NEW YORK CITY — TerraCRG has arranged the sale of a mixed-use building located at 857-861 Union St. in the Park Slope neighborhood of Brooklyn. The 14-unit building, which features 12 residential and two commercial units, sold for $8.63 million, or $842 per square foot. The new owner plans to reposition the 2,225-square-foot retail portion of the building. Adam Hess, Sam Shalumov and Edward Setton of TerraCRG negotiated the transaction.
NEW YORK CITY — RKF has brokered the sale of a retail property, located at 197-205 Smith St. in Brooklyn’s Cobble Hill neighborhood. The 20,000-square-foot property sold for $18.5 million. The property offers 10,000 square feet on the ground floor and a 10,000-square-foot basement. Included in the sale are air rights for 10,000 buildable square feet that allows for future expansion. Brian Segall and Ernie Getz of RKF represented the seller, John Dee Corp., and the buyer, a partnership between Jackson Group, Aurora Capital and ACHS Management, in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an Upper West Side portfolio, a six-building mixed-use portfolio located in Manhattan’s Upper West Side. The portfolio features 152 multifamily units, 7,900 square feet of retail space and 62,655 square feet of air rights for future development. A private investor acquired the portfolio for $80.75 million, or approximately $515,000 per unit. The properties are 500 Cathedral Parkway, 3143 Broadway, 3147 Broadway, 3149 Broadway, 111 West 104th St. and 242 West 109th St. This is the first time the properties have changed hands in 30 years. Marco Lala of Marcus & Millichap’s Manhattan office represented the seller and buyer, both private investors, in the transaction.
NEW YORK CITY — CPEX Real Estate has brokered the sale of a development site at 2515-2517 Voorhies Ave. in Brooklyn’s Sheepshead Bay area. The two-lot site sold for $2.7 million, or $105 per buildable square foot. The 19,000-square-foot site is zoned approximately 25,650 buildable square feet of residential use. Additionally, the property was delivered with approved plans for construction. Sean Kelly, Orah Mansher, Sean Sears and James O’Neill represented the seller, Babe Realty Holding, in the transaction. The buyer, Hen Hui Gu Inc., was represented by Empire State Realty Group.
NEW YORK CITY — TerraCRG has arranged the sale a multifamily building, located at 43 Lexington Ave. in Brooklyn’s Clinton Hill neighborhood. The 3,200-square-foot building, which features four apartments and a full basement, sold for $1.75 million. The building offers two one-bedroom units and two two-bedroom units. Additionally, the basement is currently occupied by an art studio. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented both the seller and buyer in the transaction.
NEW YORK CITY — North Shore-LIJ has acquired 600 Community Drive in Long Island’s Manhasset for $65 million, or $260 per square foot. A partnership led by The Carlton Group’s Chairman Howard Michaels sold the property. Prior to the sale, the building’s ownership group made significant renovations to the property: achieved zoning approval to lease 80,000 square feet of the building for medical office use; approved and implemented a new renovation plans, including interior and improvements and a new façade entrance; and developed a solid pipeline of tenant activity, which allowed the property to become a multi-tenanted building. North Shore-LIJ has been a sub-tenant at the office building for the past eight years.
NEW YORK CITY — TerraCRG has brokered the sale of a development site located at 414-416 Tompkins Ave. in Brooklyn’s Bedford-Stuyvesant neighborhood. Located between Hancock and Halsey streets, the two-lot property sold for $2 million. The site was delivered with a vacant 6,400-square-foot mixed-use building and full basement. The site has a considerable number of air rights and is located outside of the Geographic Exclusion area, which means it is eligible for the 412-a tax exemption. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented the seller in the transaction.
MAMARONECK, N.Y. — Houlihan-Parnes Realtors LLC has arranged $1.6 million in refinancing for a retail property located at 426-438 Mamaroneck Ave. in Mamaroneck. The one-story building offers 10,250 square feet of retail space. The five-year, non-recourse loan features a 3.75 percent fixed rate with a 30-year amortization schedule. Additionally, the loan, which was closed with a local bank, features a five-year extension option. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the undisclosed borrower.
TARRYTOWN, N.Y. — DLC Management Corp. has acquired an 11-asset retail portfolio totaling 2.58 million square feet. The properties are located in New York, North Carolina, Arkansas and Tennessee. The acquisition is the largest in DLC’s history and the properties match well with the company’s operations and represent large, high-quality assets with strong anchor tenants. Additionally, the portfolio offers value-add opportunities through property stabilization. The portfolio includes: 2015 Walden Ave. (26,500 square feet), Union Consumer Square (386,320 square feet), Walden Consumer Square (253,225 square feet) and Walden Place (68,002 square feet) in Cheektowaga, N.Y.; Batavia Commons (49,431 square feet) and BJ’s Plaza (95,846 square feet) in Batavia, N.Y.; Premiere Place (414,639 square feet) in Williamsville, N.Y.; River Hills (315,234 square feet) in Asheville, N.C.; Spring Creek (588,606 square feet) and Steele Crossing (261,665 square feet) in Fayetteville, Ark.; Towne Center (390,607 square feet) in Murfreesboro, Tenn. Additional terms of the transaction were not released.
NEW YORK CITY — SL Green Realty Corp. has acquired additional ownership interest in the 674,000-square-foot office condominium at 1745 Broadway in New York City. The condominium is leased entirely to Random House. SL Green originally acquired a 32.26 percent stake in the property in 2007 and is now increasing its ownership to 56.88 percent as a result of recent transactions. The majority of the interests, consisting of general partnership and limited partnership interests, where purchased from The Witkoff Group in exchange for SL Green Operating Partnership units. By acquiring these interest, the company has consolidated management of the property. Designed by Skidmore, Owings & Merrill, the 50-story office building was completed in 2003.
