Stellar Management

Here’s what the $10M-$20M NYC investment sales market looked like last week Stellar, Icon buy a former drug rehab center and Joseph Brunner nabs three W’burg warehouses

From left: Jane Goldman, 151 West 48th Street in Midtown and 78-92 Kingsland Avenue in East Williamsburg

1.) A partnership between Stellar Management and Terrence Lowenberg’s Icon Realty Management picked up a the Educational Alliance building, a former drug and alcohol treatment center in the East Village for $14.4 million. The new owners plan to covert the seven-story facility at 371 East 10th Street into a residential building with 22 new apartments, according to plans submitted to the Department of Buildings earlier this mont上海千花网论坛

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h. The nonprofit has run the rehabilitation center since 1993.

2.) In Midtown, Solil Management bought a vacant commercial building at 151 West 48th Street for $13 million from Rockefeller International Group. The building sits next door to a seven-story parking garage at 159 West 48th Street where Extell Development is planning a new Hard Rock Hotel. It’s not clear what Solil’s plans are for the property, but the five-story building offers up to 19,000 buildable square feet of residential space and 22,836 square feet for commercial. Solil recently announced plans for a new ground-up development in Tribeca, a unique departure from the firm’s typical acquisition strategy.

3.) The Baha’is of the United States, currently headquartered in Illinois, bought a office condominium at Meadow Partners’ 866 United Nations Plaza. The religious group paid $12.4 million for the first-floor office space which spans nearly 14,000 square feet. Recent buyers in the new building include Egypt’爱上海

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s Foreign Affairs office, the Government of Monaco and the Military Office of Angola.

4.) Brooklyn investor Joseph Brunner and Abe Mandel s Bruman Realty scooped up an industrial office and warehouse at 78-92 Kingsland Avenue in Williamsburg for $12.5 million. Epner Technologies, a century-old business that made plating technology for NASA and coated this year’s Oscar awards, occupied the warehouse for over 40 years. The block-long site is three stories and spans 23,000 square feet. It has up to 47,856 buildable square feet available with a community facility component.

5.) Brunner and Mandel also purchased two warehouses at 347 Flushing Avenue and 361 Flushing Avenue in East Wil上海贵族宝贝交流区

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liamsburg for $11.2 million.  Color Tex, a textile dye company, was one of the buildings’ occupants. Combined, the buildings hold more than 55,000 buildable square feet. No plans have been filed yet for the site.

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(Source: ACRIS data for closed sales between Sept. 12- Sept. 18, and Reonomy data)

Tags: Investment Sales
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