ON STAGE: Recent sales in the middle market

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Highcap Group announced that Rodney Nassimian arranged the sale of a building plot located at 28-12 41st Ave in the North sub-area of ​​Queens Plaza in Long Island City in Queens, New York. The property, located one block from the Queensboro Bridge, sits on a 50 by 100 square meter lot, zoned M1-5 / R7-3, allowing for 25,000 square feet of construction. It has been family owned for over 40 years and was the first sale since the 1980s. Nassimian was able to negotiate a sale with a buyer who is active in the Long Island City market and successfully achieved a seller’s target price within a week. The sale price was $ 6,175,000, which equates to $ 247 per square foot of construction.

28-12 41st AVENUE

Ariel Real Estate Consultants arranged the $ 3.35 million sale of 109 East 9th Street, a five-story mixed-use building in the East Village. Located on the north side of East 9th Street between Third and Fourth Avenues, 6,260 two-story homes consist of 13 residential units and one vacant commercial unit that spans the entire first and basement as well as most of the second floor. The sale was organized by a team that included Victor Sozio, Michael Tortorichi, Howard Raeber, Matthew Gillies as well as Jack Moran. For approximately 70 years, the property was owned by a family who operated the retail space as a roaster and coffee distributor. This hotel was ultimately rented as a popular bar. The premise, equipped with two full bars, a fully equipped kitchen and five bathrooms, is in a turnkey condition. There are 13 residential units on the second, third and fourth floors. four of these units will be returned empty. The property has zoning C6-2A and a built-up area of ​​up to 15,083 square feet on the right. According to public figures, the buyers were Michael and Yuri Geylik from MGNY Consulting.

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TerraCRG announced the sale of a four-room mixed-use property at 329 Nostrand Avenue in Bedford Stuyvesant. Matthew Cosentino Represented the seller of MBH 329 Nostrand LLC. The property consists of three residential units and a commercial space on the ground floor. The buyer, Ahmed Kaid, purchased the building for $ 2,150,000, which corresponds to a capitalization rate of 5.3% at $ 515 per Swiss franc.

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Schuckman realty announced the sale of its sole tenant 7-Eleven facility at 65 Atlantic Avenue, Oceanside, NY. 7-Eleven has been operating at this location since 2006. The 3,000 square meter detached building is located on a 16,901 square meter lot at the intersection of Long Beach Road and Lincoln Avenue. Matt Colantonio as well as Edward Gottlieb represented the seller, longtime owner, who originally signed the 7-Eleven lease and brought in a local buyer. The price closed at $ 1,510,000.

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Marcus and Millicap announced the following sales:
• Five Guys & America’s Best, a 5,256-person net rental property located in Liverpool, NY, sold for $ 2,180,000. The buyer, a private investor, was provided and presented Daniel Reyhan as well as Matthew R. Peters… The deal was part of a 1031 swap in which the duo helped a buyer sell his eight-unit, rent-stabilized home in Brooklyn at a capitalization rate of less than 4% and in exchange for new construction, a three-level property operating above 6.5% yield. Five Guys & America’s Best is located at 3810 NY-31 in Liverpool, New York.
• 466 Myrtle Avenue, Brooklyn, 2,600 square meters of multi-purpose property sold for $ 2,460,000. Sean Rainey as well as Andrew Bronsteen represented the seller. The buyer used the exchange 1031 to increase leverage and buy his first property in Clinton Hill. The property consists of three complete units; one retail space and two three-room apartments. The building is located on a 1490 sq. M in the Clinton Hill area.
• 415 Bergen Street, a four-unit home in Park Slope, sold for $ 3,000,000. Jakub Novak as well as Jesse Kay represented both the seller and the buyer. 415 Bergen Street is an empty, four-story brownstone home that sold for $ 750 per square foot. The building has a total area of ​​4,900 rooms and is just steps from the Atlantic Avenue / Barclays Center trains. The property is zoned R6A, which allows for significant redevelopment opportunities.
• 147 Metropolitan Avenue, Brooklyn, 3,250 square meters of multipurpose property, sold for $ 3,900,000. Said Buhalfa represented the seller, Metro Kosher Frozen Desserts, Inc. The purchaser, physical / personal trust, was secured and represented by Buhalfa and Jesse Lemon. The property was valued at $ 1,200 per sq. Ft, which is $ 50,000 above the list price. The property was built in 1950 and consists of one commercial apartment and one attic apartment.
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1973 FOREST AVENUE

IN Boulder Group completed the sale of a leased Harley-Davidson land plot at 1973 Forest Avenue in Staten Island, New York for $ 5.55 million. 8299 s / f property is located on the northwest corner of Forest Avenue and Van Name Avenue. Harley-Davidson’s land lease is approximately 18 years. There are five renewal options for five years, with a 10 percent rent increase in each option. Harley-Davidson is an American motorcycle manufacturer founded in Milwaukee, Wisconsin in 1903. It is one of the two largest American motorcycle manufacturers to survive the Great Depression. Randy Blankstein as well as Jimmy Goodman the Boulder Group represented both parties to the transaction. The buyer was a New York-based developer and the seller was a New York-based real estate investor.

