Ranking the city’s leading brokerages after one of the toughest years this cycle

Published on Monday, March 09, 2020 | posted by Stephen Elms

A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms . . .

Here’s what the $10M-$30M NYC investment sales market looked like last week

Published on Thursday, August 22, 2019 | posted by Carolina Bergara

In the world of mid-market investment sales last week, two church-owned properties sell in Lenox Hill for almost $18 million and an office building in Midtown East went for a bit over $15 million. Here are the details: 

Two entities — at least one of which is linked to the Chehebar family — sold a one-story industrial property at 966-988 Alabama Avenue near Starrett City in Brooklyn for $10.7 million, property records show. They had owned the property since 2015, when it was acquired for $5.65 million. Pinnacle Realty’s David Junik and Nechama Liberow represented the seller and brought the buyer into the deal. . . .

Goldman, Blumenfeld team up to buy Bronx warehouse for $40M

Published on Thursday, May 16, 2019 | posted by Carolina Bergara

A joint venture of Goldman Sachs Asset Management and Blumenfeld Development Group is buying an industrial property in the Bronx for $38.5 million.   . . .

Himmel and Meringoff buys mixed-use warehouse in the Bronx for $89M

Published on Monday, May 13, 2019 | posted by Carolina Bergara

Himmel + Meringoff Properties, which made early bets on Long Island City in the 1980s, has turned its attention to the Bronx and acquired a mixed-use Bronx warehouse for $89 million. A Pinnacle Realty team led by Fred Stein, Decio Baio and George Margaronis represented both sides of the deal. . . .

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. 

DOT Close to Leasing 92K-SF Warehouse in East Williamsburg

Published on Wednesday, January 23, 2019 | posted by Carolina Bergara

The New York City Department of Transportation is nearing a deal to lease a vacant 92,000-square-foot building at 101 Varick Avenue in East Williamsburg, Brooklyn, Commercial Observer has learned. 
David Junik and Abraham Lowy of Pinnacle Realty are handling the transaction for the landlord and declined to comment. . . .

Normandy, Princeton sell Bushwick warehouse to Steel Equities for $53M

Published on Thursday, December 27, 2018 | posted by Carolina Bergara

Steel Equities – the Long Island-based investor that focuses on industrial and warehouse projects – picked up a Bushwick property for $53 million.
 . . .

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. . . .

Madison Development picks up pair of East New York dev sites

Published on Friday, May 11, 2018 | posted by Carolina Bergara

Storage company Madison Development has purchased two sites in East New York for $25.3 million, according to property records filed with the city Friday.  . . .