Besen & Associates closed four multi-property sale transactions totaling $120 million in Q1 2015. This included five buildings in Murray Hill sold for $49.6 million, three buildings in West Harlem sold for $7.5 million, Clarendon Gardens, a seven-building complex in Brooklyn, sold for $32.5 million, and Arlington Village, a 12-building complex in Brooklyn spanning two city blocks, sold for $30 million. The document provides details on each transaction and states that the strong first quarter sales contributed to a total of $19 billion in building sales across New York City for the quarter.

1. Spring 2014 | Volume 4 | Issue 8
Murray Hill/Gramercy Portfolio
Spring 2015 | Volume 4 | Issue 10www.besengroup.com
MULTIPLE PORTFOLIO SALE TRANSACTIONS CLOSED IN Q1 2015
Blockfront on Manhattan’s East Side & Three City Blocks in Brooklyn Sold
Contributing to a $19B first quarter for
building sales, Besen & Associates closed
four multi-property sale transactions at an
aggregate value of $120,000,000. The
properties include almost an entire block
front in the Murray Hill section of Manhattan,
three buildings in West Harlem and three full
city blocks in south Brooklyn.
The Murray Hill transaction included five
mixed use properties at 360, 362, 364, 366
and 368 Third Avenue, located between
East 26th & 27th Streets. These walkup
buildings consist of 56 apartments and 5
stores, and span 125 feet along the west
side of Third Avenue. The properties were
sold by three separate long-term owners,
and the exclusive listings were handled
by Daniel Shapiro and Matthew Garcia of
Besen & Associates. Alex Frants procured
the buyer. The portfolio traded for a total of
$49.6 million to a partnership between Itzhaki
Acquisitions and Continental Ventures. The
price equated to $870 per square foot.
In West Harlem, a package of three walkup
buildings was sold for $7,500,000 in March at
28 West 132nd Street, 3 West 137th Street
and 273 West 150th Street. The package
includes 45 residential rent-stabilized units
and two retail stores. The properties amount
to 40,000 total SF and come with a NYC
Housing Preservation and Development
regulatory agreement for another 20 years
for which the buyer was pre-approved. The
sale was completed solely by Shoy McKen.
In February Amit Doshi and Shallini Mehra
closed the sale of 5407-5413 Kings
Highway, also known as Clarendon
Gardens, for $32,500,000. The subject
property is a seven-building garden
The Besen Buzz
apartment complex that occupies a full city
block in the East Flatbush neighborhood
of Brooklyn. The complex includes 224
rent stabilized apartments and 97 parking
spaces. The buildings were constructed
in 1952 and have approximately 195,000
gross square feet and 23,790 square feet of
unused air rights.
Amit Doshi and David Davidson of Besen &
Associates completed the sale of Arlington
Village in the East New York section of
Brooklyn for $30 million. Located at 3100
and 3124 Atlantic Avenue, the property
encompasses two city blocks across seven
acres bound by Liberty Avenue, Montauk
Avenue and Berriman Avenue. The portfolio
was sold by the Fred Stark Estate after 50-
plus years of ownership. This 12-building
complex is comprised of eight 14-unit, 2-story
walkup apartment buildings, three 24-unit
buildings with 108 parking garages, one 16-
unit building with 24 parking garages and
7,600 SF of retail on Liberty Avenue. There
are a total of 210 units of which approximately
155 units were vacant at the time of sale.
The properties were constructed in 1947-
1948 and have approximately 186,100 gross
SF. This property is zoned R5 with a C1-3
commercial overlay over the southeast
portion providing for potentially an additional
200,000 SF of development rights.
“These were complex transactions from
a number of standpoints,” stated Michael
Besen. “Our teams worked diligently in
representing their respective clients to
achieve maximum pricing,” he concluded.
Harlem Porfolio
Clarendon Gardens Complex
Arlington Village

