News:
Brokerage
Posted: July 21, 2008
Lala of Massey Knakal reps. seller in $1.255m sale of 20,463 s/f bldg.
A four-story, walk-up apartment building at 256-258 Woodworth Ave. was sold by Massey Knakal Realty Services in an all-cash transaction valued at $1.255 million.
The 101' x 100' brick property contains 18 units of 20,463 s/f. Onsite parking lots allows parking for up to 10 cars. The transaction occurred at a capitalization of 10.31%. The property was sold to a private investor from Westchester.
"The property features circuit breakers throughout, replacement windows, a resurfaced roof and the parking lot is underutilized," said Massey Knakal partner/managing director Marco Lala, who exclusively represented the seller. "There is great upside." Massey Knakal was the sole broker.
Tags:
Brokerage
MORE FROM Brokerage
SABRE coordinates sale of six properties totaling 199,845 s/f
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
.jpg)
.gif)
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
.gif)