News:
Brokerage
Posted: September 28, 2010
Gammino of Massey Knakal brokers $2.438 million mixed-use building sale
A mixed-use building at 331 East 81st St., located between First and Second Aves., was sold in an all-cash transaction valued at $2.438 million.
The five-story walk-up building is 8,620 s/f, sits on a 25 ft. x 102 ft. lot, and has 1,600 s/f of air rights. It currently contains eight residential units and two commercial units. The building was delivered vacant with the exception of one residential unit and one month to month commercial tenant.
"The building was bought by a local investor that intends to gut, renovate and reconfigure the property," said Massey Knakal vice president of sales Thomas Gammino Jr., who represented the seller.
Tags:
Brokerage
MORE FROM Brokerage
Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons
Middle Island, NY Roger Delisle and Robert Monahan of Island Associates negotiated the lease for the Giunta’s Meat Farms to occupy 45,000 s/f at Strathmore Commons.
.jpg)
Quick Hits
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
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,
.gif)