Buildings for Sale:
Sapir is selling 260 and 261 Madison Avenue for about $600 million. The two office properties span close to 1 million square feet and are approximately 80% leased.Simon Development and BPG, are selling the 43-story, 466-unit Alta+ complex at 29-22 Northern Boulevard in Queens. The building is 97% occupied.
Blackstone Firm hands over keys to 1740 Broadway. Office property’s $308M loan transferred to special servicing.
Bank Leumi is seeking to foreclose on a $120 million loan on Seaport Residences (aka One Seaport), a planned 60-story condo tower that has long been plagued by the building’s tilt: three inches to the north.
EPIC signed over the deed for the property at 220 West 42nd Street to Yellowstone Real Estate Investments. The transaction, which was in lieu of foreclosure, came with a $161.1 million valuation of the property.
Ladder Capital filed to foreclose on a $137 million loan on the 50-story hotel at 99 Washington Street. The property has a 492-key hotel.
Settenbrino, the owner of the Blue Moon Hotel on the Lower East Side, filed for Chapter 11. The property, at 100 Orchard Street, has racked up $11.2 million in liabilities.
Buildings Sold:
Blackstone Real Estate has acquired a 49% stake in One Manhattan West from Brookfield and the Qatar Investment Authority. The deal values the 67-story office tower at $2.85 billion.SL Green nears a deal for 450 Park Avenue for around $440 million, a big discount to the $545 million Oxford and Crown paid when they purchased the 33-story skyscraper in 2014.
Midwood Investment & Development is under contract to buy Candela Tower at 56 Seventh Avenue for $100M from owner BlackRock. More than half of the mixed-use West Village building’s apartments are rent-stabilized.
KABR Group and FCA-Orbita Group teamed up to purchase a 3.5-acre site at 184-10 and 184-60 Jamaica Avenue for $73.5 million, The connected buildings span 620,000 square feet.
Avi Dishi bought a 10-building multifamily portfolio from Cammeby’s International Group in Washington Heights for $92.2 million. The portfolio includes 407 residential units across 377,540 square feet including four commercial units and leasing agreements with Yeshiva University to continue renting apartments to students and faculty.
Wildflower sold a roughly 3,300-unit facility it built at 3350 Park Avenue in the Morrisania section of the Bronx to Storage Post for $65 million.
EJS Group bought a 42,700-square-foot development site at 1215 Fulton Street in Bedford-Stuyvesant, Brooklyn for $33.6 million.
Brookfield Property Group bought a 67,000-square-foot self-storage building at 235 Park Avenue in Clinton Hill, Brooklyn, for $32 million.
Brookfield Asset Management bought a 105,000-square-foot storage building at 300 Sheffield Avenue in East New York, Brooklyn, for $31.4 million.
Sitex Group bought a 17,000-square-foot industrial building on 98,250 square feet of land at 360 Kingsland Avenue in Greenpoint, Brooklyn, for $30 million.
Brookfield Property Group bought a 79,000-square-foot self-storage building at 1654 Bushwick Avenue in Bushwick, Brooklyn, for $26.6 million.
Columbia University bought a vacant, 36,580-square-foot, single-room-occupancy building with 135 units at 611 West 112th Street for $25.7 million.
Guanghuiny bought 12,880 square feet of retail space at 142-26 and 142-38 Roosevelt Avenue in Flushing, Queens, for $23 million.
Arena Investors bought a 46-unit condo building out of bankruptcy at 308 West 133rd Street for $22 million.
90 Laurel Hill Terrace containing 94,400 square feet with 87 units sold for $20.5 million.
Tremada Properties bought 47 condo units at Kips Bay Towers, located at 300 East 33rd Street, for $19.4 million. 15 apartments at the Blair House in Sutton Place and $5.63 million at Blair House.
Issta bought a 28,350-square-foot hotel at 39-35 27th Street in Long Island City, Queens, for $19.7 million.
Project Renewal bought a development site at 537 West 59th Street for $19.3 million. The property, which will become a 51,300-square-foot women’s shelter.
EMP Capital Group bought a 18,400-square-foot, mixed-use building at 149 Spring Street in Soho for $17 million. Joseph Danzger and Lisa Schiff sold the eight-story building.
The nonprofit Chinese-American Planning Council bought a 138,000-square-foot, 156-unit senior housing complex at 50 Norfolk Street on the Lower East Side for $16.1 million.
Sherr Equities bought a 20,500-square-foot office building at 412 Broadway in Tribeca for $16 million. .
Simkho Aranbayev bought an 85,000-square-foot parcel at 933 Wortman Avenue and 965 Pennsylvania Avenue in New Lots, Brooklyn, for $15.8 million.
Amir Shriki’s Aya bought a 25-unit apartment building at 240 East 90th Street in Yorkville for $14.9 million. Sackman Enterprises sold the 21,000-square-foot building.
Joel Wagschal bought a 25,920-square-foot retail building at 2241 Westchester Avenue for $12.9 million.
8 East 41st Street has sold for $12.4M and contains 16K SF. The property has five floors of office space, two floors of salon space and ground-floor retail, with nearly 12K SF of air rights.
An affiliate of Felix Living bought a 30-unit, mixed-use building at 145 Avenue C in the East Village for $11.6 million. Willowick Properties sold the 18,800-square-foot building.
11 East 70th Street sold for $5 million and contained the 6,500-square-foot and was part residential and part art gallery
Top 20 NYC commercial property sales:
| Rank | Amount | Address | Neighborhood | Borough |
|---|---|---|---|---|
| 1 | $1,033,000,000 | 441 Ninth Avenue | Hudson Yards | Manhattan |
| 2 | $756,275,797 | 7 Hanover Square | Financial District | Manhattan |
| 3 | $547,430,498 | 123 Melrose Street, 54 Noll Street (Denizen Bushwick) | Bushwick | Brooklyn |
| 4 | $508,500,000 | 30 Hudson Yards (The Edge observation deck) | Hudson Yards | Manhattan |
| 5 | $290,635,498 | 1 Madison Avenue | Flatiron | Manhattan |
| 6 | $235,750,000 | 524 Broadway | SoHo | Manhattan |
| 7 | $222,000,000 | 160 Front Street | Dumbo | Brooklyn |
| 9 | $210,177,000 | 501 West 17th Street (The XI) | Chelsea | Manhattan |
| 10 | $203,775,000 | 641 Sixth Avenue | Chelsea | Manhattan |
| 11 | $192,000,000 | 530 Fifth Avenue | Grand Central | Manhattan |
| 12 | $191,670,794 | 909 Third Avenue (land only) | Sutton Place | Manhattan |
| 13 | $173,460,036 | 511 Lexington Avenue (Lexington Hotel) | Grand Central | Manhattan |
| 14 | $168,000,000 | 720 West End Avenue | Upper West Side | Manhattan |
| 15 | $166,460,000 | 350 West 39th Street | Hudson Yards | Manhattan |
| 16 | $166,283,142 | 36-06 34th Street | Long Island City | Queens |
| 17 | $160,000,000 | 546 Broadway | SoHo | Manhattan |
| 18 | $156,250,924 | 400 East Fordham Road | Belmont | Bronx |
| 19 | $154,912,500 | 440 West 57th Street (Watson Hotel) | Hell's Kitchen | Manhattan |
| 20 | $148,208,300 | 11 East 26th Street | NoMad | Manhattan |
