Cokin of NAI Friedland brokers $14m sale of 193,000 s/f industrial property

NAI Friedland Realty completed the $14 million sale of a 193,000 s/f industrial property at 2338 Hermany Ave. in the Parkchester section. The site is being converted into a lot for school buses and other vehicles. Peter Cokin, executive VP for NAI Friedland, was the exclusive broker for the contract vendee, Atlantic Development, an affordable housing developer. The purchaser, Clarendon Holdings, was represented by Crosstown Realty in Queens. The deal was complicated by the presence of a negotiated contract for the purchase of the property two years prior. When needs of the original buyer changed, Cokin was hired to sell their position in the contract. "Peter has successfully navigated prior real estate and business ups and downs and was able to help the parties overcome the challenges of today's tight credit market," said Stephen Oder, CEO of NAI Friedland Realty.