News:
Brokerage
Posted: May 26, 2008
Biniszkiewicz of Pyramid brokers $1.2 million sale
Bob Biniszkiewicz from Pyramid Brokerage Co., a Cushman & Wakefield Alliance member, brokered the sale of the Packard Building located on 1325 Main St. Regan Development who acquired the three-story, 70,000 s/f building for $1.2 million plans to redevelop the property into 40 apartments that will be marketed to subsidized tenants. This deal is Regan's first in the area.
Regan plans to invest $9.5 million into the project. The first floor will be used for commercial space. The development plan features one studio apartment, 11 one-bedroom units, 24 two-bedroom units and four three-bedroom units.
The project team includes: Resetarits Construction Corp. as the general contractor and Hamilton Houston & Lownie Architects LLC as the project architect.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
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,
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
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
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
