Buildings for Sale:
A vacant Lower East Side lot is on the market for $2.49 million. The lot allows for the building of either 4,271 square feet or parking for six cars.Buildings Sold:
Andrew Farkas purchased the Lexington Hotel for $185 million. The Midtown hotel had sold for $333.7 million a decade ago. It is set to reopen next month. The seller was DiamondRock Hospitality.SL Green acquired the fee interest in 461 Fifth Avenue, a 200,000-square-foot office building in Midtown South for $28.3 million. The seller, an affiliate of Karp Family Associates, was Lane Owner LLC. SL Green purchased the leasehold interest in the building for $62.3 million in 2003.
Peter Castellana, CEO of Cactus Asset Management and Western Beef supermarkets, acquired a 27,300-square-foot building at 298 West 231st Street in the Kingsbridge section of the Bronx for $20.8 million. The sellers were affiliated with the estate of Fred Straus, founder of a Yonkers-based family real estate investment firm.
New York City acquired a 107-unit, mixed-use building spanning 81,700 square feet at 1206 Westchester Avenue for $16.6 million. The purchase was part of the city’s $122 million deal for 14 cluster housing sites in the borough. The seller was Joseph Friedman.
Namdar Realty Group and Klosed Properties purchased 578 Ninth Avenue, a 13,000-square-foot mixed-use building for $12 million. Namdar acquired an 85% tenant-in-common interest. The seller was an affiliate of Sanders Investments.
Wildflower LTD picked up three Bronx properties totaling 55,000 square feet in Hunts Point for $10.7 million, located at 1340 Lafayette Avenue and 745 and 749 Whittier Street. The seller was limited liability company 745 Whittier Street.
Vornado Realty Trust is nearing a deal to become the sole owner of One Park Avenue. The company has agreed to acquire the Canada Pension Plan Investment Board’s 45% stake in the Midtown building.
576 Fifth Avenue, an 80,000-square-foot, 12-story building on the corner of 47th Street has been sold by Severn Realty Partners’ for $101 million. Originally the building was asking $113 million. The buyer was SJD, an LLC incorporated in Delaware. Lawrence Taylor was the authorized signatory for the entity, which took out a $60 million mortgage from KEB Hana Bank for the acquisition.
Brookfield Asset Management has made a massive bet on senior living facilities. The price was $664 million. The 3,235-unit portfolio spans the nation, including the 189-bed Sunrise at Sheepshead Bay, at 2211 Emmons Avenue in Brooklyn, for $36 million, and the 142-bed Sunrise at Mill Basin, Brooklyn, for $31 million.
AEW Capital Management purchased a half-new, half-renovated boutique office building in Soho for $86.2 million. The Boston-based global real estate investment manager purchased the 98,400 square-foot building at 163 Varick Street, also known as 60 Charlton Street, from APF Properties. The now-class A office building will be LEED Gold and includes new elevators, windows, stairs and energy-efficient HVAC system.
