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. . . .
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A joint venture of Goldman Sachs Asset Management and Blumenfeld Development Group is buying an industrial property in the Bronx for $38.5 million.
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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. . . .
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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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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. . . .
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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.
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Turnover among New York City’s commercial real estate brokerages is rarely labeled a “game changer.”
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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.
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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. . . .
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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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