Here’s what the $10M-$20M NYC investment sales market looked like last week

[caption id="attachment_742571" align="aligncenter" width="570"] From left: Charlie Bendit of Tacon

From left: Charlie Bendit of Taconic, rendering of Essex Crossing and 227 West 36th Street 1.) Taconic Investment Partners, L+M Development Partners and BFC Partners closed on a deal to buy 242 Broome Street from the City of New York for $15.8 million. Construction is already underway on the 14-story, mixed-use building, and Taconic has secured a $95 million construction loan from Goldman Sachs for the project. Once complete, the SHoP Architects-designed building will include 55 condominiums, the Splitsville Lanes bowling alley and the Andy Warhol museum. The building will rise between Ludlow and Essex Streets, and is part of a larger plan to revitalize Essex Crossing with nearly two million square feet of new residential, commercial and community space. 2.) A six-story office building at 74 Broad Street in the Financial District sold for $14.3 million. The buyer is investor Daniel Ridloff, vice president of SDG Investment Fund. Financial brokerage Oscar Gruss & Son Inc. acquired the 21,200-square-foot building in 1978, according to property records. The property sits adjacent to the 32-story office tower at 2 Broadway. 3.) Sam Chang’s McSam Hotel Group sold a development site at 337 West 36th Street for $10 million to another Great Neck-based developer, Kozani Inc. In September 2014, Chang filed permit applications for a new 23-story, 89-key hotel to replace a low-rise industrial building, but the Department of Buildings rejected those plans last month. The three new owners have not submitted any new filings or revised plans for the project. (Source: ACRIS data for closed sales between Nov. 30- Dec.6, and Reonomy data) 

Source: The Real Deal