News:
Brokerage
Posted: June 14, 2021
Kings Capital acquires Manhattan multifamily for $5.5 million
Manhattan, NY Kings Capital has acquired a 9,200 s/f mixed-use property located at 140 Mulberry St. for $5.5 million.The property consists of nine residential apartments and one retail store spanning two buildings. This sale marks the first sale of the building in over 60 years.
Located in the Little Italy neighborhood, at the border of Nolita and Soho, 140 Mulberry St. is close to restaurants, bars, shopping, and public transportation.
After concentrating primarily on Brooklyn multifamily, Kings Capital found an opportunity to acquire its first multifamily in the borough at the height of the pandemic.
“While New York City commercial real estate appeared to slow down, and there was much uncertainty in the marketplace, we viewed that as an opportunity to be aggressive and acquire our first multifamily property in Manhattan mid-pandemic. We believe in New York’s resilience, and long term growth and will be aggressively looking to acquire a few more assets by years-end,” said George Giannopoulos.
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.
Quick Hits
 (2).gif)
Columns and Thought Leadership
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
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
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
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.
.gif)
September Promotion
