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New York-based Jacob Sofer of Madison Realties looks to transform the 21-story Downtown high-rise at 50 North Front Street into a largely residential building tentatively named the Memphis Waterfront Tower, converting the top 19 floors into 300 upper-level residential apartment units, keeping the first two floors for commercial use.

New York-based Jacob Sofer of Madison Realties looks to transform the 21-story Downtown high-rise at 50 North Front Street into a largely residential building tentatively named the Memphis Waterfront Tower, converting the top 19 floors into 300 upper-level residential apartment units, keeping the first two floors for commercial use.
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.

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Alex Adjmi's A&H Acquisitions Among 8 Mid-Market Deals


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1240 Morrison Avenue in Soundview, 1769 86th Street in Bensonhurst and 73-99 Empire Boulevard in Crown Heights (Google Maps)
Alex Adjmi’s A&H Acquisitions bought a Crown Heights warehouse, one of eight mid-market investment sales in the city last week.
Adjmi who received a presidential pardon on Donald Trump’s last day in office in January paid $15 million for the complex.
Overall, the eight deals in the city totaled $127 million, and included three industrial complexes and two multifamily buildings. The total was far higher than the previous week’s $90 million for four properties. Mid-market deals cover investment sales between $10 million and $30 million. ....

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Brookfield, All Year Highlight Mid-Market Investment Sales


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Clockwise from left: Brookfield Property Partners CEO Brian Kingston, 845 East 136th Street in the Bronx, 1010 Bedford Avenue and 120 Evergreen Avenue in Brooklyn (Google Maps; Brookfield)
The uptick in middle-market investment sales activity in the city continued last week. Six deals involving industrial and residential buildings tallied $98.9 million. It was the third week in a row that more than $97 million in transactions were recorded across the five boroughs. The deals are all between $10 million and $30 million each.
On the list last week was Brookfield Property Partners, which bought in the Bronx. Facing financial woes, All Year Management sold in Brooklyn. Brookland Capital, which has been liquidating its assets, also sold a property in the borough. ....

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