News:
Brokerage
Posted: July 7, 2020
KZA Realty Group brokers two deals in the Bronx
Bronx, NY KZA Realty Group has secured two deals that will continue to support the area’s economic development.
“It is during these difficult times that we find ourselves coming together. For that reason, we will continue to have the Bronx’s best interest in mind and pursue avenues of opportunities despite the outbreak of COVID-19” said Kathy Zamechansky, president of KZA Realty Group.
Zamechansky represented the owner, Emanuel Kokinakas of Mega Group Inc. in the sale of 2558 Marion Ave. Nelson Castro of Diaz & Associates, purchased the property for $600,000. Thes 4,900 s/f lot contains a pre-existing storefront, parking lot, and a one-family house with additional office space.
Zamechansky also leased 1,730 s/f of commercial space at 1776 Boston Rd. Duley Paniagua of KZA represented the tenant, Rosemary Simo, M.D., in a 10-year base lease for the price of $682,109.75. Dr. Simo plans on opening her Compassionate Medical Practice in this space. She also has the option of extending the lease for another five years at the rate of $438,509.
“The 174th St. corridor (neighborhood) has experienced substantial residential growth over the last seven years. Dr. Simo’s medical practice is sorely needed in the area. Dr. Simo taking newly constructed commercial space will ensure medical services are provided in the area for years to come. Kathy and her team did a great job driving the lease to execution and providing fair terms for both the landlord and Dr. Simo” said Mark Bourbeau of Sycamore Birch Management.
The High Hawk is an eight-story mixed use affordable housing building with 72 apartments and almost 6,800 s/f of retail space. It is within walking distance to major transportation and the Bronx’s Crotona Park.
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
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,
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
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
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.
