Here’s what the $10M-$20M NYC investment sales market looked like last week
1) In East Harlem, Madison Realty Capital sold off a rental they bought at auction, for $11.7 million. Madison bought the 20-unit property at 230 East 124th Street for $3.39 million along with an adjacent lot, in 2014. The buyer is Topaz Realty Management, a Union Square-based investment firm headed by Poonam Sachdev and Suresh Sachdev. In 2016, Topaz bought a Williamsburg rental from Madison for $22.4 million, more than double the price Madison paid.
2) Veracity Equities bought a multifamily property in Soho for $12 million. The five-story walk-up at 137 Thompson Street includes 15 residential units, three of which are rent-stabilized, and two storefronts. The seller is Russ Chinnici, whose family has owned the property since 1986.
3) In Washington Heights, a multifamily property traded hands for $11.6 million. Gideon Platt’s GP Properties sold the 42-unit building at 560-562 West 174th Street, which he bought for $6.4 million in 2014. The buyer is an entity associated with Edward Setton, who runs both Shamco Management and Shamah Properties.
4) Centers Health Care, led by Daryl Hagler and Kenny Rosenberg, expanded their nursing home empire with the purchase of the 90-bed Highbridge Woodycrest Center, a long-term healthcare facility in the Bronx, for $14 million. The 63,000-square-foot facility at 936 Woodycrest Street was run by the nonprofit Bronx-Lebanon Hospital Center. Centers owns and operates multiple centers in New York City and beyond, including a nine-story senior care facility is located at 4915 10th Avenue in Borough Park, which they recently refinanced for $78 million.
5) Greenroad Capital bought a five-story office building in Lower Manhattan for $12.5 million. The seller of the 21,520-square-foot building at 27 Cliff Street, Alpina Company, ran a print shop out of that location, and still owns Alpina Copy World on East 28th Street. David Natanov is the managing partner of Greenroad.
6) Metrovest Equities bought a two-story commercial building in Greenwich Village for $10.2 million from developer William Rainero. The 5,400-square-foot building at 309 Sixth Avenue is located between Bleecker and West 4th streets opposite the West 4th Street station.