News: Brokerage

EPIC sells Ridgewood Apartment building for $1.15 million

EPIC Commercial Realty, formerly Itzhaki Properties, arranged the sale of 559 Seneca Ave. Located on a tree lined block between Bleecker and Menahan Sts., the three-story, walk-up, six-unit apartment building was delivered with only one vacancy. The building was in incredible condition with most of its apartments recently renovated to have exposed brick and modern kitchens creating a fusion of the historic charm of Ridgewood with modern luxury. 559 Seneca Ave is found in Ridgewood close to the Bushwick boarder, just four blocks from the Seneca Ave M train stop. The property is found in a part of Ridgewood that is full of mom and pop shops, a characteristic the neighborhood is known for. Not only is the property surrounded by plenty of retail but there are four schools and three playgrounds all within walking distance. "We have been seeing many Bushwick investors making aggressive offers all over Ridgewood as the rental market in Ridgewood grows stronger. We sent out a contract within 24hrs of bringing in this deal. We see only good things in the future for Ridgewood," said Baruch Edelkopf. The sale was brokered for $1.15 million by EPIC CEO Yona Edelkopf and sales associates Baruch Edelkopf & Mike Rybinskov.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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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
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
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,

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.