News:
Brokerage
Posted: January 18, 2008
Freeman of Massey Knakal brokers $1.35 million sale of a development
Massey Knakal Realty Services has sold a tear-down, 2-family home with plans for new development at 314 12th St. in Park Slope for $1.35 million.
The 25 ft. by 100 ft. property is located on 12th St. between 5th and 6th Aves. It contains 7,500 s/f, and comes with approved plans for a four-unit elevator building. The property sold for $180 per s/f to a New Jersey developer.
"This sale benefited from the existing plans prepared by the seller by shortening the time period for the buyer to get a shovel in the ground," said Massey Knakal broker Ken Freeman, who exclusively represented the seller. "As a result, we were able to achieve a price in excess of our asking price, and above comparable sales in the neighborhood."
Massey Knakal Realty Services was the sole broker.
Tags:
Brokerage
MORE FROM Brokerage
SABRE coordinates sale of six properties totaling 199,845 s/f
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
.jpg)
Quick Hits
Columns and Thought Leadership
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
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
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.
.gif)