Brax Realty

Name: Brax Realty
Address: 27 west 20th Street, #701, New York, NY, 10011, US
Telephone: +16466684803

Brax Realty is an investment real estate brokerage firm specializing in the acquisition and disposit

05/11/2026

🏗️ JUST CLOSED | Sunnyside, Queens

Brax Realty is proud to announce the successful negotiation of a Joint Venture at 39-39 Queens Blvd, Sunnyside, NY - a premier development site in one of Queens’ most active corridors.

📍 Corner lot
R7A/C1-4 Zoning
100’ x 95’ | +/- 38,000 BSF
💰 $10,800,000 | $284/BSF

This transaction was negotiated by Cole Kinney Leonhardt who represented both the Owner of the property and the developer.

01/27/2026

🚨SOLD!🚨Brax Realty is pleased to announce the successful sale of a prime development site located at 42-73 and 42-71 Hunter Street in Long Island City for $10,200,000, equating to approximately $410 per buildable square foot – a record price for the area.

The transaction was brokered by Cole Kinney Leonhardt of Brax Realty, who represented both the buyer and the seller in the sale. This transaction marks Leonhardt’s third development site sale in Long Island City, further underscoring his deep market knowledge and active presence in the submarket.

The site is located on Hunter Street between 42nd Road and 43rd Road, one of Long Island City’s most desirable and rapidly evolving corridors. Zoned M1-5/R7-3, the property allows for the development of approximately 24,885 buildable square feet of residential space. The site benefits from a 50-foot width, a highly sought-after characteristic for efficient residential development and design flexibility.

“This transaction highlights the continued demand for well-located development opportunities in Long Island City,” said Cole Kinney Leonhardt of Brax Realty. “Sites with strong zoning fundamentals, clean footprints, and proximity to transportation and amenities continue to command premium pricing.”

Long Island City remains one of New York City’s most active development markets, supported by strong residential demand, ongoing infrastructure investment, and close proximity to Midtown Manhattan.

09/05/2025

Michael Ferrara, Managing Principal and Cole Kinney Leonhardt, Investment Sales Associate of Brax Realty are pleased to announce the sale of 174-176 5th Avenue for $13,200,000.

The office building is located directly across the street from the Flatiron building between 22nd Street and 23rd Street and this was the first time the building has traded hands in over 55+ years!

174 5th Avenue spans 43 feet in width and offers exceptional retail frontage along 5th Avenue, with tenants such as Eisenberg’s Sandwich/S&P and State & Liberty.

This is Michael Ferrara’s 3rd sale on 5th Avenue since 2021:

Sold 260 5th Avenue for $ 52,500,000 ($877/SF)

Sold 10 5th Avenue for $ 15,000,000 ($1,185/SF)

Sold 174 5th Avenue for $ 13,200,000 ($611/SF)

04/16/2025

🚨 SOLD ‼️ 🚨

1873 Lexington Avenue, 149 East 116th Street, 151 East 116th Street, 175 East 116th Street & 220-20 Merrick Boulevard

First sale in over 30 years. This portfolio was strategically divided into three separate transactions to optimize returns for the seller. The buildings were delivered majority vacant to appeal to a broader range of buyers and to provide investors with the opportunity to execute a value-add strategy.

Alan Stenson exclusively handled the sale of this portfolio.

03/06/2025

🚨 SOLD!! 🚨 Alan Stenson, Senior Director of Brax Realty is pleased to announce the successful sale of a multi-family building located at 315 East 51st Street in Midtown East, just off 2nd Avenue. The property, spanning 5,760 square feet, falls under Tax Class 2B and features seven apartments.

02/06/2025

🚨 SOLD!! 🚨 150 N 9th Street | Williamsburg

Sold by Alan Stenson

- Between Bedford and Berry
- 5,500 SF
- 8 Apartments
- Tax Class 2B

Sold for $1,545/SF!

11/27/2024

🚨 SOLD ‼️ 🚨 Michael Ferrara and Cole Kinney Leonhardt represented both the seller and buyer in this transaction. The property, 10-37 & 10-45 49th Avenue, was located in Long Island City and was delivered vacant upon sale. The 12,000 SF lot had a zoning of M1-4/R6B, LIC allowing the property to be developed up to 24,000 SF. This equated to $350/BSF!

10/23/2024

🚨 SOLD!! 🚨

Alan Stenson, Senior Director of Brax Realty, is pleased to announce the sale of 175 East 116th Street located in East Harlem for $1,925,000. The property is located between Lexington Avenue and Third Avenue and consists of +/- 3,825 SF. The property has 1 retail store which is currently occupied by H&R Block, a commercial space on the 2nd floor that was delivered vacant along with two apartments on the 3rd and 4th floors which are free market and were also delivered vacant upon sale. The property benefits from being Tax Class 2A which state law limits how much the assessed value can rise each year – no more than 8% from the year prior or 30% over five years. Stenson exclusively represented the Seller, a long-term family and also procured the buyer, an all-cash local real estate investor. This was the first time the property has traded hands since 1974!

09/26/2024

🚨SOLD!!🚨 Michael Ferrara and Cole Kinney Leonhardt sold 317-319 East 14th Street located between 1st Avenue and 2nd Avenue. The two-building package had a total of 11,425 SF and 24 Apartments with 2 Retail stores. This was the first time these buildings have traded hands since 1968!

06/11/2024

🚨 SOLD!! 🚨Michael Ferrara, Managing Principal of Manhattan based Brax Realty is pleased to announce the closing of 142-06 41st Avenue in Flushing, Queens for $5,000,000.

Ferrara exclusively represented the seller, The Bauer Family, and also procured the buyer, a private investor. The L-shaped property has frontage on both 41st Avenue and Union Street and consists of +/- 3,725 SF. It is currently occupied by “Goowha Market” a subsidiary of H-Mart – a local grocery store servicing the community. The property has an R7-1 zoning and a total lot size of 4,810 SF. Since the lot fronts a wide street, the total FAR of the property is 4, allowing the property to be built up to +/- 19,096 square feet at some point in the future. This is the first time the property has traded hands in over 55 years.

Address

27 West 20th Street, #701
New York, NY
10011

Telephone

+16466684803

Website

http://www.braxrealty.com/

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