Carlyle Group pays $26M to Criterion Group, Cactus Holdings for properties in Brooklyn, Harlem

The Carlyle Group paid $26 million to the Criterion Group and Cactus Holdings for properties in Brooklyn and Harlem in two separate transactions.

In the first, Carlyle Group through the entity 1203 E New York Ave Owner, L.L.C. paid Criterion Group and Cactus Holdings’s Beef Storage Partner LLC $13 million for 1203 East New York Avenue in Ocean Hill. The deal closed on November 4, 2020, and was recorded on November 19, 2020. The transaction consists of 1 parcel, including the tax class one-story store building (K1). The property is 20,400 square feet. The parcel(s) have total development potential of 85,160 square feet.
The average sale price per square foot is $153.

Criterion Group filed plans in June 2019 http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?passdocnumber=1&passjobnumber=321593771&requestid=4 for an 88,698-square-foot warehouse building. Those plans were permitted in June of 2020. The signatories for the sellers were Shibber Khan, Peter Castellana and Michael Castellana. Peter Castellana is a principal with Cactus Holdings, https://www.linkedin.com/in/peter-f-castellana-iii-b80140105/which is affiliated with Western Beef. https://www.cactusholdings.com/ The signatory for Carlyle was Jason Hart. The contract date was November 3, 2020, the same as the closing date.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 88,698 square feet. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second transaction, Carlyle Group through the entity 280 W 155th Street Owner, L.L.C. paid Criterion Group’s Cactus Of Harlem, LLC $13.0 million for 216 West 155th Street in Central Harlem. The deal closed on November 4, 2020, and was recorded on November 19, 2020. The transaction consists of 1 parcel, including the tax class licensed parking lot (G6). The property is square feet. The parcel(s) have total development potential of 79,928 square feet.
The average sale price per square foot is $163.

The contract date was November 3, 2020, the same as the closing date. The last time the property sold was May 2, 2005 for $1,028,896.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Jason Hart