As the pandemic pushed New York’s commercial real estate market into unknown territory, many brokerages held their breath. Not Pinnacle Realty. . . .Read more
The investors who brought a Netflix soundstage to Brooklyn just picked up another property nearby — a sign that they could be eyeing an expansion
for the popular production and streaming company. Pinnacle Realty’s David Junik, who brokered the sale of
333 Johnson to Steel Equities, negotiated the sale of 375 Johnson Avenue with his colleague Decio Baio.
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A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms . . .Read more
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. . . .
A joint venture of Goldman Sachs Asset Management and Blumenfeld Development Group is buying an industrial property in the Bronx for $38.5 million. . . .Read more
Himmel + Meringoff Properties, which made early bets on Long Island City in the 1980s, has turned its attention to the Bronx and acquired a mixed-use Bronx warehouse for $89 million. A Pinnacle Realty team led by Fred Stein, Decio Baio and George Margaronis represented both sides of the deal. . . .Read more
Steel Equities – the Long Island-based investor that focuses on industrial and warehouse projects – picked up a Bushwick property for $53 million.
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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. . . .
Storage company Madison Development has purchased two sites in East New York for $25.3 million, according to property records filed with the city Friday. . . .Read more
Turnover among New York City’s commercial real estate brokerages is rarely labeled a “game changer.”
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