Agents
Ariel Property Advisors has been named the exclusive sales agent to market a retail co-op at 620 Broadway/154 Crosby Street in NoHo. The asking price is $7 million. The 4,300 s/f triplex is being marketed by the sales team of Randy Modell, Howard Raber, Esq., Shimon Shkury, Victor Sozio, and Michael A. Tortorici. The retail unit, which will be delivered vacant, features frontage and a main entrance on Crosby Street, a secondary entrance on Broadway, 15 ft. ceilings, a finished gallery, and loft space.
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Massey Knakal Realty Services announced the following exclusive assignments:
• A retail building at 1620 Ralph Avenue in Brooklyn’s East Flatbush neighborhood. The asking price is $4,200,000. The one-story building contains 7,672 s/f and consists of four units. It is 100% leased to a pizzeria, laundromat, and pair of medical offices. Chairman Bob Knakal and Edward Gevinski are hanlding the assignment.
• A mixed-use building at 185 Sackett Street in the Carroll Gardens neighborhood of Brooklyn. The asking price is $2,795,000. The four-story building contains 3,600 s/f and consists of one commercial unit, currently leased to a pet grooming facility, and one residential unit. There are three floor-through apartments above. All are fully renovated and two include backyard space. Ken Freeman and Stephen P. Palmese are handling the assignment.
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John G. Udell, president, announce that Weichert Commercial Brokerage, Inc. has been appointed as the exclusive agent to market for lease and for sale four office/flex buildings in Fairfield, New Jersey. Senior vice president, Peter E. Ricker, Jr. is handling the marketing of these properties which are located at 264 Passaic Avenue and 6, 7 & 10 Kingsbridge Road in Fairfield. They have a combined 111,169 s/f of office/flex space on 10.77 acres and are situated on a private cul-de-sac and offer a park-like setting. The buildings are for sale and there is space up to 13,000 s/f available for lease.
Sales
The Barcel Group announced the following sales:
• 153 Wilson Ave, Bushwick, Brooklyn, a property containing four free market apartments and one retail store, sold for $835,000, or 10x the rent roll. Marcel Fridman represented the buyer. The seller was represented by Gene Shlemovsky.
• 1156 Myrtle Ave. Bushwick, Brooklyn, a property containing five vacant free market apartments, sold for $635,000. Marcel Fridman represented all parties.
• 329 Menahan St. Bushwick, Brooklyn, a property containing six units, sold for $560,000, or 11.5 x rent roll. Marcel Fridman represented all sides
• 886 Franklin Avenue, Crown Heights, Brooklyn, four apartments and a store, sold for $1,030,000, or 10 x rent roll. Marcel Fridman represented all parties.
• The eight-unit 278 Dean Street, Cobble Hill, Brooklyn, sold for $1,370,000. Marcel Fridman represented all parties.
• Two vacant commercial buildings at 51-53 West 19th Street in Manhattan sold for $4,175,000. Bart Zimmerman represented all parties.
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Jordan Vogel of Benchmark Real Estate Group, LLC, announced the company’s purchase of 211 West 58th Street, a 16-unit residential building with a 2,000 s/f store. The sale price was $6,500,000 with a six percent cap rate. Jonathan Hageman of Massey Knakal brokered the transaction.
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ERG Property Advisors announced the sale of a development site at 536 East 13th Street in the East Village for $3,275,000, or $296 per buildable square foot, a record price. The property includes approved plans for a six-story 10,996 s/f elevator building consisting of one-bedroom and two-bedroom apartment units. The apartment units can be presented as rentals or condominiums. Most of the units have outdoor spaces. Jeffrey Wolfson, senior associate at ERG Property Advisors, exclusively brokered the transaction.
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Marcus & Millichap Real Estate Investment Services announced the following sales:
• 3124 32nd Street, a 17-unit apartment building in Queens, NY, sold for $3,200,000. Matthew Fotis, Lazarus Apostolidis, and Zachary Golub, represented the seller, a private investor. The buyer, a private investor, was secured and represented by Fotis, Apostolidis, Golub and Robert Aaron. 17 offers were made on the property, enabling the seller to sign a non-contingent contract, with a buyer from Manhattan, with a 1031 Exchange.
• McDonald’s, a 2,950 s/f Net Leased property in Bronx, NY, sold for $900,000. Steven Stoehrer and Michael Lane represented the seller, a limited liability company. The buyer, a local investor who was in an exchange to purchase the property, was secured and represented by Michael Lombardi. McDonald’s is located at 1600 Boston Road.
• 245 West 135th Street, a 9,410 s/f mxed-use property, sold for $2,700,000. Peter Von Der Ahe, Scott Edelstein, Joe Koicim, and Seth Glasser, represented the seller, a private investor, and the buyer.
