News: Brokerage

Grossman of Friedland Realty completes $2.725 million industrial sale; Co-brokered with F. Rao and M. Rao of NYCRG

According to Friedland Realty Advisors, formerly NAI Friedland, a full-service commercial real estate firm, vice president Andrew Grossman, in conjunction with Frank and Michael Rao, of NYCRG, has co-brokered the sale of a 32,500 s/f industrial building. Located at 945 Nepperhan Ave., the building's previous owner, B.R.P. LLC, used the industrial building as a coffee distribution center before moving to a larger facility at 4 Warehouse Ln., a Mack Cali property in Elmsford, N.Y. also brokered by Andy Grossman. By purchasing the property for $2.725 million, Fast Linen Service, Inc. will use the space for their growing commercial laundry business. Coming from a 6,000 s/f warehouse in the Bronx, Fast Linen found the price, size and location of the property ideal for their expanding needs. The building, selling at $83.85 per s/f, offers easy access to major highways to and from N.Y.C., and is equipped with loading docks for two tractor trailers. The new owners are looking to refinish and remodel both the inside and outside, making their new, prominent location the headquarters for their company. "With few sites of this size available for sale, especially in lower Westchester, this property poses itself easily accessible to their clients," Grossman said. "The ambitious and energetic owners are already gearing up for growth based on their already successful business model and the opportunities presented at this new location."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

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
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

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,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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