Manhattan’s last hourly hotel finally has a buyer, with all signs pointing towards the historic venue morphing into something decidedly less intriguing: a car dealership.
Hyundai Motor America scooped up the Liberty Inn at 500 West 14th Street for $22.5 million on July 18, securing the highest known sale price per square foot in the trendy Meatpacking District for sellers Edward Raboy and Richard Loring Moss. They had listed the property through the entity Duanco Inc.
Hyundai Motor America has bought the Liberty Inn at 500 W. 14th St., Manhattan’s most famous cheaters’ paradise, for $22.5 million. It’s believed to be the Meatpacking District’s highest-priced building sale on a per-square-foot basis.
The Liberty Inn closed recently, deflating those seeking a safe location for clandestine trysts.
Remote work is taking its toll on city office space. And now, a 33,000-square-foot landmarked Brooklyn property that was reimagined as Kickstarter’s quirky headquarters a decade ago is now for sale — asking $25 million through B6 Real Estate Advisors.
Kickstarter, a crowdfunding company that helps others raise money for their creations, went remote during the pandemic — and eventually decided to stay that way.
For capital markets worldwide, 2022 proved to be a transformational year. 2023 is continuing on that course and experts are weighing the impacts on real estate prices and what this could mean to values and the economy. Top minds in commercial real estate and investment management explored market conditions and shared insights into what owners, lenders and investors need to know at an April 26 conference in New York City hosted by Fordham University’s Real Estate Institute (REI).
B6 Real Estate Advisors, the New York City–based investment sales and capital advisory brokerage led by industry veteran Paul J. Massey Jr., has announced the sale of four properties encompassing approximately 50,000 square feet across Hudson and Union counties in New Jersey, totaling a value of $12.75 million.
“These deals showcase B6’s continued growth throughout the New Jersey market,” said Yanni Marmarou, director of investment sales at B6, whose team spearheaded the respective Hudson and Union County sales. “As prices in New York have risen, the New Jersey market has become increasingly more competitive. Two trends we have been seeing is the demand for multifamily space and industrial property. These four sales exemplify the movement in these spaces as investors quickly jumped at the opportunities.”
Two more residential projects are coming to Jersey City as the city’s hot rental market continues to draw New York developers across the Hudson.
Dan Hollander’s DHA Capital paid $6.5 million for a 31,000-square-foot development site at 70 Mallory Avenue on the city’s West Side, where it plans to build a six-story, 136-unit building with 2,000 square feet of ground-floor retail and 53 parking spots, according to a permit application. According to a B6 Real Estate Advisors team of Yanni Marmarou, Jack Drillock and Dre Nestico, which brokered both deals, the buyers were an investment group led by Shimon Schwartz.
JERSEY CITY, N.J. — Locally based brokerage firm B6 Real Estate Advisors has arranged the $6.5 million sale of a 31,000-square-foot multifamily development site at 70 Mallory Ave. in Jersey City that is zoned for 136 units. Yanni Marmarou, Jack Drillock and Andrea Nestico of B6 Real Estate represented the undisclosed seller in the transaction. The buyer and construction timeline were also not disclosed.
A development site that could house more than 130 luxury apartments has changed hands in Jersey City’s West Side neighborhood, in a deal arranged by B6 Real Estate Advisors.
Brokers say the 31,000-square-foot property, 70 Mallory Ave., traded for $6.5 million in a transaction involving two undisclosed parties. Plans for the site call for a mixed-use project with 136 units, the firm said, touting its location near the Hudson-Bergen Light Rail’s West Side Avenue station and other transit nodes.
B6 Real Estate Advisors is marketing the sale of Chelsea Corner, a collection of four mixed-use buildings in Manhattan’s Chelsea neighborhood. Listed at $22 million, the portfolio is on the market for the first time in over 100 years.
Locally based brokerage firm B6 Real Estate Advisors has arranged the $4.5 million sale of a 25-unit apartment building in Jersey City’s West Bergen neighborhood. The property comprises 20 one-bedroom units and five two-bedroom units. Titanium Capital Partners purchased the asset for an undisclosed price. Yanni Marmarou led the B6 Real Estate team that brokered the deal.
Subscribe to receive our latest listings & company updates
Your subscription was successful. You will soon begin receiving our latest investment sales opportunities & company updates.