Commercial Sales |
Retail Leases |
Office Leases
Please submit deals to: deals@therealdeal.com
Please submit deals to: deals@therealdeal.com
| Address | Size Info | Buyer | Representative | Seller | Representative | Price | Notes | Issue |
|---|---|---|---|---|---|---|---|---|
| 505-513 West 43rd St map | Development site | Magna Hospitality Group | n/a | McSam Hotel Group | n/a | $42.0M | The 20,000-square-foot lot sold for $42 million. The property is the site of a planned 198-room budget hotel that is not due to be completed until mid-2009. |
April 2008 |
| 134 West 58th St map | 15-story apt. bldg | Benedict Properties | n/a | Samson Management | n/a | $39.0M | The corporate housing building sold for $39 million. |
April 2008 |
| 777 Washington St map | 4-story, 20,000 sf mixed-use bldg | n/a | n/a | n/a | n/a | $34.0M | The live-work photo studio sold for $34 million. The property, home to Albert M. Watson Photography, has a photo studio on the bottom two floors and bedrooms, a gym, library, terrace and roof deck on the top two floors. | April 2008 |
| 127-131 West 25th St map | 12-story, 89,000 sf mixed-use bldg | Real estate partnership | M. Meyer, E. Meyer, GVA Williams | The Lasser Family | M. Meyer, E. Meyer, GVA Williams | $32.0M | The prewar building sold for $32 million, or $300 per square foot. The buyers are planning major renovations for the property and hope to raise the asking rents to the $40-per-square-foot range from the mid-$20s. |
April 2008 |
| 408-410 Broadway map | 5-story, 60,600 sf comm. bldg | Vanick Properties | n/a | n/a | J. Epstein, C. Kingsley, Y. Oelsner, C&W | $29.0M | The office and storage building sold for $29 million. |
April 2008 |
| 6-12 Water St map | 5-story, 21,000 sf office bldg | McSam Hotel Group | n/a | n/a | n/a | $27.0M | The commercial property sold for $27 million. |
April 2008 |
| 431 West 33rd St map | Development site | McSam Hotel Group | n/a | Saxa Inc. | n/a | $24.0M | The 74,000-square-foot parking lot sold for $24 million. |
April 2008 |
| 3581 Broadway map | Development site | Columbia University | Cornerstone Group | Blockentire Associates | Vickers Realty | $20.0M | The single-story, 25,000-square-foot lot sold for $20 million. Columbia plans to build a 42-unit rent-to-own residential project for residents who will be displaced by its 17-acre expansion into Harlem. |
April 2008 |
| 176-182 West 82nd St map | Four 5-story apt. bldgs, 30,000 sf total | Navistone Amsterdam LLC | Barry Farchi, Itzhaki Properties | WexTrust Capital | Shay Zach, Itzhaki Properties | $19.0M | The four walk-up properties sold for $19 million, or $635 per buildable square foot. The residential package went on the market in spring 2007 for $16.5 million. WexTrust purchased the buildings for $12.28 million in February 2007 and had planned a condo conversion. Navistone plans to knock down walls in the buildings to combine smaller residential units into three- or four-bedroom units of up to 2,000 square feet. |
April 2008 |
| 15 Broad St (Downtown by Philippe Starck) map | Comm. condo | n/a | n/a | Boymelgreen Developers | n/a | $18.0M | The commercial unit sold for $18.62 million. | April 2008 |
| 65-67 Greene St map | Two 5-story mixed-use bldgs | Manhattan investor | n/a | n/a | Robert Burton, Massey Knakal | $15.0M | The contiguous loft buildings sold for $15.68 million, or $735 per square foot. The price represents a capitalization rate of 2.6 percent and a gross rent multiple of 28.8. The two properties combine for 21,321 square feet of space, with an additional 4,304 square feet of air rights. 65 Greene Street is an elevator building and 67 Greene Street is a walk-up building. |
April 2008 |
| 101 Ocean Pkwy and 2044 13th St (Brooklyn) map | Two 6-story apt. bldgs, 124,200 sf total | n/a | Erez Itzhaki, Itzhaki Properties | n/a | Barry Farchi, Itzhaki Properties | $13.0M | The residential package sold for $13.8 million. The two elevator buildings have a combined 108 units. |
April 2008 |
| 145-147 East 47th St map | 4-story, 8,980 sf retail bldg | Manhattan developer | n/a | n/a | C. Olsen, R. Knakal, Massey Knakal | $12.0M | The building sold for $12.95 million, or $322 per buildable square foot. The property has approximately 40,164 buildable square feet. |
