Israel Carmel pays $12M to Victor Weingarten for property in Mott Haven

Israel Carmel through the entity 99 Evergreen, LLC paid Victor Weingarten’s 185 Csw Realty LLC $11.6 million for 175 Canal Street West in Mott Haven. The deal closed on September 19, 2019, and was recorded on September 25, 2019. The transaction consists of 1 parcel, including the tax class fireproof warehouse (E1). The property is 114,996 square feet. The parcel(s) have total development potential of 114,996 square feet.
The average sale price per square foot is $151.
The estimated cap rate is 3.7%
The last time the property sold was July 25, 2013, for $4,250,000.

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