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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SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
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Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.