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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. . . .
A joint venture of Goldman Sachs Asset Management and Blumenfeld Development Group is buying an industrial property in the Bronx for $38.5 million. . . .Read more
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. . . .Read more
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
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. . . .
Steel Equities – the Long Island-based investor that focuses on industrial and warehouse projects – picked up a Bushwick property for $53 million.
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The properties at 184-10 and 184-60 Jamaica Avenue span 613,000 square feet and are around 80 percent leased, Crain’s reported. The buyers landed an acquisition
loan from private equity firm KKR.
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The owner, Kaymac Corporation, hired Pinnacle Realty of New York to market the site as a potential development opportunity. Sources familiar with the site, located near the Long Island Expressway, said it could sell for between $70 million and $75 million.
Pinnacle Realty’s Decio Baio, David Junik and James Tack are representing the owner. The brokers declined to comment, while Kaymac and Coca-Cola did not respond.
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Larry Cerullo and Steve Tallides, owners of the popular sports bar and event space Studio Square in Long Island City, sold a nearby office property at 35-01 36th Street for $24 million, or $538 a square foot, sources told The Real Deal. . . .Read more