Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Here's what the $10M-$20M NYC investment sales market looked like last week

Property Markets / Outlook

United States of America

Jul 04 2017

Add to Favorites

Share this Article:

Chava Gourarie

In the world of mid-market New York City investment sales last week, Bentley Zhao picked up an 84-unit Queens building and SW Management bought a Greenwich Village walk-up for $20 million.

1.) Bentley Zhao’s New Empire Real Estate bought an 84-unit walk-up building for $10.2 million. Zhao partnered with the Department of Housing Preservation and Development to purchase the four-story building at 26-49 96th Street in East Elmhurst. The seller is Stuart Match Suna, who is best known for founding the Long Island City-based Silvercup Studios, but has also run a commercial real estate company called Metro Management since 1985.

2.) A Greenwich Village townhouse rumored to have once housed the Rolling Stones sold for $10.3 million to an anonymous buyer. Peter Stefan, the owner of five-story brownstone at 54 West 9th Street, listed it back in 2008 for $8 million. The 160-year-old home was built by a tobacco mogul, and was once owned by the German American painter Tony Sarg. It is currently divided into five full-floor rentals, and includes two gardens.

3.) Stanley Wasserman’s SW Management picked up a 36-unit rental building in Greenwich Village for $20 million. The seller was landlord Gerard Ragone,whose family has held the building since 2003. The landmarked six-story building at 277 West 11th Street was built in 1906 and spans 22,686 square feet.

4.) Uri Dreifus’ Rockaway Capital Partners sold two adjacent Hudson Heights walk-ups with 12 units each for $12.3 million. The buyer of the two five-story buildings, at 558-560 West 184th Street, was Brooklyn-based landlord Joel Werzberger. Werzberger owns several buildings in the Bronx including 912-922 Southern Boulevard with 66 units, which he picked up for $16.1 million in 2016.

5.) Gabrielli Truck Sales bought a vacant lot in the North Bronx from scrap metal company Pascap. Gabrielli paid $11 million for the 182,000-square-foot lot at 3501 Hutchinson Avenue.

6.) South China Import, a footwear wholesaler, sold a Brooklyn warehouse to Green Art Holdings LLC, based in the Channel Islands. The two-story building at 144 Greene Street in Greenpoint sold for $18 million.

SOURCE: The Real Deal


You may also like...

Load More


Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.