News:
Brokerage
Posted: April 16, 2019
Goldflam of Highcap Group leads team in sale of 73,000 s/f Bronx development site for $3.95 million
Highcap Group
Bronx, NY Josh Goldflam, co-founder and principal of Highcap Group, with associates Lou Corti, Guy Vardi, and Andrew Tamayo, have arranged the $3.95 million sale of 1746 Andrews Ave. South.
The seller was Andrews Development Corp., a group of private investors who have owned the property for 30 years, and the buyer was ADAPT Community Network.
The property, in the Morris Heights neighborhood, has a total lot size of 15,280 s/f and the R7-1 zoning provides an FAR of 3.44 for residential, and 4.8 for community facility for residential development. The buyer plans on building an affordable apartment building.
The sales price equates to $54 per buildable s/f.
Goldflam said, “The seller was able to peak development pricing due to the large floor plate and ability for the buyer to be able to use the community facility square footage in their development plan.”
Tags:
Brokerage
MORE FROM Brokerage
Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights
Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 723 6th Ave., a mixed-use building located in the Greenwood Heights section of the city, for $2.65 million.
Quick Hits
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
.gif)
August Promotion
