NEW YORK CITY — Thor Equities has acquired a residential building located at 98 Morningside Ave. in Harlem for an undisclosed price. Situated near Columbia University’s campus in Morningside Heights, the seven-story building features 48 rental units. Additional details of the acquisition were not released.
NEW YORK CITY — Eastern Consolidated had brokered the sale of a vacant commercial building, located at 117-119 West 21st St. in the Chelsea/Flatiron district. The Amirian Group acquired the property for $28.5 million. The buyer plans to redevelop the four-story commercial building, which has 38,612 square feet of buildable space, into a residential building featuring one townhouse triplex unit, six full-floor units and two duplex penthouses. Amenities for the new development will include a doorman, storage and five on-site parking spots. Brian Ezratty of Eastern Consolidated represented the seller and procured the buyer in the deal. Manish Majithia of Eastern Consolidated facilitated the equity for the buyer. Richard Horowitz of Cooper Horowitz brokered the acquisition and construction financing. Andrew Albstein and Rob Loshiavo of Goldberg, Weprin, Finkel, Goldstein were the attorneys for the seller, while Matt Kasindorf and David Moss of Meister Seelig & Fein served as legal counsel for The Amirian Group.
NEW YORK CITY AND MOUNT VERNON, N.Y. — Ariel Property Advisors has brokered the sales of two properties located in New York. In the first transaction, Post Graduate Center for Mental Health, a non-profit developer, acquired a development site at 130-134 East 177th St. in the Bronx’s Mount Hope section. The site, which offers 56,438 buildable square feet, sold for $2.5 million, or $45 per buildable square foot. Scot Hirschfield, Jason Gold, Victor Sozio and Marko Agbaba of Ariel Property Advisors represented the seller, a private investor, and the procured the buyer in the deal. In the second transaction, a two-story commercial building located at 6 N. Third Ave. in Mount Vernon sold for $3.35 million. The 20,000-square-foot elevator building features seven commercial units, six street-level units and a catering hall on the second floor. Hirschfield, Gold, Sozio and Agbaba represented the seller and procured the buyer, both private investors, in the transaction.
SMITHTOWN, N.Y. — Sovereign Realty Group has brokered the sale of a freestanding restaurant property located at 942 W. Jericho Turnpike in Smithtown. The 3,610-square-foot property sold for $2.6 million in an all-cash transaction. Burger King occupies the property under a long-term lease, which begin in late 2014. Frank Caporrino and Clem Cote of Sovereign Realty Group represented the buyer and seller, which were not disclosed.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a multiple-property portfolio, known as the Lee Estate Portfolio, for $107 million. Spanning Brooklyn, Manhattan and Ulster County, N.Y., the portfolio consists of 17 retail and residential properties in Williamsburg, Brooklyn, which were acquired by L3 Capital LLC and ASB Real Estate Investments; a grocery store on Linden Boulevard in East New York; a three-story residential building in East Williamsburg; a co-op apartment on the Upper East Side; and a 108-acre site in Ulster County. Adelaide Polsinelli and Benjamin Tapper of Eastern Consolidated represented the seller, Lee Estate, and procured the buyers in the multi-faceted transactions. Additionally, Chris Matousek of Eastern Consolidated served as analyst for the transaction, and Roy Martin of Hodgson Russ Attorneys was the attorney for seller.
NEW YORK CITY — Quadrum Global and Simon Baron Development (SBD) have signed a 99-year ground lease at 267 West 87th St. in Manhattan’s Upper West Side. The partnership plans to develop an 18-story, 100,000-square-foot residential building on the site. The 10,000-square-foot tract of land currently houses a parking garage, which will be demolished to make way for new project. This is the fifth joint venture project between Quadrum and SBD and the second deal on the Upper West Side. Terms of the lease were not released.
NEW YORK CITY — Keen Realty has partnered with Summit Investment Management LLC to form Keen-Summit Capital Partners LLC (Keen-Summit). Keen-Summit’s offerings will include real estate transactional and advisory services, corporate finance services and capital solutions. Keen-Summit is based in the New York City metro area, while Summit Investment will continue to be based in Denver.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of a four-building, 283-unit apartment complex located at 1711-1751 Fulton St. in Brooklyn’s Bedford-Stuyvesant neighborhood. Bushburg Properties purchased the 277,200-square-foot complex for $38 million from E&M Associates. In addition to the residential space, the property features nine commercial units, as well as parking spaces. Aaron Jungreis of Rosewood Realty Group represented both parties in the transaction.
NEW YORK CITY — RKF has arranged the sale of a retail and office property located at 497 Broome St. in New York City’s SoHo district. John Dee Corp. sold the 5,700-square-foot property to an undisclosed buyer for $18.75 million. The former home of The Original Teddy Bear factory, the property features 1,200 square feet of ground-floor retail space and 4,500 square feet of office space. Brian Segall and Chris Masi of RKF represented both parties in the 1031 exchange transaction.
NEW YORK CITY — GFI Realty Services has brokered the sale of a three-story walk-up apartment building located at 255 Himrod St. in Brooklyn’s Bushwick neighborhood. The vacant property, which is fully renovated, sold for $1.95 million or $325,000 per unit. Constructed in 1931, the property features six apartment units. Daniel Shragaei of GFI represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
