Hyundai scoops up former hotsheet hotel for $22.5M

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.

Jersey City multifamily binge: Two more sites trade for $21M

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.

A $36M Midtown listing tests Fifth Avenue’s comeback

As Fifth Avenue battles back from the pandemic, a new listing in the heart of the shopping corridor will test the strength of its recovery.

The leasehold for 587 Fifth Avenue, a 10-story, mixed-use building between 47th and 48th Streets, is hitting the market asking $36 million. Steve Kassin’s Infinity Collective holds the ground lease, public records show. Zachary Redding and Dylan Kane of B6 Real Estate Advisors have the listing.


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