News:
Brokerage
Posted: March 21, 2011
Horn, Kelly and Leary of CPEX broker $151,000 sale
Brooklyn , NY The CPEX Real Estate Development and Conversions team has arranged the sale of a development site located at 679 Quincy St. in the Bedford Stuyvesant neighborhood. The property featured a vacant lot with 5,500 buildable s/f.
This was an all cash transaction with a sale price of $151,000, equivalent to $27.45 per buildable s/f. The Development and Conversions investment sales team of Alex Horn, Sean Kelly and Brian Leary represented the seller.
The buyer is a local developer, and plans to build a four-story residential building on the site. CPEX was the sole broker in this transaction.
"This transaction is a major milestone, reflecting that smaller local developers are actively purchasing land and doing infill development projects," said Leary.
CPEX was founded in September 2008 by Timothy King and Brian Leary, two prominent leaders in the New York City commercial real estate industry. The principals have provided a broad range of real estate and business services locally, nationally and internationally.
They provide a full range of services for both real estate and business owners, through their innovative operating platform and entrepreneurial culture. CPEX implements a team-based approach in which each group is focused on a specific business line, product type and definitive specialization for each market. Their services include sales, leasing, acquisitions and advisory.
Tags:
Brokerage
MORE FROM Brokerage
Dogtopia joins growing tenant mix at Brunswick Shopping Center
North Brunswick, NJ Dogtopia, a leading provider of dog daycare, boarding and spa services, has signed a lease to open a new 5,081 s/f location at Brunswick Shopping Center. The new location further
Quick Hits
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi
Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
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
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron
When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
.gif)