Westbridge secures four sales totaling $16.05 million; Includes $9.6 million sale by Traub

October 13, 2015 - Front Section
Steven Westreich, Westbridge Realty Group Steven Westreich, Westbridge Realty Group
Manhattan, NY Westbridge Realty Group, the full-service investment sales firm founded by Steven Westreich and Adam Traub arranged the following sales totaling $16.05 million: • The $9.6 million sale of 1462 2nd Ave., Manhattan. This is a mixed-use 8,620 s/f building with eight apartments and the popular Meatball Shop. The 1910 building has 12,000 s/f of air rights that could potentially be sold in a future assemblage. Traub represented the buyer, a local investor who saw upside in the fact that the 1910 building has 12,000 s/f of air rights that could potentially be sold in a future assemblage. • The $2.9 million sale of 920 Madison St. in Bedford Stuyvesant, Brooklyn. This is a 13-unit, 10,400 s/f building sold with five of the 13 units delivered vacant. Westreich represented the buyer, Judah Klausner, who recently sold properties at 110 and 106 Ridge St. in Manhattan for $50 million to Star Basketball Player David Robinson’s Admiral Capital Group. • The $2.4 million sale of 1004 Hegeman Ave. in East New York. This is a 19-unit 23,280 s/f building that sold for 9.23 times the rent roll. Westreich represented the seller. • The $1.15 million sale of 145 Somers St. in Ocean Hill, Bedford Stuyvesant. This is a six-unit 5,518 s/f building. Westreich represented the buyer, a local investor and Traub represented the seller, Victor Benatar.
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