News: Brokerage

Klosed Properties buys 13,245 s/f Bronx building for $1.75 million

Bronx, NY Klosed Properties’ Steven Kachananian and Adam Hajibai completed the acquisition of 336 East 166th St. The sale price was $1.75 million.

The property is located on the corner of Teller Ave in the Concourse neighborhood. It consists of 15 apartments across 13,245 s/f. Steven Makowsky was the seller.

“We are excited to add 336 East 166th St. to our growing Bronx portfolio. This was an opportunity for us to purchase a great asset at a good basis in a market that we understand. We are aggressively looking for similar deals in the area” said Klosed Properties’ vice president of acquisitions, Shawn Aziz.

Klosed Properties currently has 12 deals closed and 7 deals under contract with a total volume to date of $146,172,000.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

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.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their