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Roundup

Deal Roundup 4.29.20

Rendering of 120 Fifth Avenue (Credit: Avery Hall Investments)

Deals that went into contract Pre-Covid-19:

  • Sam Charney + Tavros Capital Partners have closed on their acquisition of a Gowanus assemblage at 251 Douglass Street from Galinn Fund’s David Linn for $22.5 million. The block-through site between Nevins Street and Third Avenue is currently zoned for low-density industrial uses and allows about 37,000 square feet of commercial development. Under the proposed Gowanus neighborhood rezoning, the property could have up to 96,000 square feet of commercial and residential development. (CO)
  • Billy Macklowe + David Welsh have closed on their acquisition of 120 Fifth Avenue in Park Slope from Avery Hall Investments for just over $59 million. The two proposed low-rise buildings will span over 225,600 SF, and contain 165 units, plus a grocery store within its proposed 90,000 SF of retail space. (TRD)
  • UBS Realty Investors has closed on its acquisition of 19-23 St. Mark’s Place in the East Village from Cape Advisors for around $35 million. Cape’s David Kronman noted his good fortune of selling the asset at an “aggressive sub-four cap rate, and closing the deal despite difficult circumstances in the market right now.” (TRD)

Financing

  • Valyrian Capital’s Theodore Kakoyiannis has secured a $26.5 million loan from AIG to refinance 34-22 35th Street in Astoria. The newly constructed building spans 65,000 SF, and consists of 64 rental units, a retail space (1,400 SF), and a 64-space parking garage. (CO)

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