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Deals & Dealmakers

ON THE SCENE: Cushman & Wakefield tapped for three Astoria buildings, Meridian sells $3.3M Brooklyn home

AGENTS

Cushman & Wakefield announced the following exclusive agency assignments:

• The sale of three apartment buildings in Astoria. The properties range in price from $4,250,000 and $8,750,000. A team led by Vice Chairman Thomas A. Donovan, with Tommy Lin, Eugene Kim and Robert Rappa will represent the sellers in all marketing efforts.

• The properties include 33-14 28th Street, a four-story, 6,900 s/f walk-up apartment building. The building is comprised of nine, one-bedroom units. Five units are free-market, three are rent stabilized and one unit is rent controlled. Three of the units will be delivered vacant. The asking price is $4,250,000.

• 24-56 44th Street is a brick, four-story walk-up apartment building totaling approximately 14,000 s/f. The building is comprised of 24 rent-stabilized apartments, 20 of which are one-bedroom and four of which are studios with large eat-in-kitchens. The asking price is $7,200,000.

• 30-83 23rd Street is a newly constructed, five-story, 14,104 square-foot elevator serviced luxury apartment building. The property consists of 14 one-bedroom apartments with a balcony and luxury condo finishes, seven parking spaces, a community lounge area, a fitness room and a common rooftop deck. The asking price is $8,750,000.

• A team led by Thomas A. Donovan, with Senior Managing Director Stephen R. Preuss, Eugene Kim, Tommy Lin and Kevin Louie is marketing Northern Bell Plaza, a three-story retail and office building located at 213-01/11 Northern Boulevard in Bayside. The asking price is $17,950,000. Northern Bell Plaza is a fully-occupied, 20,932 s/f retail and office building with on-site parking and a single elevator operating on all floors and garage levels. Currently, the building consists of seven tenants occupying eight commercial units anchored by Alma Bank and 14,976 square-feet of underground garage space. The current lease expirations vary between 2020 and 2032 with various extension options.

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Town & Country Real Estate has been tapped to sell The Beach Bakery Grand Café, located in the center of Main Street in Westhampton Beach. Fully renovated in 2013, the 7,700 s/f building is a turn-key business on nearly 1/3 acre with all buildings and equipment part of the package. The property is the most significant wet use in the center of Main Street. An elevator connects the first and second floors for accessibility. There are staff apartments on the second floor. Town & Country Real Estate’s Hal Zwick and Patrick. M. Galway have listed the property at $5,750,000.

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Marcus & Millichap is representing the Unification Theological Seminary in the sale of its 260 acres campus, located at 30 Seminary Drive in the hamlet of Barrytown, Town of Red Hook, New York. Used as a religious seminary for over 80 years, this parcel includes a 120,000 s/f main building, and several ancillary buildings comprising a total of over 150,000 s/f. In 1929 it was purchased by John D. Rockefeller; the main building was built by him in 1930 for use by the Christian Brothers. In 1974 it was sold to its present owner. The campus, affording Hudson River and Catskill Mountain views, consists of nine buildings. The main structure is an “H” shaped building with three stories on the east side and four stories on the west side. It houses offices, classrooms, guest rooms, dormitories, an infirmary, a two-story gym, a two-story library, a 400-seat auditorium, and a 100-seat lecture hall. The two wings are connected by a center core containing a full commercial kitchen and dining rooms on the first floor and above that a pastoral chapel.

SALES

Meridian Investment Sales sold a multifamily property in Brooklyn, NY for $3.3 million. Managing Director Adam Sprung and Vice President Jason Goldy represented the seller and procured the buyer, Jason Wisotsky of Four Corners Development Group. Located at 2317 Newkirk Avenue in Ditmas Park, the four-story multifamily property is 15,600 s/f and contains 16 units.

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Marcus & Millichap announced the following sales:

• A 14-unit apartment property located in Bergenfield, NJ, for $2,180,000. Daniel Aviles and Andrew M. Zuckerman, investment specialists in Marcus & Millichap’s New Jersey office, sold the 55 and over residence on behalf of the seller, a limited liability company.The team also secured and represented the buyer, a private investor.