April 2008 |
| 111 Mercer St map | 5-story, 11,332 sf office bldg | Mercer 111 LLC | J. Fishman, D. Alani, B. Segall, D. Aaron, RKF | Foreign owner | J. Fishman, D. Alani, B. Segall, D. Aaron, RKF | $12.0M | The vacant building sold for $12.35 million, or $1,090 per square foot. The property has been approved by the Landmarks Preservation Commission for a 1,250-square-foot penthouse addition, which would bring its total square footage to 12,582. |
April 2008 |
| 115-119 Norfolk St map | Development site | Brooklyn developer | Caitlin Hughes, Corcoran | n/a | M. DeCheser, B. Hanson, Massey Knakal | $10.0M | The 27,000-square-foot property sold for $10 million, or $370 per square foot. Plans are in place for a 24-unit luxury residential development, with 16 one-bedrooms, five two-bedrooms and three three-bedroom duplex penthouses. |
April 2008 |
| 71 Fourth Ave map | Development site | South American investors | Uri Zucker, Britz Realty | Elizabeth Kim | Uri Zucker, Britz Realty | $10.0M | The property sold for $10 million, or $566 per buildable square foot. The buyers are planning a boutique hotel for the site. |
April 2008 |
| 128 East 62nd St map | 6-story, 7,890 sf apt. bldg | n/a | n/a | n/a | G. Garvin, P. Massey, Massey Knakal | $6.0M | The co-op building sold for $6.9 million, or $875 per square foot. The price represents a gross rent multiple of 34.6. |
April 2008 |
| 647-53 West 174th St map | 30,000 sf apt. bldg, 40 units total | n/a | Randy Modell, ABS Realty Partners | n/a | S. Shkury, V. Sozio, Massey Knakal | $6.0M | The multifamily walk-up property sold for $6.8 million. The price represents a gross rent multiple of 11. |
April 2008 |
| 40-30 73rd St (Queens) map | 4-story, 29,000 sf apt. bldg, 48 units total | 73rd St. LLC | A. Polsinelli, C. Portelli, Besen & Associates | 40-30 73rd LLC | A. Polsinelli, C. Portelli, Besen & Associates | $5.0M | The walk-up property sold for $5.95 million. The price represents a capitalization rate of 5 percent and a gross rent multiple of 11.5. |
April 2008 |
| 1 and 45 Wild Ave (Staten Island) map | Development site | Hotelier | n/a | n/a | Matthew Giordano, Massey Knakal | $5.0M | The 134,282-square-foot property sold for $5.3 million, or $39 per square foot. |
April 2008 |
| 321 East 90th St map | 5-story, 9,375 sf apt. bldg | Brooklyn investor | Jim Marshall, Marfam Realty | n/a | Thomas Gammino, Massey Knakal | $3.0M | The walk-up property sold for $3.9 million, or $416 per square foot. The price represents a capitalization rate of 5.7 percent and a gross rent multiple of 11.2. The building has 16 one-bedrooms and two studios; 11 units are rent-stabilized, and seven are market-rate. |
April 2008 |
| 124-26 West 139th St map | 5-story apt. bldg, 30 units total | n/a | n/a | n/a | Massey Knakal | $3.0M | The multifamily walk-up property sold for $3.7 million. |
April 2008 |
| 660 Park Ave map | Comm. condo | Aerin Lauder Zinterhoffer | n/a | Dr. Paul M. Striker | n/a | $3.0M | The ground-floor commercial condominium sold for $3.65 million. |
April 2008 |
| 250 Adelphi St (Brooklyn) map | 4-story apt. bldg, 16 units total | n/a | n/a | n/a | A. Bromberg, Y. Edelkopf, Bluestone Realty Services | $3.0M | The walk-up property sold for $3.29 million, or approximately $200,000 per unit. The price represents a gross rent multiple of 14.6. |
April 2008 |
| 225-227 East 24th St map | 5,000 sf retail condo | Manhattan architect | Alan Nickman, Bellmarc West | n/a | John Ciraulo, Massey Knakal | $2.0M | The street-level commercial space sold for $2.65 million, or $530 per square foot. The unit contains approximately 3,075 square feet on the ground floor and 1,925 square feet in the cellar. |
April 2008 |
| 89-10 Jamaica Ave (Queens) map | 7,780 sf retail bldg | Manhattan investor | n/a | n/a | Stephen Preuss, Massey Knakal | $2.0M | The single-story commercial property sold for $2.4 million, or $308 per square foot. The price represents a capitalization rate of 5.8 percent and a gross rent multiple of 17.1. The building is triple-net leased by Rite Aid through 2016, with four additional five-year lease renewal options. |
