ON STAGE: Recent sales in the middle market

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JOSH GOLDFLAM

Highcap Group announced that Josh Goldflam, co-founder and CEO, and senior broker Charles Chang, arranged for the sale of 33 and 35 Howard Streets (pictured above) in Soho for $ 11.2 million in cash. The seller was the Spitzer family, who owned the property for 45 years, and the buyer was homeowner and developer Javeri Capital. The property is located on the south side of Howard Street, between Broadway and Crosby Streets. The two buildings have a 50-foot facade adjacent to the intersection of Crosby Street with a total area of ​​16,000 square meters and additional air rights for future construction. 33 Howard has three floors for commercial and retail use. 35 Howard was used as a retail and commercial on the 2 lower floors and has three residential full lofts on floors 3 through 5. The buildings are best known for being the former home of the popular clothing retail chain Opening Ceremony, which occupied the entire building at 33 Howard and the two lower floors at 35 Howard for nearly two decades. The commercial and commercial parts of both buildings were rented out to the new buyer. The three upper residential floors at 35 Howard remain occupied.

STREET 16-YA, 395

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Bestreich Realty Group (BRG) announced the closure of 395 16th Street in Park Slope, Brooklyn for $ 1,950,000. The three-room apartment building is located between 7th and 8th avenues. Its dimensions are 19 feet by 50 feet and the batch sizes are 19 feet by 100 feet. It costs 2850 psi at $ 684 per square foot. It is located in R6B zone with FAR 2.0 and tax class 1. The seller is 395 16th St LLC and the buyers are 16th Street Holdings LLC. Derek Bestreich, Luc Sproviero, Adam Lobel, Toby Waring, Gabriel Cates, as well as Daniel Shawah eased both parties to the transaction.

KEVIN SCHMITZ

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Cushman & wakefield announced the sale of four properties in Queens. The property with a total area of ​​44,222 square meters was sold for a total of $ 11.05 million. Kevin Schmitz, Kevin Louis, Andreas Efthymiou, Eric Roth, Charlie Dupont as well as Tyler Signora represented the different sellers of each property.
• 177-02 / 06 Jamaica Avenue, Jamaica, Queens. Kevin Schmitz organized the sale of a block warehouse with a redevelopment option for $ 3.4 million. Situated on six contiguous lots on Jamaica Avenue and 177th and 178th Streets, the property currently contains 16,533 square meters of one-story warehouse space and 1,934 square meters of living space. The site allows for up to 40,000 square feet of development with redevelopment potential.
• 233-02 / 10 Merrick Boulevard, Laurelton, Queens. Kevin Schmitz, Kevin Louis as well as Charlie Dupont closed the deal for $ 3.4 million. A one-story fully leased corner shopping strip with an area of ​​6,500 sq. M. Includes an attached parking lot with parking on the territory for eight cars. The building has recently been renovated.
• 84-43 120th Street, Kew Gardens, Queens. Kevin Schmitz arranged a sale for $ 2.65 million. This is the first time the 80-year-old building has changed ownership. In an apartment building 16645 s / f – 15 apartments and a garage for seven cars.
• 37-08 31st Avenue, Astoria, Queens. Andreas Efthymiou, Eric Roth as well as Tyler Signora represented the seller. The mixed-use lot, located between 38th and 37th Streets, sold for $ 1.6 million. The site is 7,830 square feet with a 26-foot façade along 31st Avenue and close proximity to the Steinway Street M and R subway lines.

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Cushman & wakefield announced the sale of 44 Old Ridgebury Road, a Class A class A office building of 126,000 sq. m in Danbury, Connecticut, for $ 11.5 million. Al Mirin, Matt Torrance as well as Kate Schwartz represented a seller affiliated with Allegiance Realty Corporation. The property was acquired by MSM Equities, a private investment and management company. Allegiance Realty acquired this asset in 2010 and repurposed an aging single-tenant office building, subsequently signing over 110,000 sq. Feet lease. The four-story building is now home to a variety of tenants, including General Motors, Energizer Holdings, Promontory MortgagePath, and Chipman Mazzucco Emmerson.

Ohad Babo

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GFI Realty Services announced the sale of Timberline Apartments, known as 5900 Kinkead Avenue, 307 apartments located in Fort Smith, Arkansas, for $ 9.375 million. Ohad Babo as well as Eli Meryl advised the seller and the buyer. The property, with a total area of ​​166,329 square feet, consists of one, two and three bedroom apartments and has 650 parking spaces. The hotel has numerous public facilities including a basketball court, tennis court and clubhouse. The buyer is a local investor from New York who intends to preserve the asset for a long time and invest in major renovations.

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Schuckman realty announced the sale of 2131 Nostrand Ave., located between Flatbush Avenue and Glenwood Road near Triangle Junction in Brooklyn. Three-storey multifunctional building with an area of ​​4200 sq. M. Offers Optimum as a tenant on the first floor, a vacant office and two residential blocks on the second and third floors. Baruch Edelkopf, Ari Malul as well as Matt Colantonio represented the Infinity Collective seller. Stephen Khakakian purchased by the buyer. The property was eventually sold for $ 2,300,000 or £ 547.

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Marcus and Millicap announced the sale of 125 and 127 Webster Avenue, a 12-unit apartment building located in Kensington, Brooklyn, for $ 1,900,000. John Brennan as well as Samuel Finkler represented the seller and provided the buyer. The package traded at a capitalization rate of 4.7% after being owned by the same family for several decades. The two six-storey apartment buildings consist of 12 apartments, which have 10 two-bedroom apartments and two one-bedroom apartments.

DAN MARX

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TerraCRG announced the sale of an industrial building at 189 First Street in Govanus. Dan Marks, Daniel Lebor and Adam Tannenbaum, together with Jakub Novak, Jake Torre of Marcus and Millicap as well as Thomas Cordasco arranged a deal. The premises, located within the proposed Govanus Rezoning Zone, were purchased by a commercial user wishing to continue working in the area. ABC Collision, a body shop that has been in the area for over 20 years, acquired the property from Advanced JAF Holding, LLC for $ 3,748,500, which equates to $ 561 per square foot.
• The 4-unit property at 234 Stuyvesant Avenue in Bedford Stuyvesant sold for $ 1.75 million, reflecting a 6% capitalization rate at £ 318 per square foot. Matt Cosentino as well as Isaiah Thomas represented the seller in an off-market transaction. The well maintained 5,200 sqm property includes three residential buildings, one retail store and two garages. Eden Ashurzade INK Property Group acquired real estate.

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