61-01 Springfield Avenue at Bayside with Skyline Properties’ Robert Khodadadian and Daniel Shirazzi (Google Maps)

In New York Metropolis, sturdy mid-market funding gross sales, notably in multi-family properties, halted in the course of the first week of August.

Solely 5 transactions involving industrial properties valued between $10 million and $40 million hit Metropolis information. Three have been in Brooklyn, whereas Manhattan and Queens every had one. Beneath is extra details about every, listed by greenback worth:

1. Alfredo Lee offered a shopping mall, by means of the Mandarin Realty NY LLC entity, to Maine 15-Lee Springfield LLC for $32 million at 61-01 Springfield Avenue in Bayside, Queens, which is connected to a Flushing-based multifamily and workplace constructing . Investor Hello Chosen. Robert Khodadian and Daniel Shirazi of Skyline Properties represented the customer. Lee’s has owned a 40,000 sq. foot purchasing middle for over 40 years. In-built 1949, tenants for the single-floor purchasing middle embrace Subway, UPS, Walgreens, and Chase. The property additionally has 100-space parking.

2. Largo Investments offered an workplace and retail constructing at 71 North Seventh Road in Williamsburg for $24.1 million to Frank Shahidi by means of Schonick Williamsburg LLC. Largo co-founder Nicolas Werner signed on for the vendor and Esmail Shahidi signed on for the customer. Industrial Observer reported {that a} JLL crew comprising Stephen Palmsey and Brendan Madigan represented the vendor. The newly-constructed constructing is unfold over three flooring in 21,000 sq. ft. Its tenants embrace perfume firm Le Labo, Spear Bodily Remedy and self-storage website Native Locker. Largo bought the property, then an empty warehouse, in 2015 for $10.5 million.

3. 5 & Fifth Realty Corp. offered an residence constructing at 5 East 63 Road in Lenox Hill to 5E63 LLC for $15.5 million. Michael McKay signed for the vendor and Edward Weiss signed for the customer. In-built 1900, the 11,900-square-foot constructing has 10 models unfold throughout six flooring. It was final offered in 1995 for an undisclosed quantity.

4. SS Peter and Paul Epiphany Parish offered a trio of non secular buildings and vacant land at 96-100 South Ninth Road in Williamsburg for $14.1 million to Brooklyn-based developer Double U Realty. The parish pastor, Father Jason Espinal, signed for the vendor. Double U’s principal Jay Weitzman signed on for the customer. The three buildings are unfold over an space of ​​about 14,700 sq. ft.
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5. Yeshiva of Flatbush bought a property at 1296 Coney Island Avenue in Midwood for $13.5 million from actual property funding agency SMRC Administration. Treasurer Abraham Hanan signed for the customer and Michael Katz did it for the vendor. In-built 1929, the single-floor constructing is unfold over 15,400 sq. ft. It was final offered in 1995 for an undisclosed quantity.



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