Pyramid Investors JV arranges $6.65 million sale of former Pyramid Reception Center

Pyramid Investors JV LLC, a joint venture between Manhattan-based Bluestone Group and Bronx developers Altmark Group arranged the $6.65 million purchase of the property known as the former Pyramid Reception Center (and YMCA) at 470 East 161st St. in the Melrose section of the borough from New York State OGS (NYSOGS). NYSOGS was represented by Ivan Diaz of Diaz & Associates. The buyer was not represented by any party. The JV is considering various community based options for the development of the 60,000 s/f building and the adjoining land, and have retained John Peters at Cushman & Wakefield to market the asset to potential tenants and users. The Melrose area is experiencing continued growth with the recent completion of Atlantic Development's 700 unit Boricua College and Village, the leasing of the Brook House furniture building to the non-profit Boom! Health, and the

Tags: Brokerage

Reprint

Previous Story Next Story

Investment Property Realty Group closes $1.75 million sale of 1094 Hancock Street in Brooklyn

Brooklyn, NY Investment Property Realty Group (IPRG), a New York-based commercial investment firm, has closed the sale of 1094 Hancock St., a mixed-use building in the Bushwick section, for $1.75 million.

Chef Driven Hospitality and AI technology company Fuel Cycle complete leasing deals at GFP Real Estate’s 630 Ninth Ave.

Chef Driven Hospitality and Fuel Cycle sign leasing deals at GFP’s 630 Ninth Ave.

New REBNY analysis finds NYC Class B office visitation stabilizing

Bestreich, Reynolds, Davila, and Flaherty of Investment Property Realty Group close $1.97 million sale of 343A Tompkins Ave. in Bed-Stuy

IPRG closes $1.97m sale of 343A Tompkins Ave.

Investment Property Realty Group closes the sale of 321 Grand St. for $2.95 million

IPRG closes the sale of 321 Grand St. for $2.95m

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

GFP Real Estate signs 11,078 s/f of leasing activity at 630 Ninth Ave.

Columns and Thought Leadership

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.

Hunt CRE question and answer: Choosing a real estate agent - by David Hunt

First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional