RECENT SALE
$5 MILLION
342 Manhattan Avenue (between West 114th and 115th Streets)
Manhattan
A local investor has bought this five-story walk-up in Central Harlem with 10 apartments — seven four-bedrooms and three three-bedrooms. The 8,825-square-foot building sold for 14 times the rent roll, with a cap rate of 5 percent.
Buyer: Manhattan Ave 342
Seller: 342 Manhattan NYC
Seller’s Broker: Aaron Jungreis, Rosewood Realty Group
RECENT LEASE
$32/SQ. FT.
$39,600 approximate annual rent
10-29 48th Avenue (between Vernon Boulevard and 11th Street)
Long Island City, Queens
Sanidas Academy has signed a three-year lease to open its first location in January, in the 1,250-square-foot second floor space in this two-story blue and white building, built in 1931 and renovated in 2013. Classes to be offered include preparation for the SATs, Specialized High School Admissions Test (SHSAT) and Test of English as a Foreign Language (Toefl). Also available will be after-school tutoring and Mandarin Chinese lessons. The ground floor is occupied by the Chabad Community Center.
Tenant: Sanidas Academy
Landlord: LIC 48 Avenue
Brokers: Ashley Grebow, Edward DiTomasso and Evan Daniel, Modern Spaces
FOR SALE
$11 MILLION
423 Ocean Parkway (between Cortelyou Road and Ditmas Avenue)
Kensington, Brooklyn
This 29,934-square-foot elevator 2004 eight-story building offers 14 apartments — 13 three-bedrooms and one two-bedroom — of which half are occupied and rent-stabilized, and half are vacant and market rate. All apartments include stainless steel appliances, washers and dryers and a video intercom. There are also two vacant community spaces, one that is 3,581 square feet on the ground floor; the other 3,022 square feet in the basement. The cap rate is 4.5 percent.
Continue reading the main storySeller: SDF9 Ocean Parkway Owner
Brokers: Jonathan Shainberg, Shallini Mehra and Amit Doshi, Besen & Associates
Continue reading the main story