April 2008 |
| 175 North 10th St (Brooklyn) map | Development site | Brooklyn developer | n/a | n/a | Mark Lively, Massey Knakal | $2.0M | The warehouse sold for $2.35 million, or $174 per buildable square foot. The zoning allows for approximately 13,500 buildable square feet; 10,000 square feet can be designated for commercial use. |
April 2008 |
| 346 East 173rd St (The Bronx) map | 5-story, 19,000 sf mixed-use bldg | Manhattan investors | n/a | n/a | D. Canning, S. Shkury, Massey Knakal | $2.0M | The walk-up property sold for $2 million, or $105 per square foot. The building has 20 residential units and three commercial units. The site is zoned for approximately 26,518 square feet of air rights. |
April 2008 |
| 757 Nostrand Ave (Brooklyn) map | 6,183 sf mixed-use bldg | n/a | Matt Fotis, Marcus & Millichap | n/a | Matt Fotis, Marcus & Millichap | $1.0M | The property sold for $1.66 million, or $268 per square foot. The price represents a capitalization rate of 2 percent. The building was delivered 95 percent vacant. |
April 2008 |
| 3857-3861 Third Ave (The Bronx) map | Development site | Manhattan developer | n/a | n/a | David Canning, Massey Knakal | $1.0M | The vacant site sold for $1.4 million, or $39 per buildable square foot. The property has approximately 36,858 buildable square feet. The buyer plans to build housing on the site. |
April 2008 |
| 89 Douglass St (Brooklyn) map | 4,300 sf apt. bldg, 7 units total | Manhattan user | Nick Arnold, Corcoran | n/a | Ken Freeman, Massey Knakal | $1.0M | The walk-up property sold for $1.4 million, or $326 per square foot. The price represents a capitalization rate of 5.1 percent and a gross rent multiple of 13.5. Four units are rent-stabilized, two are rent-controlled and two are free-market. The property has an additional 1,200 square feet of air rights. |
April 2008 |
| 411 Myrtle Ave (Brooklyn) map | 4-story, 4,000 sf mixed-use bldg | Brooklyn investor | n/a | n/a | Michael Annunziata, Massey Knakal | $1.0M | The property sold for $1.32 million, or $330 per square foot. The building contains two one-bedrooms and one two-bedroom on floors two through four. The ground-floor retail space is occupied, but the lease is due to expire by mid-2008. |
April 2008 |
| Manhattan, Queens and Bronx portfolio map | 9 apt. bldgs | Northbrook Partners | n/a | AVJ Realty | n/a | $300.0M | The portfolio sold for more than $300 million. The properties include 98 Riverside Drive, 340 East 52nd Street, 56 Seventh Avenue and some condos at 172 West 79th Street. Also included in the deal were 185 Claremont Avenue in the Bronx and 105-05 69th Avenue in Queens. | March 2008 |
| 450 West 16th St map | 8-story, 286,000 sf industrial bldg | Stellar Management | n/a | n/a | n/a | $161.0M | The property sold for $161 million. The building is home to Milk Studios. | March 2008 |
| 180 Madison Ave map | 275,000 sf office bldg | The Claret Group; Prudential | n/a | Sitt Asset Management | Douglas Harmon, Eastdil Secured | $150.0M | The property sold for $150 million, or $540 per square foot. The seller acquired the building four years ago for $91.5 million. | March 2008 |
| 1199 First Ave map | 21-story, 195,000 sf apt. bldg | Stonehenge Partners | n/a | Broadway Management Co. | n/a | $126.0M | The property sold for $126 million. The building has 159 residential units and 13,500 square feet of retail space. Stores include LensCrafters, Duane Reade, Ricky’s and Maya Restaurant. The buyer will rename the tower Stonehenge 65th and renovate its lobby and hallways. | March 2008 |
| 511-519, 521-539 and 541-543 West 25th St map | 3 mixed-use bldgs | Halcyon Real Estate Investors; Cardinal Real Estate Investment | S. Siegel, A. Weisman, Grubb & Ellis | 511 W. 25th Street Corp. | S. Siegel, A. Weisman, Grubb & Ellis | $97.0M | The package of offices, storage and galleries sold for $97.5 million. | March 2008 |
| 600 Broadway map | 6-story office bldg | Alex Adjimi | n/a | Enterprise Asset Management | n/a | $71.0M | The commercial property closed for $71 million, or more than $1,000 per square foot. The ground-floor retail space is occupied by Pottery Barn. | March 2008 |
