These two single-story warehouses in the Midwood neighborhood are across the street from each other and separated by the aboveground F train tracks. 1490 McDonald Avenue, built in 1928, has 29,500 square feet of storage space and 2,000 square feet of mezzanine office space; 1497 McDonald Avenue, built in 2006, has 5,750 square feet of space, most of it used for storage.
Author: b6
Nick Petkoff Joins B6 Real Estate Advisors
Nick Petkoff has joined B6 Real Estate Advisors as a senior managing director in New York. Focused on investment sales in lower Manhattan, Petkoff joined on Jan. 10 from Better Brokers, an investment shop and brokerage he founded in 2014.
B6 Finalizes Sale of Midwood Warehouse Duo
B6 Real Estate Advisors has completed the sale of 1490 & 1497 McDonald Ave., two single-story warehouses totaling 35,250 square feet in Brooklyn’s Midwood neighborhood, for $17 million. The firm’s Bobby Lawrence and Jermaine Pugh represented the seller, MMAH LLC.
Two warehouses in Brooklyn sell for $17 million
MMAH LLC has sold two single-story warehouses in Midwood, Brooklyn, for $17 million, according to B6 Real Estate Advisors.
B6, which represented the seller, said buildings included 1490 McDonald Avenue, a 29,500-square-foot warehouse with 2,000 square feet of mezzanine office space, and 1497 McDonald Avenue, a 5,750 square-foot warehouse.
B6 Markets Community Facility in Woodside Condo Property
B6 Real Estate Advisors has been retained to sell a community facility with 11 parking spaces at 63-14 Queens Blvd., a recently built, eight-story mixed-use residential condominium building in Queens’ Woodside neighborhood. The property, which spans the entire second floor of the building, is listed for $7 million.
Glacier Equities Buys Brooklyn Mixed-Use Building for $17.2M
Glacier Equities, a vertically integrated investment firm, has purchased 10 Grand Avenue, a mixed-use building in Brooklyn that consists of 40 residential units and 14 commercial spaces. The sales price was $17.2 million. The 85,000-square-foot building, whose residential component is currently 68 percent occupied, is located south of the Brooklyn Navy Yard. Fortress Investment Group provided acquisition financing to Glacier Equities, which plans to invest about $6 million in capital improvements. Zach Redding and John Barney of B6 Real Estate Advisors brokered the sale of the property. Dylan Kane, also with B6 Real Estate Advisors, arranged the debt.
James Nemeroff Joins B6 Real Estate Advisors
James Nemeroff was hired at B6 Real Estate Advisors last month as an associate director. He’s working alongside managing director Dylan Kane and senior director Zachary Redding. Nemeroff was previously a vice president at Thylan Associates of New York, where he worked on acquisition underwriting and other duties. He also has worked at Strat Development and Madison Realty Capital, both of New York.
Fortress Lends $23M on Purchase, Redevelopment of Brooklyn Mixed-Use Assets
Fortress Investment Group has supplied Glacier Equities with $22.5 million in debt to buy and subsequently start redeveloping a mixed-use assemblage at 8-10 Grand Avenue near the Brooklyn Navy Yard, Commercial Observer has learned.
ON THE SCENE: Latest middle market sales, acquisitions
Okada led an acquisition group that includes Francis Leung of Okada & Company. Okada, who owns the retail at 148 West 24th Street ,had been negotiating to purchase the property since 2015. The brokers on the transaction were Bob Knakal and Jonathan Hageman of JLL representing the seller with Brock Emmetsberger and Cameron Stafford of B6 Realty Advisors representing the purchasers. A $15 million debt package was provided by Jason Behfarin’s G4 Capital Partners, with borrower representation by Emanuel Westfried and Jonathan Bodner of Two Bins Capital.