• Tue. Jun 21st, 2022

Recent commercial real estate transactions


$ 1.85 MILLION

1363 Fulton Street (between Marcy Avenue and Verona Place)

Brooklyn

Built in 1910, this four-story, 4000-square-foot building in Bedford-Stuyvesant includes a commercial unit on the ground floor and a two-bedroom apartment on each of the three upper floors. Bklyn Caps, a hat and clothing store, occupies the retail space and one apartment was vacant at the time of the sale.

Buyer: Remy Raisner

Seller: Michelle adams

Brokers: Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila and Sean Mashihi of Bestreich Realty Group

$ 7.3 MILLION

117 West 57th Street (between Avenue of the Americas and Seventh Avenue)

Manhattan

Built in 1920, this seven-story, 9,755-square-foot Midtown building was sold for the first time in over 80 years. It contains Angelo’s Pizza, a restaurant that occupies the first two floors and a basement, and eight apartments above. All have two bedrooms and four are rent stabilized. All but two of the apartments were occupied at the time of the sale.

Buyer: Closed properties

Buying Brokers: Hillel Horovitz and William Etheridge of Douglas Elliman Commercial

Seller: 117 West 57th Street Realty

$ 1.03 BILLION

441 Ninth Avenue (between West 34th and West 35th Street)

Manhattan

Originally an eight-story warehouse built in 1962, this commercial tower in Midtown was converted to offices in 1983, and vendors completed a 17-story addition in 2019. The building, Hudson Commons, contains 682,000 square feet of office space, approximately three-quarters are occupied by Peloton, Lyft and three other tenants. It also has 16,000 square feet of retail space, including a cafe, In Common. Almost every floor has 270 to 3,270 square feet of outdoor space, with 14 decks. Hudson Commons has achieved LEED Platinum status, the highest energy efficiency rating from the US Green Building Council.

Buyer: CommonWealth Partners

Sellers: Cove Property Group and the Baupost Group

Selling brokers: CBRE’s Darcy Stacom, William Shanahan, Doug Middleton and Alana Bassen