| 156 William St map | 250,000 sf office bldg | Capstone Equities | Georgia Malone & Company | AFIAA | Represented in-house | $60.0M | The property sold for $60 million, or $240 per square foot. The seller acquired the building more than two years ago for $40.75 million. | March 2008 |
| 16 West 57th St map | 5-story office bldg | n/a | Ivan Hakimian, Itzhaki Properties | n/a | Ofer Cohen, Itzhaki Properties | $60.0M | The property sold for $60 million. The building has additional air rights and could accommodate a boutique hotel development. | March 2008 |
| 318 East 15th St (Booth House) map | 130,000 sf apt. bldg, 148 units total | Arun Bhatia Development Corp. | n/a | New York Downtown Hospital | C&W | $56.0M | The property sold for $56 million. | March 2008 |
| 5 Beekman St map | 10-story, 128,220 sf office bldg | Bonjour Capital; Joseph Chetrit | Michael Wahba, United Equity Investments | Cammeby’s International | Michael Wahba, United Equity Investments | $50.0M | The landmarked prewar building reportedly went into contract for upwards of $50 million. The buyer plans to convert the property into a hotel. | March 2008 |
| 37-18 Northern Blvd (Queens) map | 6-story, 300,000 sf office bldg | EX 11 Northern Boulevard Acquisition | D. Baio, D. Junik, G. Blum, Greiner-Maltz | Standard Motor Products | D. Maltz, J. Maltz, Greiner-Maltz | $40.0M | SMP’s corporate headquarters went into contract for a sale-leaseback valued at $40.6 million. The property will be redeveloped for multiple loft-style commercial tenancy and ground-floor retail. The seller’s requirements for the deal included continued occupancy of up to a 30-year leaseback, in-building dining service and enhanced security. | March 2008 |
| 155 Fifth Ave map | 7-story, 32,500 sf office bldg | The Eretz Group | n/a | Philips International Holding Corp. | n/a | $38.0M | The building sold for $38 million. The seller purchased the property in July 2007 from the United Synagogue of Conservative Judaism for $26.5 million. | March 2008 |
| Lafayette Ave and Tiffany St (The Bronx) map | 400,000 sf industrial complex | Taconic Investment Partners; Denham Wolf Real Estate; Credit Suisse | n/a | The Blauner Family | n/a | $32.0M | The former American Bank Note Building sold for $32 million, or $70 per square foot. The joint venture plans to convert the 96-year-old, three-building complex into an office center for arts organizations, design firms and nonprofits. A retail food market is also planned. The New York City Investment Fund and i-Star Financial provided financing. The Landmarks Preservation Commission recently designated the property a landmark. | March 2008 |
| 325 West 33rd St map | Development site | Hotel developer | M. Ezratty, R. Ortiz, Eastern Consolidated | Glad Tidings Tabernacle | Karen Dome, Justdan Realty | $31.0M | The three-story church property sold for $31 million. A 95,000-square-foot, 250-room hotel is planned for the site. The owner was able to secure an additional 20,000 square feet of air rights through a city-operated District Improvement Fund Bonus. | March 2008 |
| 530-542 West 27th St map | 6-story comm. bldg | Centaur Properties | n/a | Rob Wootton | n/a | $29.0M | The former home of the nightclub BED sold for $29.4 million. The club closed in February 2007. | March 2008 |
| 1343-1347 Second Ave and 242 East 71st St map | Four 5-story mixed-use bldgs | n/a | D. Gutoff, A. Aghravi, Eastern Consolidated | Estate of Dr. Manuel Stapen | D. Gutoff, M. Ezratty, Eastern Consolidated | $27.0M | The residential package of 50 apartments and eight stores sold for $27.5 million. The average rent at the properties is $1,237, or $34 per square foot. The property sold with 48,975 square feet of additional air rights, which can support an 82,120-square-foot development with 16,424 square feet of commercial space. | March 2008 |
| 113 Jane St (Hotel Riverview) map | 5-story, 43,618 sf hotel | Sean MacPherson; Eric Goode | n/a | n/a | n/a | $27.0M | The hotel sold for $27 million. The buyers plan to restore and revamp the landmark hotel with a first-floor bar, second-floor restaurant and a rooftop bar terrace. | March 2008 |
