News:
Brokerage
Posted: April 14, 2017
Klosed Properties acquires six-family property in Brooklyn: 272 Himrod St.
272 Himrod Street - Brooklyn, NYBrooklyn, NY According to Klosed Properties, it has purchased 272 Himrod St., a six-family property in the Bushwick neighborhood. Four of the units were delivered vacant at closing. Klosed plans to add value by renovating the vacant apartments.
The sale price was $1.8 million.
According to Ryan Powers-Tapp, senior director of acquisitions, “Bushwick is a market we’ve always been interested in. We just needed to get in at a low enough basis not to be affected by what we call investor price inflation. This piece will be a great addition to our growing Brooklyn portfolio.”
This closing marks the firms third acquisition this year.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
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,
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
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
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
