Recent Commercial Real Estate Transactions

Recent Commercial Real Estate Transactions

- in Real Estate
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$42/SQ. FT.

46-24 28th Street (between Skillman and 47th Avenues)

Queens

This former beer bottling plant in Long Island City has been converted into a dividable office space. The facility has 56,000 square feet of usable space across three floors, a basement, communal outdoor space and an option to add a mezzanine level. The building can be rented in its entirety or subdivided among smaller firms. Annual rent will vary by the size of the space leased. The overhauled building is designed for open-concept offices and has 14-foot ceilings and amenities including new elevators, remodeled bathrooms, updated heating and air-conditioning, and LED lighting.

Owner: Bower USA

Brokers: Joshua Kleinberg and Frank Liggio of Cushman & Wakefield

$6.9 MILLION

240 East 75th Street (between Second and Third Avenues)

Manhattan

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A mixed-use walk-up on the Upper East Side, with Lucky Foot & Back Spa and B. Cafe on the ground floor, was sold for $6.9 million.CreditMichael J. Ferrara

This Upper East Side mixed-use building has two ground-floor retail tenants: Lucky Foot & Back Spa and B. Cafe. There are 10 walk-up residences: four studios, three one-bedrooms and three two-bedrooms; three are rent stabilized, and seven are free market. Over all, the building is 7,951 square feet, with an additional 2,265 square feet of air rights. The buyer represented itself.

Buyer: Reda 75

Seller: The Serel family

Seller’s Broker: Michael J. Ferrara of Brax Realty

$155/SQ. FT.

$186,000 approximate annual rent

181 East Houston Street (Between Orchard and Allen Streets)

Manhattan

TMC, a non-pharmacy version of the Modern Chemist chain in Brooklyn, has signed a 10-year lease for 1,200 square feet on the ground floor of this mixed-use building, and an additional 500 square feet in the basement for storage. The high-end shop sells drugstore goods like cosmetics and novelty items. The building has another ground-floor retail space at 199 Orchard Street; a third retail space is occupied by Dr. Smood, an organic cafe. The previous tenant was an American Apparel store, which occupied all of the commercial space. The building includes five floors of residences above the stores.

Tenant: TMC

Landlord: Orchard Houston

Brokers: Margaret Royer and Aaron Gavios of Gavios Realty

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