News: Brokerage

Flaherty, Reynolds, Parsons and Williams of IPRG sell development site in Hunter’s Point for $3.6 million

Queens, NY Investment Property Realty Group (IPRG) negotiated the closing of 51-09 2nd St. in Hunter’s Point for $3.6 million. This property is located on the corner of 51st Ave. and 2nd St. The property offers 12,000 buildable s/f and was delivered vacant. It is zoned M1-4/R6B, LIC with an FAR of 2.0.

51-09 2nd St. was sold by Ed Monaco to Daniel Kaykov of Renovation Group. IPRG brokers Donal Flaherty, Tom Reynolds, Richard Parsons, and Jackson Williams represented the buyer and the 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,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

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

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
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