Top 5 NYC Retail Building Sales—September 2023
PropertyShark collected the top deals of the month for the sector.
Source: PropertyShark, a Yardi Systems Inc. company
Sale Price: $40,000,000
Torchlight Investors obtained the 2,642-square-foot retail unit along with the 445 Fifth Ave. #COMM B retail unit totaling 5,157 square feet and the 445 Fifth Ave. #COMM C retail unit totaling 9,100 square feet from Harbor Group International. The completed deal comes in the aftermath of the buyer acquiring a $40 million loan from CIBC in early 2021 and initiating foreclosure action. The 1986-built condominium also includes 174 residential units as well as office space.
Sale Price: $37,000,000
RJF Reality sold the predominantly retail building totaling 102,145 square feet in the Chelsea neighborhood to media company MediaWill. To finance the purchase of the eight-story building the buyer turned to Alma Bank, which provided a $22 million mortgage. The 1920-built property includes 34,173 square feet of office space as well as 61,806 square feet of retail space.
Sale Price: $24,000,000
A private investor acquired the 8,000-square-foot building in Williamsburg. The Alphadyne Foundation provided a $2 million loan for the purchase of the predominantly retail building. The two-story property was built in 1910, renovated in 2014 and includes 2,000 square feet of retail space, while 6,000 square of space is set aside for other uses.
Sale Price: $13,200,000
Valroge Corp. sold the retail unit totaling 2,982 square feet along with the 414 W. Broadway #UU retail unit totaling 10,868 square feet in SoHo. RYCO Capital acquired the condominium units with the help of a $9.3 million loan originated by Derby Copland Capital. The four-story building also includes a 2,980-square-foot retail unit, which last traded in 2016 for $8.5 million.
Sale Price: $10,400,000
A private investor sold the three-story retail building totaling 21,600 square feet in Sunset Park. The property last traded two decades ago, when it fetched $1.8 million. Nearby transportation options include the R subway line at the northwest corner of Fourth Avenue and 52nd Street as well as the B63 bus line at Fifth Avenue and 52nd Street.
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