News:
Brokerage
Posted: December 12, 2011
Fridman of The Barcel Group completes $1.82 million sale of eight-unit Brooklyn apartment building
The Barcel Group has completed the sale of 159 Evergreen Ave., located in the Bushwick section. The eight-unit, recently developed, apartment building sold for $1.82 million. The transaction price reflects a gross rent multiple of 8.5. Marcel Fridman, president and co-founder of the Barcel group represented all parties. Fridman said, "Bushwick has seen a huge demand for apartments recently due to the extremely high residential rents of Williamsburg."
This area of Brooklyn has seen many new developments get off the ground in the last 12 months. Lots of new high end restaurants and bars have been opening up in Bushwick.
Tags:
Brokerage
MORE FROM Brokerage
Williams Equities leases 100,000 s/f at 470 Park Avenue South
Manhattan, NY Williams Equities leased 100,000 s/f of office and retail space at 470 Park Avenue South since acquiring the building 18 months ago.
Quick Hits
Columns and Thought Leadership
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
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
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
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.