| 553 11th Ave map | Vacant lot | The Moinian Group | n/a | ExxonMobil | n/a | $24.0M | The former site of a gas station sold for $24.5 million. The property is next door to the buyer’s 46-story, 478-unit Atelier condominium at 627 West 42nd Street. | March 2008 |
| Bronx portfolio map | 6 mixed-use bldgs | n/a | Eastern Consolidated | Intervest Development | Eastern Consolidated | $24.0M | The properties sold for $24.5 million. The portfolio includes 2195 Grand Concourse, 117 Kingsbridge Road, 25 Gunhill Road and 2424 East Tremont Avenue. The buildings combine for 179 residential units and 30 commercial units. | March 2008 |
| 435 West 33rd St map | Development site | Long Island hotelier | n/a | n/a | Robert Knakal, Massey Knakal | $24.0M | The property sold for $24 million, or $324 per buildable square foot. The site can support 96,281 buildable square feet if the developer purchases an additional 22,219 square feet of air rights from the city. | March 2008 |
| 340 East 23rd St (Gramercy by Starck) map | 13,850 sf retail condo | Omnispective Management Corp. | Roberto Ortiz, Eastern Consolidated | n/a | E. Lee, A. Miller, Eastern Consolidated | $22.0M | The commercial unit at the Philippe Starck-designed tower sold for $22.2 million. The retail space is triple-net leased to CVS Pharmacy for 25 years plus options. Sales at the 207-unit residential tower launched in May 2007, and the building is nearly complete. | March 2008 |
| 580 Union Ave (Brooklyn) map | Development site | Heather Wood Properties | n/a | McCarren Park | Bob Klein, Kalmon Dolgin Affiliates | $20.0M | The 35,000-square-foot parcel sold for $20 million. A 100,000-square-foot luxury rental building has been proposed for the site. | March 2008 |
| 8 Stone St map | Development site | Sam Chang | Howard Greenberg, DeMarzo Realty | Rockrose Development Corp. | n/a | $17.0M | The parking facility sold for $17 million. | March 2008 |
| 49-53 Ann St map | Development site | The Lam Group | Jae Choi, GFI Realty | Bennedetto and Nessim Tammam | Jae Choi, GFI Realty | $13.0M | The 15,500-square-foot vacant property sold for $13.15 million. The buyer is planning a hotel for the site, which has a maximum buildable area of 45,800 square feet. | March 2008 |
| 122 Spring St map | 5,200 sf store | n/a | D. Glaser, S. Schneider, Eastern Consolidated | n/a | E. Anton, R. Solarz, Eastern Consolidated | $12.0M | The John Varvatos store sold for $12.5 million. | March 2008 |
| 330 East 73rd St and 309 East 93rd St map | Two 5-story apt. bldgs, 30 units total | Carlton Management | Wells Newell, Reilly Mann Newell Realty Group | Norstan Associates | Wells Newell, Reilly Mann Newell Realty Group | $10.0M | The two properties sold for $10 million, or $530 per square foot. The price represents a capitalization rate of 4 percent and a gross rent multiple of 15. The average rent at the buildings is approximately $1,700 per month. | March 2008 |
| 653 10th Ave map | 2-story, 11,500 sf bldg | n/a | n/a | Clinton Recording Studios | n/a | $9.0M | The historic recording studio sold for $9.8 million. | March 2008 |
| 86 University Place map | 5-story, 7,365 sf mixed-use bldg | New Jersey investor | Jared Lustbader, Hub Realty | n/a | James Nelson, Massey Knakal | $9.0M | The walk-up property sold for $9.2 million, or $1,249 per square foot. The price represents a capitalization rate of 4.8 percent and a gross rent multiple of 17.1. The building consists of a Mexican restaurant on the ground, first and second floors and four fair-market apartments on floors two through five. The buyer can also tap into 6,933 square feet of unused air rights. | March 2008 |
| 3868 Broadway map | 6-story, 45,023 sf mixed-use bldg | SDG Management Corp. | n/a | 3868 Broadway Realty | W. Newell, J. Mann, Reilly Mann Newell Realty Group | $9.0M | The elevator building sold for $9.1 million, or $152 per square foot. The property consists of 37 apartments and seven stores. The seller had owned the building since 1985. | March 2008 |
