News:
Brokerage
Posted: January 14, 2025
Endeavor Real Estate Group brokers $7.19 million sale of 39 unit multifamily property
Pittsford, NY Endeavor Real Estate Group negotiated the sale of Pittsford Manor Apartments, a 39-unit garden style apartment complex. The purchaser, a west-coast based family office, and the seller, an investment group headquartered in New York City, traded the property for $7.19 million in a transaction arranged by Endeavor.
The acquisition, at a price per door north of $184,000, represents a new record for the highest sale price per unit for this vintage of multi-family product in the county. Endeavor’s advisory team was led by managing principal James Buckley.
Built in 1965, Pittsford Manor Apartments features two-bedroom apartment units, 75% of which were recently renovated. The property experiences consistent occupancy, strong leasing demand, and has superb site demographics.
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
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
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,
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
