Top 5 NYC Office Building Sales—August 2021

Source: PropertyShark, a Yardi Systems Inc. company

1. 38 E. 30th St., Manhattan
   Sale Price: $48,800,000

44 E. 30th St., Manhattan

The transaction marks an interest sale between an entity affiliated with Elk Investors and a private investor. The 75,655-square-foot NoMad building has been under the ownership of Elk Investors since 1998. The company acquired the 13-story asset for $10.5 million from MHP Real Estate Services. Built in 1915, the property includes six commercial units and underwent cosmetic improvements in 2011.

2. 3510 Johnson Ave., Bronx
   Sale Price: $9,830,000

An entity connected to Midwood Investment & Development sold the 3,035-square-foot property to The Feil Organization. The transaction also included the nearly 1,500-square-foot building at 549 W. 235th St., also located in Riverdale. Bank of America provided $6.4 million in acquisition financing to facilitate the portfolio deal. Both properties were constructed in 1998 and include one commercial unit per building.

3. 102-02 Liberty Ave., Queens
   Sale Price: $4,610,000

An entity affiliated with private real estate investment group JENEL sold the 4,500-square-foot property 90 Dune LLC. The asset previously changed hands in 2018 for $1.2 million. Located in Ozone Park, the low-rise building includes one commercial unit and underwent redevelopment in 2018. CityMD operates an urgent care facility at the location, which is near the A subway station at the SE corner of 104th Street. and Liberty Avenue.

4. 104-01 Roosevelt Ave., Queens
   Sale Price: $3,410,000

The 8,800-square-foot Corona property includes 15 commercial units across 7,300 square feet of office space and 1,500 square feet of retail. Built in 1931, the two-story building last changed hands in 1995 between private investors. The tenancy profile of the property includes a pharmacy, a dental office and a contracting and carpentry company, among others. Nearby transportation options include the no. 7 subway line accessible on the NE corner of 103rd Street and Roosevelt Avenue.

5. 2615 E. 16th St., Brooklyn
   Sale Price: $2,280,000

The 9,000-square-foot Sheepshead Bay building traded with the help of a $1.7 million acquisition loan provided by Flushing Bank. The asset previously changed hands in 1995. The two-story property encompasses seven commercial units and came online in 1995. The B/Q subway lines are less than a mile away and are accessible on the SE corner of 15th Street and Sheepshead Bay Road.