| 1532 and 1609 Ocean Ave (Brooklyn) map | 2 apt. bldgs, 85,000 sf total | n/a | Shulem Paneth, GFI Realty | n/a | n/a | $7.0M | The pair of four-story walk-up buildings sold for $7.5 million. The price represents a gross rent multiple of 9.3. Both properties are rent-stabilized and consist of 74 units total. | March 2008 |
| 125 Maiden Lane map | 13,844 sf office condo | HRC Partners | S. Sloves, G. Chatzopoulos, CBRE | n/a | Michael Rudder, Time Equities | $6.0M | The commercial condo sold for nearly $6.3 million. | March 2008 |
| 555 West 125th St map | 10,800 sf retail bldg | Columbia University | n/a | Vickers Realty | n/a | $6.0M | The commercial property sold for $6.25 million. | March 2008 |
| 93-23 218th St (Queens) map | 4-story, 45,760 sf apt. bldg, 47 units total | n/a | Joshua Zellner, Zellner Realty Corp. | n/a | Joshua Zellner, Zellner Realty Corp. | $5.0M | The property sold for $5.83 million, or $127 per square foot. The price represents a capitalization rate of 5.2 percent and a gross rent multiple of 12. The average rent at the building is approximately $813 per month. | March 2008 |
| 507 West 20th St map | Development site | Avalon Bay Communities | Yaron Zohar, Zohar Properties | n/a | Yaron Zohar, Zohar Properties | $5.0M | The property’s air rights sold for $5.77 million, or $250 per square foot. | March 2008 |
| 53 West 88th St map | 5-story apt. bldg, 10 units total | Manhattan family | Rick Prestfelder, Leslie J. Garfield | n/a | M. Ferguson, R. Knakal, Massey Knakal | $4.0M | The property sold for $4 million, or $630 per square foot. The building is currently configured as 10 units, with nine one-bedrooms and one studio. The buyer plans to convert the property into a single-family townhouse. | March 2008 |
| 3730 and 3750 Bronx Blvd (The Bronx) map | 6-story, 43,085 sf apt. bldg | Bronx investor | n/a | n/a | Marco Lala, Massey Knakal | $3.0M | The elevator building sold for $3.85 million, or $89 per square foot. The price represents a capitalization rate of 5.65 percent and a gross rent multiple of 8.4. The property consists of 43 residential units and 33 parking spaces. | March 2008 |
| 310 East 149th St (The Bronx) map | Development site | Atlantic Development | Peter Cokin, NAI Friedland | n/a | n/a | $3.0M | The 4,300-square-foot property sold for $3.5 million. The buyer previously purchased two adjacent buildings with plans for a mixed-use complex on the site. | March 2008 |
| 319 East 90th St map | 5-story apt. bldg, 20 units total | The Vintage Group | n/a | n/a | B. Reilly, J. Mann, Reilly Mann Newell Realty Group | $3.0M | The walk-up property sold for $3.1 million, or $467 per square foot. The price represents a capitalization rate of 4 percent and a gross rent multiple of 14. The average rent at the building is approximately $1,150 per month. | March 2008 |
| 38-65 12th St (Queens) map | 2-story, 5,500 sf industrial bldg | Queens user | n/a | n/a | Alfonso Holloman, Massey Knakal | $2.0M | The property sold for $2.3 million, or $271 per square foot. The first floor consists of warehouse space; the second floor mezzanine is comprised of office space and storage. The site supports up to 29,000 square feet of additional air rights. | March 2008 |
| 288 Mulberry St map | 3-story, 3,320 sf apt. bldg | Manhattan investor | n/a | n/a | M. DeCheser, R. Burton, Massey Knakal | $2.0M | The walk-up property sold for $2.17 million, or $652 per square foot. The lower level is vacant; the first floor is occupied by a rent-controlled tenant who pays $58 a month and has been there 65 years; and the second- and third-floor tenants each pay $1,570 per month. | March 2008 |
| 1663 Cody Ave (Queens) map | 14,900 sf industrial bldg | Queens user | Natalie Hurwitz, Sholom & Zuckerbrot | n/a | J. Falco, T. Donovan, Massey Knakal | $2.0M | The warehouse sold for $2.15 million, or $144 per square foot. The property has approximately 24,896 square feet of air rights. | March 2008 |
| 1737 East 21st St (Brooklyn) map | Development site | Brooklyn developer | n/a | n/a | Kevin Clark, Massey Knakal | $2.0M | The property sold for $2.05 million, or $86 per buildable square foot. The site is currently configured for 24,000 buildable square feet. | March 2008 |
