Recent Commercial Real Estate Transactions
Recent commercial real estate transactions in New York.
By Kristen Bayrakdarian
143 North Seventh Street (between Bedford Avenue and Berry Street)
Built in 1920, this four-story, 6,500-square-foot building in Williamsburg contains eight one-bedroom apartments. The property had been in the same family since at least 1970.
Buyer: 143 N 7th Street
Buyer’s Broker: Michael Sherman of Baseline Real Estate Advisors
Seller: Z Port
Seller’s Broker: Marek Sobolewski of Trademarko Realty
$225/SQ. FT. for ground floor; $55/SQ. FT. for lower level
$720,000 approximate annual rent
901 Broadway (at East 20th Street)
Timothy Oulton, a British designer and retailer of handcrafted furnishings, has leased 7,170 square feet on the ground floor and lower level of this building in the Flatiron district for 10 years as the location of its new East Coast flagship store. The exterior of the building, which was built in 1910, has landmark status, but McAlpine Contracting will build a new retail gallery for $1 million. Timothy Oulton is the only retail tenant.
Tenant: Timothy Oulton
Tenant’s Broker: Robin Abrams of Compass
Landlord: Karass Development
Landlord’s Broker: David Graff of Compass
68 Middagh Street (between Hicks and Henry Streets)
This five-story building in Brooklyn Heights has 11 apartments: two studios and nine two-bedrooms, two of which are vacant. Two of the apartments are rent-stabilized. The building was constructed in 1900 and renovated this year.
Seller: Jonathan Holman
Brokers: Shaun Riney, Mike Salvatico and Robbie Ferman of Marcus & Millichap
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