News:
Brokerage
Posted: August 23, 2022
Khakshoor of Rosewood Realty Group facilitates $2.65 million sale
Brooklyn, NY Rosewood Realty Group brokered the sale of a mixed-use building at 590 Broadway, (corner of Walton St.) in the Williamsburg neighborhood. The sale price was $2.65 million.
The three-story, 4,350 s/f walk-up apartment building features four, two-bedroom apartments and two commercial spaces. It was built in 1931. It sold for a cap rate of 5.5%, and 14 times the current rent roll.
Rosewood’s Ben Khakshoor represented the buyer, Moses Landau and the seller, Zs 590 LLC.
“The buyer plans to hold on to the property long term and increase the rents of the free-market apartments,” said Khakshoor.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
.gif)