News:
Brokerage
Posted: June 14, 2022
Ferrara and Stenson of Brax Realty sell 3-building package for $13.5m
Manhattan, NY Michael Ferrara and Alan Stenson of investment sales brokerage firm Brax Realty completed the sale of a three-building package located in the East Village and Hell’s Kitchen neighborhoods.
The properties, 14 1st Ave., 445 West 46th St. and 215 East 5th St. sold for $13.5 million. Brax Realty exclusively represented the seller, Nesor Associates, and also procured the buyer, a private investor. This was the first time these buildings have traded hands in over 45 years.
The three-building portfolio consisted of 50 apartments and two retail units with a total of 33,490 s/f. All three buildings were walk-up properties and the package had an additional 15,309 s/f of available air rights. The properties were 94% occupied at the time of the sale.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $2.8 million sale of free-market mixed-use property in Brooklyn
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
.gif)
September Promotion
