News: Spotlight Content

Bent of Charter completes sale of the 50-unit Northtowne Manor Apartments for $1.6 million

The Northtowne Manor Apartments have recently sold for $1.6 million. The 50-unit complex has ten buildings consisting of 27 one-bedroom, 21 two-bedroom, one studio, and one office. The buildings are garden-style brick with pitched/shingled roofs. The property was built in 1972 and has easy access to I-90. The buildings are 35,000 s/f and are situated at Latta Rd, and Dewey Ave. The seller was represented exclusively by Jack Bent, a commercial real estate consultant at Charter Real Estate Brokerage, and the buyer was Frontier Communities. Charter has in-depth expertise in every area of real estate buying, selling and leasing, and incorporates all sizes, as well as, all types of real estate transactions.
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When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
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Columns and Thought Leadership
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

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Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but