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Recent CRE Transactions in NY

Populated Harlem Shake Restaurant exterior patio in Brooklyn, NY.

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By Kristen Bayrakdarian – Reporter, The New York Times

Recent Sale

$2.9 Million

266 Wyckoff Avenue (between Linden Street and Gates Avenue)

242 Jefferson Street (between Knickerbocker and Wilson Avenues)

Brooklyn

These two buildings in the Bushwick neighborhood total 8,543 square feet and were sold as a package in July. The one at 266 Wyckoff Avenue was built in 1920 and has four one-bedroom apartments, one two-bedroom apartment and a retail space occupied by a deli. The one at 242 Jefferson Street was built in 1931 and comprises six two-bedroom apartments, five of which are rent-stabilized. Both properties are three stories and were last sold in 1994.

Buyer: Joseph Jemal

Seller: Maria Coniglio

Brokers: Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila and Sean Mashihi of Bestreich Realty Group

Recent Lease

$100/SQ. FT.

$120,000 approximate annual rent

119 Fifth Avenue (at Sterling Place)

Brooklyn

The restaurant Harlem Shake signed a 10-year lease for 1,200 square feet in this 3,200-square-foot building in Park Slope as its second location. Harlem Shake will share the building, which was built in 1920, with M&C E-Bike II, a bicycle repair shop. The property also includes an occupied three-bedroom apartment above the restaurant.

Tenant: Harlem Shake

Tenant’s brokers: David Yablon of Katz & Associates and Sherry Naquin Sanchez and Spencer Bowman of Resolut RE

Landlord: 119 Park Slope

Landlord’s broker: Meyer Dagmy of Alpha Acquisitions Realty

First reported by The New York TimesRead More…