Street on March 12 from Action Housing. They include 45 residential rent-stabilized units and two retail stores (a pharmacy and a beauty salon) on West 137th Street across from Harlem Hospital. All told the properties contain 40,000 square feet, Ben said. Read More

Sales Beat

Walter & Samuels Chairman Acquires Former Touro College Building for $24.5M

160-162 Lexington Avenue.

Walter & Samuels Chairman David I. Berley and some investors today purchased the Beaux-Arts Kips Bay home of Dover Street Market from Lexington Landmark Properties for $24.5 million, Commercial Observer has learned.

The seven-story, 22,000-square-foot building at 160-162 Lexington Avenue at East 30th Street has been solely occupied by Dover Street Market, a pricey multilevel fashion retail and concept store, since 2012 through a 15-year net lease, according to Cohen Real Estate‘s Rick Kaiser, who represented the buyer in the deal. Read More

Sales Beat

Thor Sells Bay Ridge Property to Zucker Organization for $5.7M

463 86th Street.

Family-owned real estate firm the Zucker Organization has purchased a fully occupied Bay Ridge property from Thor Equities for $5.7 million, Commercial Observer has learned.

“We continue to believe strongly in the Brooklyn retail market,” said Joseph Sitt, the chief executive officer of Thor Equities, in prepared remarks. “However, we felt the time was right to sell this strategically located property, after successfully implementing our business plan of improving a foreclosed-on building and replacing the below market tenant with a nationally recognized brand.” Read More

Sales Beat

Vornado Closes $142M Purchase of LIC Office Building

The Center Building at at 33-00 Northern Boulevard in Long Island City.

Vornado Realty Trust this afternoon closed its $142 million acquisition of the Center Building, an eight-story, 437,000-square-foot office building in Long Island City, Commercial Observer has learned.

The sellers of the building, at 33-00 Northern Boulevard, were Madison Marquette and Perella Weinberg, according to David Robinov, the managing director of sales at Ackman-Ziff Group, who represented the sellers along with Marc Warren, a managing director at the brokerage. The duo sourced the buyer as well. Read More

Sales Beat

Cammeby’s Buys 30 Park Avenue for $194M

30 Park Avenue.

In a mammoth multifamily transaction, Cammeby’s International Group led the purchase of a 20-story rental property at 30 Park Avenue from BlackRock and CalPERS for $194 million, Commercial Observer has learned

The real estate giant, run by Rubin Schron, borrowed $120 million from Ladder Capital to fund the purchase, a person familiar with the matter confirmed. Read More

Sales Beat

Urban American Sells Brooklyn, SI Portfolio For $236M

2425-2459 Nostrand Avenue.

After four rounds of bidding, Peter Rebenwurzel‘s Coney Realty Group and David Malek‘s Malek Management have purchased a 15-property residential rental portfolio from Urban American in a $236 million deal that closed last week, Commercial Observer has learned.

The primarily rent-stabilized multi-family properties span 1.5 million square feet and include 1,434 units, seven of which are in North Central Brooklyn, and another seven of which are in South Central Brooklyn. The portfolio also includes a garden apartment complex in the Oakwood section of Staten Island, according to Eastern Consolidated. Read More

Sales Beat

Amirian Group Buys Vacant West 21st Street Building With Condo Plans

117-119 West 21st Street.

David Amirian of The Amirian Group acquired a vacant, four-story building at 117-119 West 21st Street for $28.5 million in a deal brokered by Eastern Consolidated, Commercial Observer has learned.

The new owner plans to redevelop the brick-walled commercial building, located between Avenue of the Americas and Seventh Avenue, into luxury condominiums, according to several people involved. The site, which sits on the border of Chelsea and the Flatiron District, is comprised of 4,353 square feet of land and offers 44 feet of frontage. Read More

Sales Beat

Mixed-Use Building Sale Breaks Record in Dyker Heights

910 81st Street in Brooklyn.

A corner, mixed-use multifamily and retail property at 910 81st Street in Dyker Heights has sold for $8.9 million, Commercial Observer has learned. According to GFI Realty Services, a which represented the seller in the transaction, the sale was a neighborhood record, with a price of $182,000 per residential unit.

GFI Realty Investment Sales Associate Ben Katz represented the seller, a local family investor. Read More