News: Brokerage

Horn and Boyd of Besen Special Assets sells 83,200 s/f office center for $8.5 million

Besen Special Assets arranged the sale of an REO asset located in Atlantic City by managing partner Jonathan Horn and managing director Samuel Boyd. The subject property, at the intersection of the Garden State Pkwy. and Atlantic City Expressway, totals 83,200 gross s/f and is comprised of two class B two-story office buildings totaling 41,600 s/f each. The property sold for $8.5 million. The stabilized office park, which was fully leased at the time of sale, presented the ideal opportunity for Besen Special Assets to procure the purchaser of the subject REO by introducing a private investor, whom they exclusively represent, to the seller, a regional bank represented by a third party, in an all cash deal which closed start to finish in 30 days. When speaking of the recent transaction Boyd states, "The Egg Harbor transaction once again exemplifies Besen's ability to quickly and efficiently identify, underwrite and close on even the most complex asset sales."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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 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
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