City Urban Realty acquires Brooklyn mixed-use building for $12 million

Brooklyn, NY Michael Alvandi’s City Urban Realty, landlord and developer, has closed on the $12 million purchase of a six story mixed-use building along Bedford Ave. in the Williamsburg neighborhood.

326 Bedford Ave. is located at the corner of South 2nd St. Totaling 26,000 s/f, the building has 32 apartments as well as ground-floor retail including Oslo Coffee Roasters.

Positioned between two major subway lines, the property will continue to thrive following the pending closure of the L-train for Sandy-related repairs as commuters will migrate south from northern Williamsburg to be closer to the J, M, Z subway line helping spur further growth in the surrounding area.

City Urban Realty, founded by Michael Alvandi in 2010, is a diversified real estate investment company involved in the investment, ownership and management of commercial and multifamily properties.

Tags: Brokerage

Reprint

Previous Story Next Story

AmTrustRE completes $211m acquisition of 260 Madison Ave.

Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring

Area 15 welcomes new tenant openings, signs more experiences coming

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

Polsinelli and Curcio of Compass arrange 22,000 s/f Urban Umbrella lease

Project REAP honored by ICSC for leadership and impact in Commercial Real Estate

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Construction Design & Engineering

Troutbrook expands with boutique condo project and Marriott Fairfield Inn & Suites renovation

Columns and Thought Leadership

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,

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

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

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.