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Brokerage
Posted: June 5, 2009
Kunofsky of Marcus & Millichap's Manhattan office brokers $2.4m sale
Marcus & Millichap Real Estate Investment Services has sold the Lone Star Steakhouse & Saloon, a 7,061 s/f single-tenant net-leased property, according to Edward Jordan, regional manager of the firm's Manhattan office. The sales price was $2.4 million. Glen Kunofsky, senior VP investments and a senior director of the firm's national retail group and net leased properties group in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller. The buyer was secured and represented by Brian Parmacek, senior associate, and Stephen Rachman, VP investments, both of Marcus & Millichap's Chicago downtown office.
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Quick Hits
Columns and Thought Leadership
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
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
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.
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
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