facebook
Traded Co logo
Submit a Deal

PEAK Capital Acquires Mixed-Use Property In Gramercy Park For $24.3M

229-233 East 21st Street
PointingArrow
ShareContact

This Mixed-use property located in NY was sold for $24,300,000 almost 2 years ago. The brokers of the deal were David Schechtman, Rael Gervis, Brian Gladstone, and Abie Kassin

PEAK Capital has acquired a mixed-use property located at 229-233 E. 21st St. in the Gramercy Park market. The transaction took place on 05/03/2022, with a sale price of $24,300,000. The property spans 36,344 square feet, resulting in a price per square foot of $668. The two adjacent buildings offer 92 feet of frontage on 21st Street, positioned between 2nd and 3rd Avenues. This prime Gramercy location presents a significant opportunity for PEAK Capital.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $24,300,000
  • Address: 229-233 E. 21st St., Gramercy Park
  • Market: Gramercy Park

PEAK Capital's acquisition was facilitated by the sell-off of Gennaro Vendome. Brian Gladstone, David Schectman, and Abie Kassin, representing Meridian Capital Group, acted as the brokers for the deal. Simon Rosenfeld and Rael Gervis, also from Meridian Capital Group, served as mortgage brokers. This purchase marks PEAK Capital's 37th acquisition.

According to a statement from @peakcapitalre, the property offers significant potential for increasing rental income through a value-add strategy. With a heavily free market and room for improvement, PEAK Capital plans to raise rents to market levels. Additionally, PEAK Capital is actively seeking value-add multi and mixed-use properties in prime neighborhoods of Western Queens, Brooklyn, and Manhattan. For any new acquisition opportunities, interested parties can contact Alex Rabin at [email protected].

View Related

Deals
  • Location
    229-233 East 21st Street, New York City, New York 10010, United States229-233 East 21st Street, New York City, New York 10010, United States
  • Sale Price
    $24,300,000$24,300,000
    $668 PPSF$668 PPSF
  • Area
    36,344 SF36,344 SF
  • Asset Type
    Mixed-useMixed-use
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Rael Gervis

Rael Gervis

Deals9
Financed$475.5M

Agency

Meridian Capital Group

Meridian Capital Group

Agency
Deals2403
Volume$65.9B

Social

Deal Summary

SALE IMAGE: David Schectman, Brian Gladstone, Alex Rabin, Simon Rosenfeld, David Gomez & Rael Gervis DATE: 05/03/2022 ADDRESS: 229-233 E. 21st St. MARKET: Gramercy Park ASSET TYPE: Mixed-use BUYER: PEAK Capital (@PEAKCapitalRE) - Alex Rabin (@AlexBRabin) & David Gomez (@DavidGomezNYC) SELLER: Gennaro Vendome BROKERS: Brian Gladstone, David Schectman & Abie Kassin - Meridian Capital Group (@Meridian.Capital.Group) MORTGAGE BROKERS: Simon Rosenfeld (@SimonRosenfeldNYC) & Rael Gervis - Meridian Capital Group (@Meridian.Capital.Group) SALE PRICE: $24,300,000 SF: 36,344 ~ PPSF: $668 Notes from @peakcapitalre: This purchase marks PEAK’s 37th acquisition. -Two adjacent buildings with 92' of frontage on 21st Street between 2nd & 3rd Avenues. -Prime Gramercy location -$675 PSF basis -Heavily Free Market -Strong upside marking rents to market through value add strategy Peak is actively searching for value-add multi & mixed use properties in prime neighborhoods of Western Queens, Brooklyn & Manhattan. Please email Alex Rabin for any new acquisition opportunities at [email protected]

Comparables


We could not find what you were looking for, try a different filter

Contact

Broker's profile image

229-233 East 21st Street

  • Social

  • Comparables

  • Contact

  • Share


  • Login to Suggest Edits