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
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

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,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

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
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