News:
Brokerage
Posted: January 4, 2008
Fuchs and Weiss of Besen handle $5.85 million sale of 48-apartment property
Hal Fuchs and Ben Weiss of Besen & Associates recently represented the seller and buyer in the sale of 2828 Kings Hwy. for $5.85 million. The subject property is a six-story elevator apartment building with 48 apartments. The property was built in 1937 and has 46,800 s/f GLA. The property sold for 12.45 times the gross rent, with a cap rate of 4.59%, price per s/f of $125, and a price per unit of $121,875. The average rent per apartment is $815.63 per month and the average rent per room is $218.72.
David Moll of David Moll Associates represented the seller.
Tags:
Brokerage
MORE FROM Brokerage
Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights
Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 723 6th Ave., a mixed-use building located in the Greenwood Heights section of the city, for $2.65 million.
Quick Hits
Columns and Thought Leadership
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
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.
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
.gif)
August Promotion
