Recent Commercial Real Estate Transactions
Recent commercial real estate transactions in New York.
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
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
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
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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