Patrick Murphy, a 27-year commercial real estate veteran, has been promoted to vice chairman at CB Richard Ellis. He will now focus his efforts on new business development, strategic planning and high-level recruitment on the N.Y.C. marketplace. He previously served as executive managing director of CBRE's N.Y. tri-state region, and will remain on the New York Tri-State Management Committee. Murphy will also maintain a presence in N.J., where he managed the CBRE office for several years.
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.
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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
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