Commercial Real Estate Transactions: Recent Lease, Sale and Auction in New York

A New Owner for 153 Avenue B

Stately 153 Avenue B property, located in East Village of Manhattan, has been sold to a private investor. The property has been on the market for 18months. The townhouse was trading at $6.85 million, but the investor bought it at $6.625 million.

Recent Lease

Price: The Property is worth $100/SQ. FT.

Rent: Approximated Annual rent is $60,000.

Address: The property is located at 93 Worth Street. This area is between Church Street and Broadway.

Borough: Manhattan

City: New York

Eye and Health TriBeCa leased a retail space, 600-square-foot large. By signing a 10-year lease contract, the holistic optical center expects to widen its operation in Manhattan. The owner has three optical centers in the city. The lease includes a 6-month rent compromise. The rental space is located on the ground floor of a 2014 seventeen-story condominium. The building has 91 apartments that are used for luxury. Eye and Health TriBeCa hopes to complete all the lease processes by the start of the fall. The owner expects the new location to be fully operational by the fall.

Tenant: The 17-story building rental space has been leased to Eye and Health TriBeCa

Tenant`s Broker: Eye and Health TriBeCa hired Dominic Coluccio to complete the lease transactions. The broker is a Corcoran group.

Landlord: The rental space is currently owned by 93 Worth Retail L.L.C.

Landlord`s Broker: 93 Worth Retail L.L.C hired Jedd TevfikArifBayrockNero and Jeremy Schwartz to handle the lease transactions. Schwartz and Nero represent Avison Young.

Recent Sale

Price: The property was sold for $6.625 million.

Address: The property, 153 Avenue B, is located between the 9th and 10th Streets.

Borough: Manhattan

City: New York

A private investor purchased a 19th-century townhouse. The 5-story building is located in East Village, Manhattan. Its size is 6,440 square-foot. The building has four non-operational period details and fireplaces. It has five floor-through apartments that have the current market standards and ratings. Part of the building once belonged to TevfikArif Doyenand Marisa Tomei. Mingus is a composer and a musician while Tomei is an actress. This apartment is a 54 -by 23-foot brownstone. The house borders Charlie Parker`s residence, East Village. It is across Tompkins Square Park. Another family had owned the residence for more than 60 years. Currently, the brownstone house has an approximate cap rate of 3 percent.

Buyer: The property was purchased by 153 B L.L.C.

Buyer`s Broker: 153 B L.L.C. hired Paul Bernstein to handle the purchase of the property. Bernstein is an employee of City Connections Realty.

Seller: the property was sold by 153 Ave. B Inc

Seller`s Broker: 153 Ave. B Inc hired Mathew Lesser and Ravi Kantha to sell the property. Kantha and Lesser work with Lesser Kantha Team at Leslie J. Garfield Real Estate.

For Sale

Price: The property`s market price is $10.25 million.

Address: The building is located at 4468-4474 Broadway. This area is between West 193

Street and Fairview.

Borough: Manhattan

City: New York

The 2- story building was built in 1911. The 20,000- square- foot property, in Washington Heights, is equipped with an elevator. It provides 14,400 square feet of unused air rights and 100 feet of frontage. The building has five offices at the top floor and 6 ground-floor spaces. The ground-floor area is used as a rental space. The current tenants include a beauty salon, a Rehab Center, New York Neuro and a liquor store. The building is easily accessible because the M100 and Bx7 buses stop in front of the property.

Seller: The property is being sold by Broadway 10th Ave Rea

Brokers: Hilly Soleiman and Ron Cohen are the current brokers. Soleiman and Cohen work for Besen& Associates.

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