Here’s what the $10M-$30M NYC investment sales market looked like last week

Published on Thursday, August 22, 2019 | posted by Carolina Bergara

In the world of mid-market investment sales last week, two church-owned properties sell in Lenox Hill for almost $18 million and an office building in Midtown East went for a bit over $15 million. Here are the details: 

Two entities — at least one of which is linked to the Chehebar family — sold a one-story industrial property at 966-988 Alabama Avenue near Starrett City in Brooklyn for $10.7 million, property records show. They had owned the property since 2015, when it was acquired for $5.65 million. Pinnacle Realty’s David Junik and Nechama Liberow represented the seller and brought the buyer into the deal. . . .

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Himmel + Meringoff, Square Mile Acquire Bronx Mixed-Use Site for $89M

Published on Wednesday, May 08, 2019 | posted by Carolina Bergara

Owner and developer Himmel + Meringoff (H+M) and financier Square Mile Capital Management together have acquired a mixed-use industrial site in the Bronx for $89 million from Sackman Enterprises, according to information from the buyers.

Pinnacle Realty represented the seller in the transaction. Sackman had owned the asset for around 30 years, sources said. 

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Neighborhood Charter School signs 45-year lease for 411 Wales Avenue in Mott Haven

Published on Thursday, May 17, 2018 | posted by Carolina Bergara

A new charter school is coming to the South Bronx under a 45-year lease deal that will let it avoid paying both conversion costs and property taxes.
Neighborhood Charter School, based in Harlem, will open its new Bronx location at 411 Wales Avenue in Mott Haven, according to Crain’s. Pinnacle Realty of New York’s Decio Baio, Fred Stein and Ariel Castellanos brokered the deal. . . .

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These were the biggest Queens deals of the third quarter

Published on Thursday, October 19, 2017 | posted by Carolina Bergara

The $78 million sale of Jamaica’s Ideal Business Center topped the list. It was followed by Home Depot’s $63 million purchase of a Coca-Cola bottling plant in Maspeth. And a pair of industrial sites near JFK Airport that Deutsche Bank’s real estate arm bought for $43.1 million and $33.6 million occupied numbers three and four on the list.
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