News: Brokerage

Bestreich Realty Group sells three buildings for total $10.55 million; $5.35 million deal handled by Bestreich, Sproviero, Waring and Lobel

Derek Bestreich,
Bestreich Realty Group

 

Luke Sproviero,
Bestreich Realty Group

 

Adam Lobel,
Bestreich Realty Group

 

Brooklyn, NY According to Bestreich Realty Group, the firm has completed three sales totaling $10.55 million. 

871 Park Place - Brooklyn, NY

• $5.35 million sale of 871 Park Place, an eight-unit building in Crown Heights containing 6,880 s/f. Derek Bestreich, Luke Sproviero, Toby Waring and Adam Lobel represented the buyer and seller. 

251 Bushwick Avenue - Brooklyn, NY

• $2.8 million sale of 251 Bushwick Ave., a mixed-use property in Williamsburg containing 5,800 s/f. Bestreich, Sproviero, Donal Flaherty, Hakeem Lecky, and Justin Zeitchik represented the buyer and seller. 

173 Conselyea Street - Brooklyn, NY

• $2.4 million sale of 173 Conselyea St., a 7,500 buildable s/f development site in Williamsburg. Bestreich, Sproviero, Lecky, Zeitchik, and Flaherty represented the buyer and seller.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,

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
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
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.