Recent Commercial Real Estate Transactions

October 2nd, 2018, by Rosalie R. Radomsky


245 East 30th Street (between Second and Third Avenues)


This newly renovated six-story walk-up, with 50 feet of frontage along a tree-lined street in
the Kips Bay area, offers 30 apartments — nine four-bedrooms, 12 three-bedrooms and nine two-bedrooms — of which 25 are free market, four are rent-stabilized and one is rentcontrolled. The 20,892-square-foot building also has a roof deck, a video intercom and a laundry room. The cap rate is about 4.6 percent.

Seller: 245 East 30th Street Investors
Brokers: Greg Corbin and Aaron Kline, the Corbin Group at Besen & Associates


$3.425 MILLION
The PaperBox Building
34 West 17th Street (between Fifth Avenue and Avenue of the Americas)


A New York-based real estate investment firm has bought a 2,325-square-foot retail condo,
occupied by Shape House, a sweat lodge where clients can sit and burn calories, on the ground floor of this 10-story building in the Flatiron district. The building, whose facade is covered in netting as it undergoes repointing, was recently converted into a condominium with eight floor-through apartments and a penthouse. Shape House, whose annual rent adds up to $216,000, has a lease running until 2024.

Buyer: LSS of NY
Buyer’s Broker: Vlad Sapozhnikov, Oneworld Property Advisors
Seller: Atkins & Breskin
Seller’s Broker: Brian Segall, RKF


$49.53/SQ. FT.
$44,000 approximate annual rent
557 Fourth Avenue (between 15th and 16th Streets)

Park Slope, Brooklyn

Dr. Jason Tabick, a chiropractor, has signed a five-year lease for a 900-square-foot groundfloor storefront, formerly a Pentecostal church, in this three-story mixed-use building. The building, now covered by scaffolding, is next to a mixed-use residential building under construction. The chiropractor, who received a two-month rent concession for its build out, is
expected to open in November.

Tenant: Dr. Jason Tabick, Specific Chiropractic
Landlord: Regina & Pietrantonio
Brokers: Alex Robayo, Ideal Properties Group


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