Recent Real Estate Commercial Transactions

$ 8.4 MILLION

689 10th Avenue (on West 47th Street)
Manhattan

This 8,070 square foot building in Hell’s Kitchen has nine two-bedroom apartments; a commercial space, occupied by 5 Brothers Gourmet Market; and a basement The seller had owned the building, which also has about 2,500 square feet of air rights available, since the early 1990s.

Buyer: Larry Mullan

Seller: John Georgiopoulos

Brokers: Matt Fotis, Sam Hoefle and Colton Traynham of Marcus & Millichap

$ 72/ SQ. FOOT.

$ 180,000 approximate annual rent

16 West 23rd Street (between Fifth Avenue and Avenue of the Americas)

Manhattan

Rooted Innovations, a Dublin-based food business that focuses on plant-based products and sustainability, has secured a seven-year lease for a 2,500-square-foot space on the fourth floor of this district building from Flatiron. Built in 1925, the five-story property, which overlooks Madison Square Park, used to be a family residence.

Tenant: Rooted Innovations

Tenant brokers: Aidan Campbell and Michael Thomas de Colliers

Owner: Sun ray

Landlord Agent: Michael Heaner of the Kaufman Organization

$ 12.2 MILLION

1275 Broadway (between Greene Avenue and Grove Street)

Brooklyn

Built in 1919, this one-story building in Bushwick used to house a discounted clothing store. The property is 8,940 square feet, and the owner has approval for a 14-story hotel and on-site residential development. The seller anticipates that the project will be completed between 18 and 24 months after the sale.

Seller: 1275 Broadway

Brokers: Stephen Preuss and Kevin Schmitz of Cushman & Wakefield

$ 6.36 MILLION

764 East 152nd Street (between Wales and Concord Avenues)

The Bronx

Built last year, this 15,946 square foot building is located in the Woodstock neighborhood. The seven-story building has 24 apartments, a mix of studios and one-bedroom apartments, all occupied. There is an elevator and seven parking spaces in the rear.

Seller: UA Builders

Runner: Marco Lala by RM Friedland

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