Fuchs and Doshi of Besen arrange $6.36m portfolio sale

Hal Fuchs and Amit Doshi of Besen & Associates recently arranged the sale of a portfolio of buildings in the University Heights neighborhood for $6.36 million. The two five-story walk-up apartment buildings have a combined total of 83 apartments and 295 rooms. The properties were built in the 1920s and are approximately 79,222 s/f GLA. The deal sold for 7.43 times the gross rent, with a cap rate of 9.23% and a price per s/f of $80.28. The average rent per apartment is $859.75 per month and the average rent per room is $241.89. Fuchs and Doshi represented the seller and purchaser.

Tags: Brokerage

Reprint

Previous Story Next Story

Lee & Associates NYC arranges 1,350 s/f Williamsburg lease for Molly Tea

Brooklyn, NY Lee & Associates NYC has arranged a 10-year retail lease for Molly Tea, the international floral tea brand with more than 2,000 locations worldwide, at 193 Bedford Ave. in

TF Cornerstone inks Hanover Park lease and PMG Worldwide expansion

CBRE arranges $30 million sale of former industrial building into converted multifamily property

CBRE arranges $30m sale of former industrial building into converted multifamily property

Endeavor Real Estate Group arranges $6.3 million sale of Fox Run Apartments

Endeavor R.E. Group arranges $6.3m sale of Fox Run Apts.

The Smith and Parla to anchor 42BELOW’s food scene in 17,000 s/f lease on West 41st St.

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Investment Property Realty Group represents The Vaja Group in $26.4 million acquisition of fully entitled Astoria development site

Columns and Thought Leadership

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.