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Angel commerciaI announced that Thomas Luthi, owner of the Mosquito Squad franchise, has acquired the 240 Depot Road industrial condominium in Milford, Connecticut, 19,714 sq. The property was acquired from Irving Associates LLC in an OTC transaction. John Angel was the only broker in the deal. Mosquito Squad, with approximately 250 US subsidiaries and manufacturing facilities in Kenya and Indonesia, specializes in killing mosquitoes and ticks in outdoor living spaces. 240 Depot Road is less than 1 mile from I-95. Has one loading area and two entry doors.
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North-eastern group of private clients announced the sale of three apartment buildings in Connecticut. Bradley Balletto, Jeff Wright, Rich Edwards, Robert Paterno as well as John Lockhart represented the seller and provided the buyer in all three transactions:
• Atlantic Street Apartments, a 16-unit building located in Bridgeport, Connecticut, sold for $ 1,900,000, which equates to $ 118,750 per apartment. Atlantic Street Apartments are located on the beachfront, built in 1983.
• A multi-family portfolio of 14 apartments located in Greenwich, Connecticut, sold for $ 3,575,000. This equates to a unit price of $ 255,357. This portfolio consists of three properties, two located on North Water Street and the third on Beach Street.
• Fairfield Avenue Apartments, a 21-unit apartment building located in Norwalk, Connecticut, sold for $ 3,875,000. This equates to a unit price of $ 184,523. This hotel is in close proximity to Norwalk South and its entertainment, dining, shopping and public transportation options.

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Redwood Realty Consultants announced that Steve Matowski arranged the sale of two properties in Jersey City, New Jersey for an aggregate price of $ 3,950,000:
• Multi-family complex of two buildings and 17 apartments in McGinley Square, within walking distance of JSQ PATH and St. Peter’s University. Each of them has received significant capital investment over the past few years. The sale price was a record $ 232,000 per apartment for the district.

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SP Capital Group (SPCG) announced the closure of 2238 Valentine Avenue in the Fordham area of ​​the Bronx for $ 2,200,000. A 16-unit apartment building located between E182nd and E183rd Streets. Jess Pham, Roni Soleimani as well as Josh Pomerantz eased both parties to the transaction. The deals reached a maximum capital rate of 6.75% and $ 137,000 per unit. The seller was Bogdan Wisniewski, and the buyer was Soul Family. The buyer bought the property as Purchase 1031 and closed it within 45 days. The buyer plans to own the property for a long time.
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4636 SOMETRON ROAD

NAI James E. Hanson announced the following sales:
• Sale and partial lease of an 11-storey industrial campus with an area of ​​332,400 sq. M on 45.75 acres, located at 4636 Somerton Road in Trevose, Pennsylvania. Andrew Somple as well as Justin Allessio represented the seller, SUEZ Water Technologies and Solutions (WTS) USA. The buyer was JG Petrucci. As part of the agreement, SUEZ USA leased out 93 apartments to keep the headquarters in ownership. In addition, RLS USA, Inc., a former GE subsidiary, leases 20,000 square meters for research and development. A versatile campus of office, dedicated lab and storage facilities, 4636 Somerton Road boasts a strategic regional location in Bucks County, 15 miles from Philadelphia and 80 miles from New York City.
• A 114,500 square meter industrial building at 230 West Crescent Avenue in Allendale, New Jersey. Michael Walters represented the buyer, The Hampshire Companies, in the Allendale Borough deal. Walters will collaborate with Richard Van Houten of Van Houten Group to lease real estate. Centrally located between Garden State Parkway and Interstate 287, 230 W. Crescent Avenue has 102,000 square feet of storage space and 12,500 square feet of office space from downtown Allendale. In addition, the building boasts ceiling heights ranging from 18 to 22 feet, 19 rear gates, and three entrances. The borough of Allendale saw an opportunity to sell 230 W. Crescent Avenue to a leading institutional real estate investor and reallocate capital from the sale to fund municipal improvements. The Hampshire Companies will undertake a major renovation plan for the currently vacant property, which will include replacing its roof.

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