Recent Commercial Real Estate Transactions

Recent Commercial Real Estate Transactions

- in Real Estate
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Credit…GFI Realty

$5.75 MILLION

1384 & 1390 Boston Road (between Union and Prospect Avenues)

The Bronx

Two adjacent, five-story multifamily buildings totaling 29,054 square feet were recently sold in the Morrisania neighborhood of the Bronx. The buildings, constructed in 1905, consist of four ground-floor commercial spaces, which are occupied by a beauty salon, a grocery store and a pharmacy, and 32 apartments, including 10 two-bedroom units, 21 three-bedroom units and one four-bedroom unit.

Buyer: Joel Wertzberger

Buyer’s Brokers: Sylvia Spielman of GFI Realty Services

Seller: Alex Mehmetaj

Seller’s Brokers: Zachary Fuchs and Sasha Berg of GFI Realty Services

$65/SQ. FT.

$32,955 approximate annual rent

10 West 33rd Street (Between Fifth Avenue and Avenue of the Americas)

Genesis International, an upscale eyewear designer, signed a two-year lease for a 507-square-foot space in a building in Koreatown known as the Fashion Accessories Center. The 13-story, 319,200-square-foot building, constructed in 1914, houses various fashion brands. Its retail tenants include two restaurants and a post office. Genesis International will use part of the sixth floor for offices and a showroom.

Tenant: Genesis International

Landlord: Ten West Thirty Third Associates

Brokers: David Levy of Adams & Company

$34.5 MILLION

181-183 Canal Street (at Mott Street)

Manhattan

This five-story, 15,680-square-foot commercial building in the Little Italy neighborhood was built in 1915. It has three ground-floor retail spaces, which are occupied by Flushing Bank, Canal Optical and a jewelry store. The rest of the floors are occupied by offices.

Seller: Rockfeld Group

Brokers: Michael Decheser, Robert Burton, Maurice Suede, Mei Ling Wong, Bobby Carrozzo, Bryan Hurley, Daniel Soyak, Vinny Puzio of Cushman & Wakefield

$7.95 MILLION

340 West 23rd Street (between Eighth and Ninth Avenues)

Manhattan

This four-story building in Chelsea was constructed in 1819. It has 5,927 square feet, with an additional 3,949 square feet of unused air rights. The first and second floors have 2,910 square feet of retail space; the upper floors have three apartments. The building will be delivered vacant.

Sellers: Elizabeth F. Stribling and Elizabeth Ann Stribling-Kivlan

Brokers: Brock Emmetsberger, Ryan Kossoy and Reed Waggoner of JLL Capital Markets

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