Ramos and Peña of Berko & Associates broker $5 million sale of two Flatiron properties

Angel Ramos and Agustin Peña of Berko & Associates negotiated the sale of two Flatiron District, five-story, mixed-used buildings. The adjacent properties, at 51 and 53 West 19th St. were sold for $5 million. Ramos, who represented the buyer, said, "This is a fantastic deal. The retail was under a long-term lease to Boqueria, an established Spanish restaurant, while the residential portions of both buildings were partially leased at the time of sale. We approached a select group of clients we were sure would recognize the value and the future potential of the buildings." Located between 5th and 6th Aves., the buildings are situated on a 4,160 s/f lot, with a combined above ground size exceeding 13,500 s/f and total development rights in excess of 40,000 s/f. "In a few years when the market returns this could be a great development," said Ramos, an associate broker with the firm. Senior member, Peña, who represented the seller, the Broche family estate, views the sale as a token of cautious hope and optimism. "We have seen increases in activities over the last quarter and I'm glad to say that there is a surge in deals getting done."