News:
Brokerage
Posted: July 26, 2022
Fuchs and Goldberger of GFI Realty Services arrange $1.675 million sale
Brooklyn, NY GFI Realty Services completed the $1.675 million sale of 352 Palmetto St., a multifamily building comprised of six units located in the Bushwick neighborhood. GFI Realty director Zachary Fuchs and Moshe Goldberger, also of GFI Realty, represented the buyer, Kings Capital, and the seller, Simon Marom.
Constructed in 1931, the three-story building totals 4,500 s/f and is composed of six two-bedroom apartments.
“The buyers were attracted to acquiring a well-maintained asset with renovated units,” said Fuchs. “They intend to keep the asset for the long term and continue to upgrade the property.”
“The property benefits from its central location near commercial corridors, neighborhood amenities and mass transportation,” said Goldberger.
The asset is in proximity to the Myrtle Avenue commercial corridor, Wykoff Heights Medical Center, and the M subway line.
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,
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,
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
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
