Buildings for Sale:
24-09 Jackson Avenue in Long Island City, Queens, a long-stalled hotel development site in Long Island City, is up for sale. Toyoko Inn is aiming to get around $60 million for its property at 24-09 Jackson Avenue in the Court Square section of the Queens neighborhood.Watermark Capital is exploring a sale of the 226-key hotel at 125 West 26th Street, between Sixth and Seventh avenues. The investment firm has owned the building since 2013, when it purchased it from Magna Hospitality for $113 million.
Oceanwide Holdings defaulted on its $175 million loan against 80 South Street, where a planned skyscraper has been stalled for years. The loan was taken out against the property in 2019, while Oceanwide was trying to sell it.
The 50-story hotel at 99 Washington Street is for sale, along with the 8,500-square-foot St. George Tavern next door and is seeking $187 million in a sale of both properties.
A lenders group led by Natixis will take over the Times Square Edition Hotel at 20 Times Square from Mark Siffrin’s Maefield Development.
A judge ruled that the lender on the former Public School 64 located at 605 East 9th Street may proceed with foreclosure.
Buildings Sold:
Tsai’s Blue Pool Capital paid $188 million for Daniel Och’s penthouse at 220 Central Park South.Tavros Capital and Charney Companies bought a full-block site at 318 Nevins Street, along the Gowanus Canal from Property Markets Group for $102 million. They plan to build around 660 rental apartments on the property, which has more than 500,000 square feet of buildable space.
LIHC and Camber Property plan to keep the 229 units affordable for the next 40 years. LIHC Investment Group and Camber Property Group bought the 229-unit, nine-building portfolio, located mostly on East 118th and East 119th streets, from Vitus Group for $68 million.
ASB Real Estate Investments and 60 Guilders have sold 5112 2nd Avenue, a 200,000-square-foot warehouse for $85 million to a team of O’Connor Capital Partners and CBRE Investment Management.
Reliance Industries has purchased a majority stake in the Mandarin Oriental Hotel at Columbus Circle for nearly $98.15 million, located at 80 Columbus Circle. Cayman Islands-based Columbus Centre Corp owns a 73.37% stake in the Mandarin Oriental New York, a property that was valued at $340 million in 2007.
Rockrose bought the remaining stake in 11 East 26th Street from Adams & Company in a deal valuing the buildings at $145 million. The firm held a nearly 50% stake in the office building after acquiring a 14% interest in April and another 5% in November.
Chetrit Group has sold a 41,000-square-foot, mixed-use building at 1231 Third Avenue to Premier Equities for $43.25 million and refinanced the assemblage next to it.
Hawkins Way Capital paid RLJ Lodging Trust $146 million.
The site of the former Midtown DoubleTree at 569 Lexington Avenue sold for $146 million.
RLJ Lodging Trust purchased the hotel in 2010, for almost $332 million.
Columbia University bought an assemblage formerly belonging to Fairway Market at 2328 12th Avenue for $84 million. The 2.5-acre site is located between 12th Avenue and the Henry Hudson Parkway. The property has a 41,000-square-foot building a13,000-square-foot warehouse and 68,000-square-foot parking lot. There’s also billboard space. The site has 219,000 square feet of buildable square feet that is within the Special Manhattanville Mixed-Use Zoning District linked to the school’s campus.
Hakimian sells hotel portion of 75 Wall Street to Navika Capital Group for nearly $85M
Andaz Wall Street, The upper portion of the building was converted in 2008 to include luxury condominiums. The 253-room Hyatt-branded hotel takes up the lower floors of the building, which are zoned for residential and commercial use, while 346 apartments occupy the upper floors. The tower is 42 stories in total.
An affiliate of Coral Realty bought a 65,000-square-foot, 14-unit condo project at 305 East 61st Street in Lenox Hill for $35 million. Carter Management Corp. was the seller, which had bought the property out of bankruptcy for $51 million in March 2020.
Pinnacle Group sold 237 condo units at the MeadowWood at Gateway, a 19-building housing complex and former Mitchell-Lama development Fairfield Towers, in East New York, Brooklyn, for $30.5 million. The buyers were MeadowWood Towers and MeadowWood Towers II. Pinnacle Group bought 318 units in 2015 for $53 million.
Slate Property Group bought a 52,000-square-foot, 117-room hotel building at 161 Lexington Avenue in Kips Bay for $29.9 million. The seller was Apple Core Hotels. The building, which has been closed for two years, is to become transitional housing for the homeless.
The Kimmel family sold a 50% stake in a 95,600-square-foot condop building at 520 West 23rd Street in West Chelsea for $26.75 million. Two limited liability companies were the buyers.
Excel Development Group bought a 12,500-square-foot residential building at 539 West 54th Street in Hell’s Kitchen for $25 million. Catholic Charities of New York sold the property.
FG Residential bought a 20,000-square-foot rental building at 9 East 68th Street, formerly the beaux-arts Bliss mansion, in Lenox Hill for $24.5M. The seller was Ursula Kloibal.
Joel Leifer and Cheskel Berkowitz bought a 16,500-square-foot event venue at 727 Throgs Neck Expressway in Throgs Neck, the Bronx, for $19.75 million. The Benjamin Companies sold the property.
9. Xiang Yang Xia of Golden Sparkling Supermarket bought the store’s location, a 24,300-square-foot grocery at 86-18 Broadway in Elmhurst, Queens, for $19 million from Kam Lun Food Products.
Knickpoint Ventures sold two self-storage buildings spanning a combined 45,900 square feet at 1112 Brook Avenue in Morrisania and 1045 Webster Avenue in Concourse, the Bronx, for $15.35 million. Extra Space Storage was the buyer.
Thor Equities sold a 9,700-square-foot, mixed-use building at 496 Broadway in Soho for $12.9 million. A representative of Hirshmark Capital, which owns the debt on the building, signed for the buyer, a shell company.
Witnick Real Estate Partners bought a 16,200-square-foot rental building with 25 units at 443 East 88th Street in Yorkville for $12 million. The Lemle family was the seller.
Hebrew day school YDE bought a 27,200-square-foot parcel at 2316 Coney Island Avenue in Homecrest, Brooklyn for $11.35 million. Hotelier Mahesh Ratanji was the seller.
Sunlight Development bought a 34,600-square-foot, mixed-use building with 25 units at 144-69 Barclay Avenue in Murray Hill, Queens, for $10.2 million. Lisa Lam of RLCH, Inc., which entered Chapter 11 bankruptcy in August 2020, signed as the seller.
Boyd Watterson Asset Management is in contract with Brookfield Asset Management to buy Downtown Brooklyn’s 9 and 11 MetroTech Center, the home of the city’s high-tech 911 command center, for $310 million.
A joint venture of the Loketch Group, the Joyland Group and Meral Property Group bought the site at 555 Broadway. The Collective had planned to build a 500-unit apartment building there.
Zaro’s Family Bakery sold the ground lease at 138 Bruckner Boulevard and 107 St Ann’s Avenue in Mott Haven, the Bronx, for $35 million to Montgomery Street Properties. The sale includes a 39,300-square-foot manufacturing building and an adjacent 15,600-square-foot gas station.
