News: Brokerage

Agha of Largo finances $3 million first mortgage for 106-unit apartment complex

Farah Agha, account executive for the Largo Group of Companies, arranged a permanent first mortgage in the amount of $3 million to pay off the construction debt on the Riverpointe Townhomes, a 106-unit apartment complex located at 4812 University Court. The borrower acquired the property in 2006 and renovated the complex to include new roofs, plumbing, bathrooms, siding, electrical wiring, carpeting and paint. At the time of acquisition, the property was 25% occupied. Currently, the property is 92% occupied and has been for the past six months. The property benefits from its close proximity to Niagara University, situated within walking distance. All units are two-bedroom/one bath, consisting of 950 s/f. The tenant mix is 30% students and 70% families. Largo is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the U.S. and Canada. We manage the loan process from loan application through closing and service the loan throughout its term.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced