News:
Brokerage
Posted: July 17, 2018
Greenblatt and Riney of Marcus & Millichap broker $6 million sale
Brooklyn, NY Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the U.S. and Canada, has brokered the sale of 1043 Sterling Place, a 17,320 s/f apartment building located in the Crown Heights section, according to John Horowitz, vice president, regional manager. The asset sold for $6 million.
“The sale of 1043 Sterling Place demonstrates continued strong demand for high-quality multifamily stock within this subsection of Crown Heights,” said Daniel Greenblatt who, along with Shaun Riney, represented the seller. The team also procured the buyer.
“The seller was able to exit after executing a disciplined value-add business plan. The buyer will add to an already impressive portfolio of multifamily within the submarket,” said Greenblatt.
Tags:
Brokerage
MORE FROM Brokerage
Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence
New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
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
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
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,
