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Recent Commercial Real Estate Transactions
March 31, 2020
Recent commercial real estate transactions in New York.
By Jaclyn Peiser
1314 Riverside Drive (between Plaza Lafayette and the George Washington Bridge)
Built in 1926, this 49,322-square-foot building is in the Hudson Heights neighborhood. The six-story building has 64 rent-stabilized apartments, one of which is vacant: five studios, 39 one-bedrooms, nine two-bedrooms and 11 three bedrooms. The building last changed hands more than 25 years ago.
Buyer: Rick Herman
Seller: Lisa Butera-Sgouros
Brokers: Peter Von Der Ahe, Seth Glasser and Jacob Kahn of NYM Group at Marcus & Millichap
$117,590 approximate annual rent
10 West 33rd Street (between Broadway and Fifth Avenue)
Affordable Luxury Group, a fashion accessories company, signed a seven-year lease for a 2,138-square-foot space to use as an office and showroom in this building in Koreatown. The building, known as the Fashion Associates Center, was built in 1914. Other tenants include A Classic Time Watch Company, Rugged Equipment and Global Design Concepts.
Tenant: Affordable Luxury Group
Landlord: Ten West Thirty Third Associates
Broker: David Levy of Adams & Company
1137 Dean Street (between Bedford and Nostrand Avenues)
This 4,522-square-foot building in Crown Heights was rebuilt in 2019. It has four floors, a cellar and five vacant apartments: one one-bedroom, three two-bedrooms and one three-bedroom. Four of the units have at least one private terrace. The building last changed hands five years ago.
Seller: Falcon Allied
Broker: Saadya Notik of Mavrik Property Group
$559,600 approximate annual rent
300 East 42nd Street (at Second Avenue)
A 2,798-square-foot corner retail space is available in this 1963 building in Midtown East. The space was most recently a sales office for One UN Park. The building has 18 floors; other tenants include the World Health Organization, Dor L’Dor, and Sussex Wine and Spirits.
Landlord: Somerset and Meadow Partners
Landlord’s Brokers: Andrew Roth, Nathaniel Mallon and Glenn Vogel of EXR Somerset