News:
Brokerage
Posted: November 8, 2022
GreyHill Group acquires 64,536 s/f industrial building from Perry
Rochester, NY GreyHill Group has acquired a 64,536 s/f industrial property at 69 Seneca Ave.
The one-story building is located in one of the city’s busiest commercial areas. The property consists of three warehouse spaces and one office space, currently occupied by the anchor tenant, Roc Environmental and tenant, Geva Theater Company.
“We are very excited about expanding into Rochester, particularly with an industrial property” said Moshe Bloorian, GreyHill’s managing partner and founder. “We have acquired over 500,000 s/f over the past year within the industrial space. But what makes this deal special is the fact that we secured seller financing with the seller at incredible terms compared to the market.”
GreyHill Group purchased the property from Kevin Perry for $2.295 million.
Both buyer and seller were represented by Marco Muoio of Off Market Street Real Estate Advisors.
The listed price was $3.8 million when the property had first been listed earlier this year.
GreyHill’s Bloorian had begun making investments in Albany and Troy in 2017. The company’s portfolio includes several assets in Troy as well as in Connecticut. The company now owns more than 400 apartments and 800,000 s/f of industrial space.
Tags:
Brokerage
MORE FROM Brokerage
Devli Real Estate acquires 67,000 s/f flex industrial property on Rte. 17 in Upper Saddle River
Upper Saddle River, NJ Devli Real Estate acquired 118 Rte. 17 North, a 67,000 s/f flex industrial/retail asset situated on 6.3 acres with highway frontage. The property is positioned along
Columns and Thought Leadership
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,
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,
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
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
