Haque, Nguyen and Niblock of Friedman-Roth secure $27.75 million; SMA Equities purchases 297 & 299 Third Avenue and 295 Third Avenue retail condo

Friedman-Roth Realty Services arranged the sale of 297 & 299 Third Ave. and the retail condominium located at 295 Third Ave. in the Gramercy Park section of the borough. The properties, located on the Southeast corner of East 23rd St., consist of a combined 46,000 s/f of buildable square footage on the two parcels. The properties are currently leased to commercial tenants. 299 Third Ave. was owned by a local landlord for 31 years, 297 Third Ave., was also owned by a local landlord for 30 years and the 295 Third Ave. retail condo was owned by the same operator for over 20 years. The combined sale price was $27.75 million. Nadeem Haque, partner at Friedman-Roth and Kevin Nguyen, represented the sellers. The sellers are as follows: 299 Third Ave., Alpha Holding Corp.; 297 Third Ave., Fan & Associates and 295 Third Ave. (Retail condo), J & T Animals, Inc. George Niblock, a managing partner, represented the buyer, SMA Equities.

Tags: Brokerage

Reprint

Previous Story Next Story

Reynolds, Davila and Loch of Investment Property Realty Group close $3.735 million sale of 216, 218, 220 East 179th St.

Bronx, NY Investment Property Realty Group (IPRG) closed the sale of 216, 218, 220 East 179th St., a development site located in the Mount Hope section of the city, for $3.735 million.

Investment Property Realty Group closes $2.9 million sale of 42 Richardson St.

IPRG closes $2.9m sale of 42 Richardson St.

Investment Property Realty Group closes $9.4 million sale of 73 Warren St.

IPRG closes $9.4m sale of 73 Warren St.

Investment Property Realty Group closes $1.7 million sale of 491 East 166th St.

IPRG closes $1.7m sale of 491 East 166th St.

Investment Property Realty Group closes $3 million sale of 4,350 s/f mixed-use building at 709 Fulton St.

IPRG closes $3m sale of mixed-use building at 709 Fulton St.

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Owners Developers & Managers

Roland to launch first flagship store with 7,519 s/f lease brokered by Midtown Commercial Real Estate and Newmark

Columns and Thought Leadership

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,