| 2569 Ocean Ave (Brooklyn) map | 5,500 sf retail condo | Brooklyn investor | n/a | n/a | Kevin Clark, Massey Knakal | $2.0M | The commercial space sold for $2 million, or $364 per square foot. | March 2008 |
| 319 Jefferson St and 420 Melrose St (Brooklyn) map | 2 apt. bldgs, 16 units total | n/a | Zach Felson, Marcus & Millichap | n/a | Zach Felson, Marcus & Millichap | $1.0M | The pair of multifamily properties sold for $1.58 million, or $121 per square foot. The price represents a gross rent multiple of 10. | March 2008 |
| 178 Nassau Ave (Brooklyn) map | 4-story, 6,000 sf mixed-use bldg | n/a | S. Boukhalfa, Z. Felson, Marcus & Millichap | n/a | S. Boukhalfa, Z. Felson, Marcus & Millichap | $1.0M | The building sold for $1.5 million, or $297 per square foot. The price represents a capitalization rate of 8.7 percent. The property has two stores and four apartments. | March 2008 |
| 437 Clermont Ave (Brooklyn) map | 4-story, 3,015 sf apt. bldg | n/a | n/a | n/a | Michael Annunziata, Massey Knakal | $1.0M | The multifamily brownstone sold for $1.3 million, or $431 per square foot. The price represents a capitalization rate of 4.8 percent and a gross rent multiple of 15.1. | March 2008 |
| 62 Thomas St map | 12,000 sf retail condo | Zar Property NY | n/a | n/a | n/a | n/a | The site of Japanese eatery Megu sold for an undisclosed price. | March 2008 |
| 442 West 36th St map | 15-story, 20,344 sf hotel | Gemini Real Estate Advisors | n/a | n/a | n/a | n/a | The 56-room hotel sold for an undisclosed price. | March 2008 |
| 100 William St map | 21-story, 400,000 sf office bldg | Mitsui Fudosan America Inc. | n/a | Lighthouse Real Estate Ventures | CBRE | $180.0M | The property sold for $180 million. The seller purchased the building, together with Cargill Financial Services, for $45 million in 1999.The property is currently more than 90 percent leased. | February 2008 |
| 28 East 10th St (Devonshire House) map | 131-unit apt. bldg | Sterling American Properties subsidiary | E. Anton, R. Solarz, D. Gutoff, Eastern Consolidated | n/a | E. Anton, R. Solarz, D. Glaser, S. Schneider, Eastern Consolidated | $110.0M | The Emery Roth-designed property sold for $110 million. The seller was a family that owned the building since the 1940s. | February 2008 |
| 415 West 51st St map | Development site | Tessler Development | n/a | St. Vincent Catholic Medical Centers | n/a | $84.0M | The two-building hospital site sold for $84.7 million. The buyer plans to renovate the property for residential use. | February 2008 |
| 700 Broadway map | 100,000 sf office bldg | Jared Kushner | n/a | Lincoln Property Co. | C&W | $80.0M | The former headquarters of the National Audubon Society sold for $80 million. The seller purchased the building in 2006 for $53 million. The Society is relocating its offices to 225 Varick Street. | February 2008 |
| 396 Broadway map | 10-story, 61,219 sf office bldg | Spanish real estate fund | D. Behunic, DMB Capital Realty Advisors; Petar Vided, A&I Realty | Isaac Chetrit | David Barrette, Cast Iron Real Estate | $40.0M | The property went into contract for $40 million, or $653 per square foot. The buyers can build a 100-room hotel at the site. | February 2008 |
| 305 East 61st St (Cirker’s Hayes Storage Warehouse) map | 10-story, 65,000 sf warehouse | The Chelsea Development Group | n/a | n/a | n/a | $28.0M | The property sold for $28 million. | February 2008 |
| 35 West 36th St map | 12-story, 78,000 sf office bldg | Hidrock Realty; Assurant Inc. | n/a | Douglaston Equities | n/a | $28.0M | The commercial property sold to the joint venture for $28 million. The buyers plan to upgrade and renovate the building. | February 2008 |
| Manhattan portfolio map | 4 apt. bldgs, 75 units total | n/a | Marcia Yawitz, Eastern Consolidated | Nyre Management | Azita Aghravi, Eastern Consolidated | $24.0M | The package of three walk-up properties and one elevator building sold for $24.4 million. The buildings are located at 331, 333, 335 and 337 West 43rd Street. The price represents a gross rent multiple of 16. | February 2008 |
