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From left: 218 Thompson Street, 180 Scholes Street, 2354 Parkside Place (LoopNet, Spaxel, Apartments.com, iStock)

Light I-Sales Precede Heavy Eating

Four sales between $10M and $40M as Williamsburg rental sells below 2013 price

During the short week preceding the Thanksgiving holiday, multifamily sales continued to light up the mid-level i-sales market. Three of four sales recorded between $10 million and $40 million were residential buildings, with two properties selling in Manhattan and one each in Brooklyn and the Bronx.

One rental building sold for half-a-million less than its 2013 purchase price, while the former head of real estate development at WeWork helped sell a property for Spaxel. Thanksgiving week’s mid-market sales combined for $55.6 million on the heels of a $265 million effort the prior week. Here are the details:

1. Juda Rosenfeld sold a 34-unit rental building at 180 Scholes Street in Williamsburg for $18 million. The buyer was Sidharth Lakani through a limited liability company. Fannie Mae financed the Brooklyn purchase with a $15.7 million loan. Rosenfeld bought the 52,500-square-foot building in 2013 for $18.5 million. In an unrelated transaction in January 2020, Rosenfeld sold a 42-unit rental building at 185 South Fourth Street in Williamsburg for nearly $32 million.

(Source: LoopNet)

2. Spaxel sold a 98-unit multifamily building spanning 98,000 square feet at 3254 Parkside Place in Norwood, Bronx, for $16 million. Granit Gjonbalaj, WeWork’s former head of real estate development, signed for the seller. The buyer was an anonymous limited liability company.

(Source: Spaxel)

3. Selma and Edwin Mickenberg sold a 36-unit, mixed-use building at 218 Thompson Street in Greenwich Village for $11.2 million. The building has two commercial units and spans 18,400 square feet. The buyer was an anonymous limited liability company.

(Source: Apartments.com)

4. The Bowery Residents Committee, an outreach organization for the homeless, bought a 4,500-square-foot parcel at 3966 10th Avenue in Inwood for $10.4 million. The seller was Cheney Vasquez through 3966 Parking, Inc. No building permits have been filed at the address.

(Source: LoopNet)

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