Buildings for Sale:
14 Vesey Street, a rare historically vacant building, is for sale for an undisclosed amount in Downtown, Manhattan.A lot is available at 347 Lexington Avenue for sale to establish a hotel. The asking price is $10,000,000. It is 20 stories tall with 65 rooms.
Two properties at 1984-90 3rd Avenue are for sale for $15,000,000. There are four retail units.
Buildings Sold:
Premier Equities acquired a 17,500-square-foot hotel building at 130 Duane Street for $18 million. The seller was Hersha Hospitality Management.Steven Schnall and Howard Lev sold an 8,300-square-foot, mixed-use building at 287 Bleecker Street for $10 million. The buyer was Bleecker & Borrow. The building has eight apartments and one retail unit, and became classified as part of a historic district in May.
Witnick Real Estate Partners, Namdar Realty Group and Gorjian Real Estate Group bought a 21,000-square-foot, mixed-use building at 30 East 14th Street for $23.5 million. The building has two commercial and 20 residential units. The sellers were the Dadon (90 percent ownership) and Dushey (10 percent) families.
The Blue School, founded by members of the theatrical troupe Blue Man Group, sold two commercial condo units spanning 26,000 square feet at 156 William Street for $20 million. The buyer was Delaware limited liability company PHC William Street Condo. The school acquired the units for $27 million in 2016 and subdivided one in 2018.
An affiliate of Storage Deluxe acquired a 39,000-square-foot industrial building at 302 Dyckman Street in Inwood for $15.2 million. The seller was Magic Novelty, a vendor of novelty metallic products.
Two investors are going all-in on 111 Wall Street. After acquiring the leasehold interest in the 24-story office building for $175 million, Nightingale Properties and Wafra Capital Partners have now added the building’s fee interest to their holdings as well as a $220 million purchase.
Sam Chang has transferred majority ownership of a 320-key Garment District hotel he developed, marking the third New York hotel property he has unloaded in eight months. Radisson opened the hotel at 525 Eighth Avenue in early 2020, but exited the location a short time later, following the city’s coronavirus lockdowns.
Double E Realty sold a 14,700-square-foot, mixed-use building at 45 West 55th Street for $12.25 million to Dreamaps Estate NY.
Katara Hospitality has taken over the ground lease of the Dream Downtown hotel in a deal valued at $125 million. The transaction resulted from an apparent default by Sahara Group on an $80 million loan which Katara owned and was secured by a leasehold on the hotel at 355 West 16th Street in Chelsea.
Uniqlo’s deal with AB & Sons has closed. The Japanese clothing brand paid $160 million for the five-story, 95,500-square-foot property at 546 Broadway, which the retailer has occupied since 2006. The Soho property has been in the Chetrit family since 1981. In December, Uniqlo closed its 64,000-square-foot store at 31 West 34th Street.
Alchemy Properties closed on a deal to purchase Calvary Baptist Church’s property. Through its partnership with real estate investment firm ABR Partners, developer Alchemy originally announced a deal in 2019 to acquire and construct a 26-story office building atop the church-owned property at 123-141 West 57th Street, a 16-story property that also includes the Salisbury Hotel next door.
Electra America Hospitality Group nabbed The Roger New York hotel for a discount. The joint venture between Electra America and luxury extended-stay firm AKA Hotel Residences snapped up the 193-room hotel at 131 Madison Avenue for $19 million. That’s $71 million less than what the hotel’s last buyer, LaSalle Hotel Properties, paid in 2010. The seller was Pebblebrook Hotel Trust, which acquired ownership of LaSalle in 2018 through a $5.2 billion buyout.
GMHC purchased seven commercial condo units at 307 West 38th Street in Hudson Yards for $16.7 million. The seller was George Comfort & Sons.
Icon Realty Management sold a 10,000-square-foot, mixed-use building with 10 units at 205 Avenue A for $14.3 million. The buyer was Japan-based Tsukaki Company.
ZG Capital Partners acquired a 20,000-square-foot, mixed-use building at 654 Broadway Avenue for $10 million. The seller was Acadia Realty Trust.
Prologis bought a controlling stake in an industrial site at 46-81 Metropolitan Avenue in Maspeth, Queens for $42.7 million. The site can accommodate a property of just over 390,000 square feet. The deal is about $109 per buildable square foot. The seller’s were tied to three individuals: James Juliano, Raymond Rudolph, and Alan Dern. They bought the property for $23 million in 2016.
Nightingale Properties and Wafra Capital Partners landed about $500 million in acquisition and construction financing for 111 Wall Street.
