Klosed and Kassin Sabbagh buy NoHo retail investment for $2.5m
BROKERAGE Buono of Island Assocs. sells 4,775 s/f mixed-use for $1.375m
MANHATTAN, NY Klosed Properties, in partnership with Kassin Sabbagh Realty, has acquired a retail coop- erative leasehold at 659 Bdwy. in the NoHo Historic District for $2.5 million — below its previous $6 million trade — securing a vacant storefront with upside in one of the city’s most active retail corridors. The 4,748 s/f space spans 1,938 s/f at grade, an 872 s/f mezzanine, and a 1,938 s/f lower level. Deliv- ered vacant, the asset offers full flexibility for repositioning and lease-up. The property features 40-ft. of glass frontage along Broadway, 17’5” ceiling heights, and is at the base of The Bleecker Court, a 243-unit residential cooperative. The location benefits from foot traffic, proximity to New York University, and co-tenancy with HALFMOON, NY JLL Capital Markets arranged the sale of The Kensing- ton at Halfmoon, a 200-unit, gar- den-style multifamily community. JLL worked on behalf of the sell- er, Richbell Capital. The buyer was MLG Capital. JLL also advised the buyer on the acquisition financing. JLLCapitalMarket’sinvestment sales and advisory team included
EAST ISLIP, NY Richie Buono of Island Associates Real Estate brokered the $1.375 million sale of 87–89 West Main St. Buono represented the seller D’Andrea Brothers LLC, and purchaser JORE2 LLC. The 4,775 s/f two-story mixed- use property consists of two retail tenants and three residential apart- ments located on the second floor. The building was recently ren- ovated in 2023 inclusive of both retail stores, complete new exterior, new mechanicals, and updated all NEW YORK, NY Access Point, an Atlanta-based company, has made a new investment supporting the acquisition and rebranding of a 38-hotel portfolio. The strategy is focused on converting the assets to Studio 6 properties and deploying technology-driven efficiencies in - tended to improve margins within 90 days. The transaction is backed by total capitalization of $375 mil- lion, including $286 million in senior debt provided by Citi and a subordinate mezzanine investment from Access Point. Access Point
the apartments. The sellers D’Andrea Brothers LLC engaged a reverse 1031 exchange in order to purchase the former Capital One bank building in Sayville.
Access Point makes investment in 38-hotel portfolio and value-add conversion initiative
659 Broadway - Manhattan, NY
FOR FULL STORY VISIT NYREJ.COM The portfolio repositioning plan centers on rebranding the acquired properties to Studio 6, alongside the deployment of operational technol- ogies designed to reduce expenses and enhance property-level perfor- mance. The initiative is expected to deliver margin expansion shortly after implementation. underwrote, documented, and funded its investment on an ac- celerated timeline, demonstrating the firm’s ability to move quickly and deliver certainty of execution in complex transactions.
national retailers including Kith, Adidas, Equinox, and Starbucks.
It is also steps from the B, D, F, M, 6, N, and R subway lines.
JLL Capital Markets arranges sale of The Kensington at Halfmoon
senior managing directors Steve Simonelli and Jose Cruz, along with director Austin Pierce. The Kensington at Halfmoon is located at 1 Kensington Ct. in Clif- ton Park, 12 miles north of Albany and 10 miles south of Saratoga Springs. The property is adjacent to highways including Rte. 9 and the Northway (I-87), providing
connectivity to employers like GlobalFoundries, General Electric and St. Peter’s Health Partners throughout the Albany-Schenect- ady-Troy metropolitan area. The Capital Region of N.Y. has transformed into “Tech Valley” through state and federal invest- ments in advanced manufacturing and semiconductor research.
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6 May 12, 2026
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