Himmel + Meringoff, Square Mile Acquire Bronx Mixed-Use Site for $89M

Published on Wednesday, May 08, 2019 | posted by Carolina Bergara

Owner and developer Himmel + Meringoff (H+M) and financier Square Mile Capital Management together have acquired a mixed-use industrial site in the Bronx for $89 million from Sackman Enterprises, according to information from the buyers.

Pinnacle Realty represented the seller in the transaction. Sackman had owned the asset for around 30 years, sources said. 

 . . .

Read more

Neighborhood Charter School signs 45-year lease for 411 Wales Avenue in Mott Haven

Published on Thursday, May 17, 2018 | posted by Carolina Bergara

A new charter school is coming to the South Bronx under a 45-year lease deal that will let it avoid paying both conversion costs and property taxes.
Neighborhood Charter School, based in Harlem, will open its new Bronx location at 411 Wales Avenue in Mott Haven, according to Crain’s. Pinnacle Realty of New York’s Decio Baio, Fred Stein and Ariel Castellanos brokered the deal. . . .

Read more

These were the biggest Queens deals of the third quarter

Published on Thursday, October 19, 2017 | posted by Carolina Bergara

The $78 million sale of Jamaica’s Ideal Business Center topped the list. It was followed by Home Depot’s $63 million purchase of a Coca-Cola bottling plant in Maspeth. And a pair of industrial sites near JFK Airport that Deutsche Bank’s real estate arm bought for $43.1 million and $33.6 million occupied numbers three and four on the list.
 . . .

Read more

Bottle shock: Home Depot buys 7-acre Coca-Cola site for $63M

Published on Wednesday, August 23, 2017 | posted by Carolina Bergara

Home Depot pick up a 7.3 acre site that houses a Coca-Cola bottling plant in Queens' Maspeth neighborhood for $63 million, sources told the Real Deal. Kaymac had hired a Pinnacle Realty team led by David Junik, Decio Baio and James Tack to market the sale in March, when sources had pegged it to sell north of $70 million.The site, located near the Long Island Expressway, offers 316,200 buildable square feet. . . .

Read more