Vanbarton Sells Trio of Bronx Properties
Vanbarton’s Justin Kleinman and 103-109 East Burnside Avenue (LinkedIn, Google Maps, iStock)
After only three mid-market sales were recorded in the week before Memorial Day, dealmakers tripled that output last week.
Nine investment sales between $10 million and $40 million hit city property records, covering every borough but Staten Island. Here they are, ranked by dollar value:
1. An entity represented by JLL Capital Markets’ Stephen Palmese sold a pair of waterfront warehouses in Carroll Gardens for $33 million to LLCs represented by Brendan Maddigan, also of JLL. Palmese and Maddigan signed for the seller and buyer, respectively, on 42 President Street and 129 Van Brunt Street. Both single-floor Brooklyn properties had sold for $16.1 million in January.
2. A trio of entities connected to Eagle Point Properties bought a West Village apartment building at 259 West 10th Street for $31.5 million from LLCs with ties to real estate investment firm A&R Kalimian. Eagle Point principal Justin Amirian signed for the buyer. Real estate investors Albert and Debra Kalimian, as well as Rita Kalimian Sakhaie, signed for the seller.
Built in 1892, the property has 53 apartments on eight floors spanning 51,200 square feet. It was last sold in January 2021 for an undisclosed amount.
3. An entity connected to the Vanbarton Group sold a trio of adjacent properties in Tremont for $29.6 million to an LLC with ties to real estate investment firm Verv Capital. The Bronx deal included a pair of commercial and office buildings at 2056 Morris Avenue, an apartment building at 2062 Morris Avenue and a commercial and office building at 103-109 East Burnside Avenue.
Vanbarton Principal and CEO Justin Kleinman signed for the seller and Verv principal Edward Cohen signed for the buyer. Ariel Property Advisers brokered the transaction, Real Estate Weekly reported. Two of the properties were last sold in 2014 for $10 million.
4. An LLC connected to Acuity Capital Partners sold a warehouse at 545 Broadway in Williamsburg for $23 million to Broadway Square NYC LLC. Acuity’s COO Elliot Neumann signed for the seller. The Loom Group’s Jacob Fulop signed for the buyer.
Built in 1931, the four-story warehouse is more than 52,600 square feet. The property was last sold in 2018 for $22.4 million. Five years ago, 6sqft.com reported that a large development was planned for that block. In an update in early 2020, Yimby.com reported that a 400,000-square-foot, mixed-use development was in the works.
5. An entity tied to Slate Property Group sold a commercial condo unit at 1286 First Avenue on the Upper East Side for $18.7 million to an LLC connected to the accounting firm Levy Group CPAS. The real estate investment firm’s co-founder Martin Nussbaum signed for the seller. The commercial unit is one of two in the five-floor, 44,300-square-foot, mixed-use building.
6. Lineaire Group, a Miami-based real estate development and investment firm, purchased an apartment building at 144 North 10th Street in Williamsburg for $18.5 million from the entity 148 North 10th Street LLC. Diego Bonet, Lineaire’s head of acquisitions, signed for the buyer. Philip Herschenfield and Sandor Genet signed for the seller.
Built in 2006, the 23-unit building spans six floors across almost 36,800 square feet. The property was last sold in 2004 for $1.8 million.
7. An entity called 34 East 61st Street LLC purchased a mixed-use commercial and residential building at 34 East 61st Street on the Upper East Side for $16.5 million from Petrus NY. Joan L. Greenberg signed for the seller and Jordan Sekulow for the buyer. Built in 1910, the five-story building last sold in 2010 for $10 million.
8. Bell Station Realty sold a mixed-use commercial and office building at 42-11 214th Place in Bayside for $14.7 million to the Flushing-based Cement & Concrete Workers Pension Fund. Built in 2018, the four-floor property spans 30,100 square feet.
9. An entity connected to GW Equities LLC purchased a warehouse at 127 Concord Street in Downtown Brooklyn for $12.8 million from H.D.J. Realty Corp. David Halberstam signed for the buyer and Henry Hin Swee Su for the seller. Ariel Property Advisers brokered the transaction, Real Estate Weekly reported.
Built in 1910, the two-story warehouse spans 7,650 square feet. It was last sold in 1995 for an undisclosed amount. The buyer is planning a 13-story mixed-use building with 74 units.
