Top 5 Retail Building Sales—May 2020
- Jun 25, 2020
- 205-209 Bleecker St #COM, Manhattan
Sale Price: $10,000,000
Infinity Real Estate sold the 6,097-square-foot retail condominium in Greenwich Village for $1,640 per square foot to a private investor. The space is located on the ground floor of a 1928-built property, which provides access to the West Fourth Subway Station and Washington Square Park. Infinity Real Estate, in a joint venture with Seven Equity Group, purchased the retail condo in 2015 for $9.8 million from Forest Hill Property Group. The partnership spent more than $1.5 million on infrastructure and facade renovations.
- 1258 McDonald Ave., Brooklyn
Sale Price: $7,000,000
An entity connected to Air Realty LLC sold the 4,800-square-foot property to NMC Equity LLC in mid-May. Developed in 1931, the building is situated on a 4.6-acre site in Borough Park and is near McDonald Avenue and Bay Parkway at NW Corner station. International Carpets has leased space at the property since 2013.
- 46-52 E. 170th St, Bronx
Sale Price: $4,500,000
The 5,421-square-foot property located in Mount Eden changed hands in early May. Dime Community Bank provided $3.5 million in acquisition financing, which carries a 6.67 interest rate and is scheduled to mature in April 2030. The property previously traded in 1976. Completed in 1930, the building features 27-foot heights and is located on a 1-acre lot, in the proximity of Jerome Avenue and 170th Street at SE Corner station.
- 229 Kent Ave., Brooklyn
Sale Price: $3,000,000
The 2,900-square-foot property spans three stories and features one vacant retail unit and two two-bedroom apartments. The acquisition closed in mid-May and was subject to a $2 million permanent, long-term loan, which carries a 5.75 percent interest rate and a maturity date set for May 2050. Completed in 1910, the building underwent improvements in 2010 and is close to the station at Bedford Avenue and N 7th Street at SE Corner.
- 41-12 Broadway, Queens
Sale Price: $2,500,000
The 2,400-square-foot property changed hands in a portfolio sale with 41-14 Broadway, an 1,800-square-foot building located right next door, in South Astoria. Constructed in 1925 and 1905, respectively, the assets traded in early May. Tenants at 41-12 Broadway include D’Bianco Beauty Salon and Pan Grocery & News Corp., while 41-14 Broadway is leased to entities including Thriftology LLC and DBA Colleen’s Vintage Emporium.