News:
Brokerage
Posted: September 9, 2025
Houlihan Lawrence Commercial facilitates sale of 13-unit Marina Court for $11 million
Mamaroneck, NY The Scrima Gorman Real Estate Team at Houlihan Lawrence Commercial brokered the sale of a multifamily building, Marina Court, located at 422 E Boston Post Rd. The seller and buyer were both represented by Michael Scrima and Tom Gorman. The seller was Elk Homes LLC.
Built in 2017 by Elk Homes, Marina Court’s average rents are north of $6,000 a month. The 13-unit building traded for $11 million or $846,156 per unit, which is a record for the town and the second highest price per unit in Westchester County.
This transaction underscores the resilience of the Westchester County commercial real estate market and the strong demand for high-quality multifamily properties in the region. Moreover, they have seen many investors shift their focus to new construction, class A buildings — partly driven by New York State’s increasingly restrictive rent laws.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
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,
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 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.
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