ON THE SCENE: This week’s middle market sales, exclusives

by
JOSEPH ROSENFELD

SALES

Schuckman Realty announced the sale of a 3,640 s/f mixed-use building, consisting of two residential apartments above 1,800 s/f of commercial space on the lower level. The Schuckman team was led by Joseph Rosenfeld. Located at 92-03 Jamaica Avenue (pictured top) the property sold for $1,690,000 or ($464 psf). The seller was Urbanistica LLC, and the buyer was AJ Building Group, LLC. Rosenfeld identified properties that would qualify the buyer to take advantage of the SBA small business loans which are available, resulting in the successful relocation of a business and outright purchase of a new location.

DEREK BESTREICH

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Bestreich Realty Group (BRG) announced the following sales:
• 688 6th Avenue in Greenwood Heights, Brooklyn, sold for $1,475,000. The vacant single-story warehouse with air rights has an existing 2,125 s/f with an additional of 2,909 s/f. The property features 100 ft. of frontage on 21st Street, two curb cuts, one roll-up gate and one parking space in the rear. It is zoned R6B and the lot dimension is 25.17 by 100 ft. The seller was The Ryan Family and the buyer was Nick Barone. Adam Lobel, Derek Bestreich, Luke Sproviero, Toby Waring, Gabriel Kates, and Daniel Shawah repped both sides.
• 175 Conselyea Street in Williamsburg, Brooklyn, sold for $1,500,000. The 2,571 s/f multifamily property is built 20 by 40 ft. and the lot is 25 by 100 ft. Derek Bestreich, Luke Sproviero, Donal Flaherty, Hakeem Lecky and Corey Haynes repped the buyer and seller, two unamed LLCs.

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Houlihan-Parnes announced the following sales:
• Monticello Meadows Apartments, a 176-unit apartment property in Monticello, NY, was sold in a transaction arranged by Ed Graf. The property consists of nine two-story buildings on nine acres of land. The unit mix includes 1 and 2 bedroom apartments along with 2 bedroom/2 bath duplex apartments. The property had undergone a capital improvement campaign which resulted in a 95 percent occupancy. The seller was represented by Steve Tierney, partner at Woods, Oviatt, Gilman LLP.

ELLI KLAPPER

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CBRE announced the following sales:
• A three-story, 31-unit multifamily property located at 25 Van Reipen Avenue, adjacent to the Journal Square transportation hub in Jersey City, New Jersey, was sold by the long-time owners to 29 Van Reipen, LLC for $4.4 million.  Charles Berger, Elli Klapper and Mark Silverman represented the seller, 25 Van Reipen Inc., in the transaction. The buyer owns several adjacent properties and may be looking to amass them into a development assemblage.

• The sale of a single-story, 13,000 s/f fully leased flex/warehouse property located at 29 King George Road in Green Brook, New Jersey for $2,225,025. Charles Berger, Elli Klapper and Mark Silverman, along Mindy Lissner and Bill Waxman, represented the seller, My Three Roses, in the sale. The single-tenant NNN sale-leaseback was secured by an out-of-town buyer with an immediate 1031 exchange requirement. The tenant, C-K Control Temp, is a subsidiary of BRAVO! Group Services, one of the largest privately held facility support companies in the country. The recently renovated property, which spans 3.9 acres, is adjacent to Route 22 with close proximity to I-287, Route 78 and the New Jersey Turnpike.

25 Van Reipen Avenue in Jersey City

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NAI James E. Hanson negotiated the sale of a 156,627 s/f industrial building at 30 Corporate Drive in Wayne, NJ. Michael Walters and Cameron Silverstein represented the seller, Robert Michael Associates, LLC. Forsgate Industrial Partners was the buyer. The sale price was not disclosed. Constructed in 1984, 30 Corporate Drive has 15 loading docks, 26 ft. ceilings, 40 by 40 ft. column spacing, and 78 parking spaces. It is close to Interstate 80 and Routes 23 and 46.

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JLL Northeast Industrial Markets completed the sale of 95 Fulton Street in Boonton, NJ on behalf of Erasteel Inc. The 55,000 s/f property was purchased by J. Supor & Son Trucking & Rigging. The I-1-zoned light industrial facility previously operated as steel manufacturing site. Set on 14.2 acres, it features five overhead cranes, 11,000 s/f of office space, 112 parking spaces, 24-to-40 ft. ceiling heights, two loading docks and a drive-in door. It offers access to I-80, I-280 and I-287. Howard Weinberg represented the seller. Jeffery Fulton and Jason Levy of Team Resources, Inc. represented the unnamed buyer.

AGENTS

Ariel Property Advisors has been retained to sell 149 West 105th Street, a 7-story, 25,816 s/f, mixed-use elevator building with 49 ft. of frontage between Amsterdam and Columbus Avenues on the Upper West Side. Listed at $7.5 million, the building currently contains 30 residential units and an office on the first two floors. Victor Sozio, Shimon Shkury, Michael A. Tortorici, and Mark Anderson are handling the assignment. The residential portion has 20 one-bedroom and 10 studio apartments. The 6,052 s/f office section is currently owner-occupied and will be delivered vacant. The office space also features a private elevator and a private staircase connecting the two floors.

145 West 105th Street

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Ackman-Ziff Real Estate Group’s Chad Sinsheimer and Andrew Sasson have been exclusively engaged to facilitate the sale of 62 and 64 Reade Street, New York, NY 10007. The properties are two contiguous 5-story mixed-use loft-style buildings with ground floor retail in the highly desirable Tribeca neighborhood of Manhattan.​ 62 Reade Street measures 6,976 s/f and 64 Reade Street measures 8,900 s/f for a total combined above grade square footage of 15,876 s/f and includes unused floor area of 5,085 s/f. Situated on Reade Street between Broadway and Church Street, these properties have a combined 50 feet of frontage one block from New York City Hall and close to 12 different subway lines.​ This is the first sale of the properties in over 40 years. They will be delivered vacant and are zoned for any use.​

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