ACR handles two retail leases at Regency Village totaling 2,400 s/f
American Commercial Realty Corp. (ACR) has completed the following two leases totaling 2,400 s/f at the Regency Village:
* A new lease to Singing Sam's, an Italian Restaurant and Pizza store, for 1,200 s/f.
* A new lease to expand existing tenant, Sony Expo, by 1,200 s/f.
Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 709 Fulton St., a mixed-use building located in the Fort Greene section of the city, for $3 million.
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Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
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