| 264 Water St map | 8-story, 41,278 sf apt. bldg | Manhattan investor | n/a | n/a | Michael DeCheser, Massey Knakal | $22.0M | The elevator loft building sold for $22 million, or $533 per square foot. The price represents a capitalization rate of 3.8 percent and a gross rent multiple of 17.2. The property consists of 27 luxury apartments ranging in size from 910 to 1,860 square feet. | February 2008 |
| 167-177 Lafayette St map | 6-story, 35,287 sf mixed-use bldg | Eretz Group | n/a | Edwin Bass | Eastern Consolidated | $21.0M | The property sold for $21 million. The new owners plan to gut the century-old building, which has about 5,500 square feet of retail on the bottom floors. Rents are likely to fetch $50 or more per square foot after the renovations are completed. | February 2008 |
| 554-558 West 181st St map | Two 5-story apt. bldgs | Local investor | Nicole Carra, NLC Realty | n/a | Nicole Carra, NLC Realty | $17.0M | The contiguous walk-up properties sold for $17.25 million. The buildings combine for 38 apartments and seven stores. The buyer plans to upgrade the apartments. | February 2008 |
| 230 East 44th St map | 14-story, 135,315 sf mixed-use bldg | n/a | n/a | n/a | S. Bands, P. Von Der Ahe, Marcus & Millichap | $16.0M | The leasehold position sold for $16.2 million, or $120 per square foot. The property consists of 164 multifamily units and four commercial units. It also includes a 100-plus car garage. The price represents a gross rent multiple of seven. | February 2008 |
| 34 Berry St (Brooklyn) map | 37,700 sf industrial bldg | LCOR Inc. | n/a | The Sharon family | n/a | $15.0M | The century-old property sold for $15.8 million to the Pennsylvania-based developer. The building is zoned for a maximum buildable area of 108,000 square feet. | February 2008 |
| 470 Broadway map | 7,000 sf retail bldg | Thor Equities | Z. Mishaan, A. Dweck, Winick Realty Group | Dan Aizer | Zach Mishaan, Winick Realty Group | $15.0M | The commercial property sold for $15.5 million. The retail space will likely be occupied by a designer apparel store. | February 2008 |
| 352 Riverside Dr map | 5-story, 9,083 sf townhouse | Helen LaKelly Hunt | n/a | James B. Rogers Jr. | n/a | $15.0M | The property sold for $15 million. The townhouse, designed in 1899 by architect Robert D. Kohn, has original details such as a wide baronial staircase and eight fireplaces. | February 2008 |
| 62-64 East 34th St map | 5-story, 17,180 sf apt. bldg | n/a | Laurence Roberts, Arch Brokerage Ltd. | n/a | John Ciraulo, Massey Knakal | $13.0M | The elevator building sold for $13.5 million, or $786 per square foot. The price represents a capitalization rate of 3.2 percent and a gross rent multiple of 22.1. The property consists of two stores on the ground floor, office space on the second floor, and rent-stabilized apartments and eight free-market apartments on the upper floors. | February 2008 |
| 506-10 West 181st St map | 4-story, 26,264 sf mixed-use bldg | MICL LLC | n/a | 506-10 West 181 Street LLC | H. Greenberg, V. DiCarlo, DeMarzo Realty | $11.0M | The freestanding garage building sold for $11.5 million. The sale occurred on the final day of the buyer’s 1031 exchange period. | February 2008 |
| Manhattan portfolio map | 4 apt. bldgs, 78,331 sf total | Queens investor | n/a | n/a | M. Lala, S. Shkury, Massey Knakal | $11.0M | The portfolio sold for $11.1 million, or $142 per square foot. The price represents a capitalization rate of 4.9 percent and a gross rent multiple of 12.9. The properties are located at 201, 203-205, 217 and 233 West 111th Street. The buildings combine for 87 units, including eight studios, 29 one-bedrooms, 24 two-bedrooms and 26 three-bedrooms. | February 2008 |
| 601 East 82nd St map | 20-story, 296,940 sf mixed-use bldg | Simon Elias | n/a | Alexander Goren | n/a | $11.0M | The property sold for $11 million. | February 2008 |
| 516 East 14th St map | 1-story, 10,330 sf retail bldg | East 14th Lighthouse LLC | n/a | John Catsimatidis | n/a | $10.0M | The commercial property sold for $10.5 million. It is zoned for four stories and 41,612 buildable square feet. The buyer already owns neighboring properties at 512, 510 and 504 East 14th Street. | February 2008 |
