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Recent Commercial Real Estate Transactions

Feb20
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Recent Commercial Real Estate Transactions

Recent commercial real estate transactions in New York.

The designer Chan Luu signed a three-year lease in this building in the garment district. Credit…Adams & Co.

Recent Lease

$49/SQ. FT.

$53,900 approximate annual rent

231 West 39th Street (between Seventh and Eighth Avenues)

Manhattan

Chan Luu, a designer of handmade jewelry, accessories and apparel designer, signed a three-year lease for a 1,100-square-foot space to use as an office and showroom in this building in the garment district. The property, known as the Contemporary Fashion Center, was built in 1908 and has 12 floors that house more than 100 fashion showrooms and more than 400 fashion lines. Other tenants include Hudson Jeans, Shoshanna and Autumn Cashmere.

Tenant: Chan Luu

Tenant’s Broker: Alan Rosinsky of Metro Manhattan Office Space

Landlord: 231/249 West 39 Street Associates

Landlord’s Brokers: James Buslik and Jeff Buslik of Adams & Company

This four-apartment building in Flushing was built in 1979.Credit…Courtesy of Modern Spaces Commercial & Investment Division

Recent Sale

$1.125 MILLION

66-11 Austin Street (between 66th and 67th Avenues)

Queens

This three-story, 3,520-square-foot building in Rego Park was built in 1979. It last changed hands in 1999. The building is a walk-up and has four occupied apartments: two one-bedrooms, a two-bedroom and a three-bedroom. The super’s unit in the basement is unoccupied.

Buyer: Ghias Bhuiyan

Seller: Steve Rosenfeld

Brokers: Evan J. Daniel, Edward DiTomasso and Ashley Jeshiva of Modern Spaces Commercial & Investment Division

This 2019 building in Midwood has 64 apartments.Credit…GFI Realty Services

For Sale

$42 MILLION

1704-1712 Ocean Avenue (between Avenue L and Avenue M)

Brooklyn

This 59,840-square-foot building in the Midwood neighborhood was completed in 2019. The property has seven stories with 64 apartments — one studio, 40 one-bedrooms and 23 two-bedrooms — as well as a subsurface parking garage. Some of the apartments have private balconies. The building is 70 percent leased.

Seller: 1704 Ocean Avenue

Broker: Matthew Sparks, GFI Realty Services

This 9,124-square-foot building in Murray Hill was built in 1920.Credit…Reed Waggoner

For Sale

$10.25 MILLION

121 East 37th Street (between Park and Lexington Avenues)

Manhattan

Built in 1920 and renovated in 2018, this 9,124-square-foot building in Murray Hill has five floors and 11 vacant apartments: a studio, nine one-bedrooms and one two-bedroom. The building, which has an elevator, last changed hands in 2016.

Seller: PR 121 East 37

Brokers: Clint Olsen and Brock Emmetsberger of JLL

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