News:
Brokerage
Posted: November 7, 2011
Fridman of Barcel Group reps buyer in $1.715 million sale of 16-unit walk-up; Warren of Barcel Group reps the seller
The Barcel Group has completed the sale of 541 Bergen St. located in the Fort Green section. The 16-unit walk-up apartment building sold for $1.715 million.
It is located just two blocks south of the new Barclays Center, the future home of the Brooklyn Nets. This area has seen changes since the construction began.
Marcel Fridman, president and co-founder of the Barcel Group represented the buyer and David Warren of the Barcel Group represented the seller.
Fridman said, "Fort Green has seen a huge jump in residential rents in the last year. The average rent for this property was only $900 per apartment. The buyer quickly realized the opportunity for steady income, as well as future upside."
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