• 1975 Adam C Powell Boulevard, a five-story apartment rental building in Harlem, sold for $5.225 million. Built in 1920, the property contains 20 apartments. Peter Von Der Ahe, Seth Glasser and Jake Kahn represented both the buyer, Josh Levian, and the seller, Alan Greenspan. The buyer plans to reposition the asset as it was owned by the same family for 60 years. Plans include the renovation of common areas and apartments as they become vacant over time.

• A 7,125 s/f mixed-use building at 2000 Bergenline Ave in Union City, NJ, sold for $1,793,000. Michael Lombardi and Alexander Pildes, investment specialists in Marcus & Millichap’s New Jersey office, represented the seller, a private investor. The mixed-use building included a long-time Dunkin Donuts and eight apartments.

• 101 Deer Park Avenue, an 8,000 s/f building located on Long Island’s South Shore. Tim McCaffrey and Michael Tuccillo of Marcus & Millichap’s Manhattan office represented the sellers, John, Kevin and Dennis Murphy who have been running the building as a sporting goods store. The Murphy brothers will continue to operate the store at the current location for another few months before relocating their business to another location to be determined.

• 116 Saint Marks Place, a five-story, mixed-use building situated between Avenue A and 1st Avenue in the East Village, sold for $5,000,000. Barbara Dansker, a senior real estate broker at Marcus & Millichap’s Manhattan office, along with Steven Lusby, represented the seller. The team also procured the buyer, a private investor. The buyer is planning to renovate the vacant residential units and rent out the retail unit to a tenant that can utilize the rear yard. The 5,479 s/f building is built 19 by 56 ft. on a 19 by 97.5 ft. lot and consists of six residential units and one retail unit.

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Klosed Properties announced the acquisition of 417 W 144th Street in Hamilton Heights. The property consists of 8 apartments across 4,800 s/f. Steven Kachanian, principal, and Shawn Aziz, director of acquisitions, made the announcement.

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HSP Real Estate Group, a member of NAI Global, announced the sale of a newly converted commercial condominium at the Corinthian, 345 East 37th Street, to Corinthian HB Equities, LLC for $4,044,165. The parcel, totaling approximately 5,037 s/f,is on two floors, comprising 2,400 and 2,637 s/f. In addition, each of the offices is currently occupied by medical tenants with five-year leases. Jonata Dayan, Executive Vice President-Condo/Co-op Sales, and Jonathan Ben-Dayan, represented the buyer. Michael Heller and Michael Rudder of Rudder Properties represented the condominium sponsor, 345 East 37th Street Property Owner LLC.

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Modern Spaces Commercial + Investment Division announced the sale of 29-12 Newtown Avenue in Astoria for $5.56 million. The 16-unit, 4-story investment project is an income-producing, pre-war apartment building with rent stabilized homes. The sellers were represented by Modern Spaces’ commercial team including Evan Daniel, Ashley Grebow and Edward DiTomasso. The buyer, Sal Restivo, was represented by Anthony Lo Verme of NY Space Finders.

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Allied Property Group announced the following sales:

• A mixed use building which included a hair dresser and the Old Greenwich Branch offices of Coldwell Banker Real Estate at 272 Sound Beach Avenue, Greenwich, CT, to 272-278 Sound Beach Avenue LLC for $2,000,000. The 4,800 s/g building also include 1 large apt. Thomas Torelli was the sole broker in this transaction

• A mixed use building at 171-173 Greenwich Avenue to Winter HPG 171 Greenwich LLC a 3 story building at 171-173 Greenwich Avenue, Greenwich, CT, for $6,550,000. The property consisted of a 3,700 s/f store leased to Club Monaco (a division of Ralph Lauren) and four apartments. Matt Torrance of Cushman Wakefield represented the buyer and Thomas Torelli of Allied Property Group represented the seller.

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