2. Bronx N/W Portfolio
Six buildings with 188 apartments and 7 stores
$22,750,000
9.0
$165
$121,000
6.52%
Amit Doshi, Lynda Blumberg
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
2051-2055 Grand Concourse
5-story elevator building with 63 apartments, 1 store
$10,025,000
10.6
$184
$159,100
5.74%
Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Broker:
511 West 181st Street | 2486 Valentine Avenue
2 buildings with 53 apartments and 5 stores
$8,335,000
10
$193
$138,900
4.2%
Amit Doshi, Lynda Blumberg
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
Parkchester Development Site | 310,525 BSF
Full city block with 4 buildings & gas station
$14,700,000
$47
Lynda Blumberg, Amit Doshi
Price:
Price/BSF:
Brokers:
2463 Valentine Avenue | 2310 Valentine Avenue
2314 Valentine Avenue | 2376 Ryer Avenue
Four walkup buildings with 95 apartments, 4 stores
$13,450,000
8.6
$162
$141,600
6.8
Amit Doshi, Lynda Blumberg
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
1115 College Avenue | 1249 Webster Avenue
Two walkup buildings with 53 apartments
$6,015,000
10.5
$121
$113,500
5.6%
Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Broker:
1022-1024 Walton Avenue
6-story building with 27 apartments, 4 stores
$4,250,000
9.1
$136
$157,400
6.6%
Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Broker:
2415 Creston Avenue
5-story building with 33 apartments
$3,825,000
8.9
$141
$115,900
5.35%
Amit Doshi, Ron Cohen
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
150 West 179th Street
6-story elevator building with 36 apartments
$4,025,000
9.7
$120
$111,800
5.8%
Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Broker:
198, 202-206 Kearney Avenue
Four buildings with 11 apartments, 2-family home
$2,850,000
10.2
$199
$259,100
8.26%
Greg Corbin, Miguel Jauregui
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
Spring 2015 | Volume 4 | Issue 10
Q1 2015 SELECTED SALES TRANSACTIONS
Clarendon Gardens Complex
7 garden apartment buildings with 224 units
$32,500,000
10
$166
$145,100
5.5%
Shallini Mehra, Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
1043 50th Street
3-story building with 6 apartments
$1,375,000
16
$229
$229,200
2.42%
Joseph Friedman
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Broker:
Arlington Village | 3100 & 3124 Atlantic Avenue
Two city blocks with 12 buildings and 210 apartments
$30,000,000
9.8
$161
$142,900
6.37%
David Davidson, Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Broker:
290 North 6th Street
2-story building with 3 apartments
$1,100,000
$763
$366,700
David Davidson, Matt Garcia
Price:
Price/SF:
Price/Unit:
Brokers:
BRONXBROOKLYN

3. Spring 2014 | Volume 4 | Issue8 Spring 2015 | Volume 4 | Issue 10
Q1 2015 SELECTED SALES TRANSACTIONS
www.besengroup.com
360, 362, 364, 366, 368 Third Avenue
Five buildings with 56 apartments, 5 stores
$49,600,000
$870
$751,500
1.5%
Dan Shapiro, Alex Frants, Matthew
Garcia
Price:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
53 West 8th Street
5-story walkup building with 16 apartments & store
$6,600,000
26
$708
$330,000
1.7%
Ishan Chhabra, Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
West Harlem Portfolio
Three buildings with 45 apartments and 2 stores
$7,500,000
11.9
$187
$153,061
5.7%
Shoy McKen
Price:
GRM:
Price/SF:
Price/Unit
Cap Rate:
Broker:
500 West 43rd Street
Net leased condo parking garage
$17,850,000
Hertz
4.7%
Jesse Cirolli-Quinones, Alex Frants
Price:
Tenant:
Cap Rate:
Brokers:
109 Madison Street
5-story building with 22 apartments, 1 store
$8,000,000
14
$620
$333,300
5.6%
Joseph Friedman, Robert Khoda
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
1356-1358 St. Nicholas Avenue
5-story building with 12 apartments and 4 stores
$6,100,000
12.7
$412
$305,000
5.3%
Amit Doshi, Shallini Mehra
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
199 Audubon Avenue
5-story building with 21 apartments and 5 stores
$5,650,000
11.7
$280
$269,000
4.77%
Shallini Mehra, Amit Doshi
Price:
GRM:
Price/SF:
Price/Unit:
Cap Rate:
Brokers:
Roosevelt Avenue
2-story corner building with 13 stores
$5,250,000
7.5
$473
11%
Abraham Aderet
Price:
GRM:
Price/SF:
Cap Rate:
Broker:
MANHATTAN
NORTHMANHATTAN
&QUEENS
Q1 2015 Q4 2014
% Change
vs. Q4 2014
Q1 2014
% Change
vs. Q1 2014
Total Volume ($B) $18.6B $17.5 6.4% $11.1B 68.1%
# of Transactions 1,254 1,364 -8.1% 1,205 4.1%
Median Price/SF $321 $312 2.8% $267 20.1%
Average Cap Rate (%) 4.2% 4.6% -8.1% 4.4% -4.3%
NYC COMMERCIAL PROPERTY SALES Q1 2015
Dollar volume and pricing for all commercial asset classes throughout New York City continued to show sharp year-over-year
increases in Q1 2015. Sales of investment property reached $18.6 million, an explosive 68% higher than Q1 2014.
Cap rate compression continued to 4.2%, down 40 basis points from the previous quarter. Velocity was relatively flat versus
Q1 2014 and down 8% from Q4. Based on performance to date, 2015 is expected to be another remarkably strong year for
investment sales in New York City.

4. Spring 2014 | Volume 4 | Issue8
Besen & Associates
Michael Besen
212.689.8488
Besen Retail
Matthew Mager
212.213.6480
Besen Capital
Angela Ortiz
646.424.5075
Chief Marketing Officer
Ronald H. Cohen
rcohen@besenassociates.com
Marketing Manager
Jared E. Rehberg
jared@besenassociates.com
We are presently recruiting Investment Sales agents.
Submit resumes in confidence to careers@besengroup.com or call (646) 424-5317.
The Besen Group
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Fifteenth Floor
New York, NY 100016
212.689.8488
212.689.8488
Please contact us for a complimentary asset evaluation.
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NYC Management
Ari Weisfogel
646.472.8726
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Editorial Team:
Besen & Associates is ranked #3 in NYC in building sales
based on the total number of transactions 2001-2014.