Top 5 Retail Building Sales—December 2020
- Jan 21, 2021
- 1240 Edward L Grant Highway, Bronx
Sale Price: $13,797,661
The 26,000-square-foot, one-story retail property in Highbridge changed hands in early December. The new owner secured $16.7 million in acquisition financing from H&O Capital Funding. Completed in 1953 on a 1.4-acre site, the property underwent alterations in 1991 and encompasses four commercial units. Nearby transportation options include the no. 4 subway line on the NE corner of River Avenue and 167th Street and the BX35 bus line at the intersection of Edward L Grant Highway and West 169th Street.
- 48 West 10th St., Manhattan
Sale Price: $11,500,000
An entity affiliated with developer Orda Management sold the 3,864-square-foot property in Greenwich Village in an off-market deal. The buyers, Peter Fenton and Kate Greer, purchased the building through a joint trust and received $8.1 million in acquisition financing from First Republic Bank. The three-story building, originally completed in 1899, previously changed hands in 2017 for $10.5 million. The A/B/C/D/E/F/M subway lines are accessible via the station at the NE corner of Sixth Avenue and Waverly Place.
- 249 Eighth Ave. #COMM, Manhattan
Sale Price: $11,000,000
BFE Management Corp, an entity affiliated with Ary Freilich, sold the 11,456-square-foot commercial unit situated on the ground floor of a 21-story condo building in Chelsea. The new owner is an entity connected to Schuckman Realty. The 163,241-square-foot property was developed in 1931 and includes 221 residential units. Nearby transportation options include the C/E subway lines on the SW corner of Eighth Avenue and 23rd Street and the M23+ bus line at the intersection of West 23rd Street and Eighth Avenue.
- 428 Troutman St., Brooklyn
Sale Price: $9,400,000
The 9,037-square-foot mixed-use building changed hands in early December. Located in The Brooklyn Collective, the property constructed in 1931 as a warehouse and underwent extensive renovations in 2012. Featuring a custom-built music venue, a bar and a residential unit, the building’s ground floor includes a street-front café, drive-in garage for deliveries and entry courtyard. Union Square and Williamsburg are accessible via the Jefferson L-train on Wyckoff Avenue, which is half a block away.
- 152 W. 24th St., Manhattan
Sale Price: $7,680,000
McSam Hotel Group’s Sam Chang sold the 10,087-square-foot commercial property to Bideawee Inc., an animal welfare organization. The new owner has filed an application with the NYCEDC in November 2020 for a proposed project that includes renovating, furnishing and equipping the existing building at 152 W. 24th Street, as well as purchasing and renovating a 2,125-square-foot parcel of land at 154 W. 24th Street, which operated as a parking lot at the time of the application.