Varjan, Jambu, Steffani and Braun of Lee NYC sell two buildings - $36.5 million

 

 

Brooklyn, NY Chris Varjan, senior managing director of investment sales, Vickram Jambu, senior managing director of investment sales, George Steffani, director, and Jonathan Braun, director of Lee & Associates NYC, have arranged the sale of the properties at 145 Henry St., between Pierrepont and Clark Sts., and 15-19 Wyckoff St., between Court and Smith Sts., for $36.5 million to Isaac Abraham. Lee NYC’s Varjan, Jambu, Steffani and Braun represented both the buyer and the seller, The Estate of Alan Frank.

These buildings were the last two remaining properties in the Frank portfolio, both of which the Frank family had owned and managed for more than 40 years. 145 Henry St. is a six-story, 45-unit elevator building. 15-19 Wyckoff St. is a four-story, 40-unit walkup building. The two properties amount to a combined total of 66,494 s/f. In May 2019, the same Lee NYC investment sales team represented the seller in the sale of 88-90 Court St. in downtown Brooklyn.

145 Henry St. is located in close proximity to the 2, 3, N, R, 4 and 5 trains. 15-19 Wyckoff St. is less than a block from the F and G trains. Both properties are located near bus lines.

“These buildings will allow the buyer to add tremendous value by renovating and adding amenities to meet today’s market expectations,” said Varjan. “These types of assets are very hard to come by and trades are often once in a generation. This resulted in tremendous competition in the market.”