January 4, 2017 Aranxza Lopez 0Comment

Four multifamily buildings in Flatbush were purchased and the Recording Academy bought the onetime home of J.P. Morgan in Murray Hill.

1. Coney’s Realty Group’s Peter Rebenwerzel took four Flatbush multifamily complexes Jacob Deutsch totaling a $28.7 million deal. The four buildings included a 53-unit building at 2502 Avenue D, two Flatbush buildings located at 1077 and 1114 New York Avenue, and Brownsville building, at 514 Rockaway Parkway. Collectively, the four properties have 146 rental units.
The latest transaction adds to Coney Realty Group’s their extensive Brooklyn holdings of roughly 35 buildings.

2. A 48-unit multifamily building at 547 west 157th Street, Washington Heights, was bought by Joseph Sbiroli of Ventura Land Corporation for $14.6 million. This property was originally bought by Joshua Sternhell for $6.7 million back in 2013.
Last year, Sternhell partnered with Mike Spira and other investors and purchased an eight building Washington Heights portfolio for $101.5 million from Sentinel Real Estate Corporation.

3. A 25 percent stake was sold on a 32,214-square-foot building at 174 Mott to Juergen Ostertag for $11 million. The six-story industrial building in Little Italy was owned by developer Jack Jangana and is being renovated by DXA Studios.

4. The Recording Academy bought a 10-unit apartment building at 21 East 37th Street, that was once the home of J.P. Morgan. The Murray Hill complex was bought for $13.5 million by Neil Portnow (National Academy of Recording Arts and Sciences.) The 7,202-square-foot- property was bought through its nonprofit title holding arm, NARAS Properties.

5. A once-vacant square located between 40th and 41st streets south of Greenwood Cemetery is now Delta Tower Enterprises. Andrew Borek and Michael Petrillo flipped the vacant 15,373-square-foot lot for $10.3 million. The lot was originally bought for $750,000 back in 2014.

6. A one-story factory at 2590 Park Avenue in Mott Haven, Bronx was bought by James Giddings, from GLS Real Estate, for $11M. The Factory is home to Streamline Plastics and has an additional 51,848 square feet of development rights available for commercial or industrial use.

7. Benchmark Real Estate’s Jordan Vogel bought a 14-unit apartment, with one commercial unit for $10.3 million. The 11,842-square-foot building belonged to Michael Goldstein and was managed by Trezza Management.

(Source: ACRIS data for closed sales between Dec. 26-Jan. 1 and Reonomy data)

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