News: Brokerage

Largo Real Estate Advs. finances three deals totaling $3.956 million

Largo Real Estate Advisors, Inc. has completed three deals totaling $3.956 million. The transactions include: * A $1.688 million permanent first mortgage arranged by Jack Phillips, account executive for Largo. The financing is for a newly constructed Penfield Medical Office building located at Transit Rd. The project consists of 9,000 s/f and is 100% occupied by All Care for Women. Phillips secured a 10-year fixed rate loan with a 27.5 -year amortization schedule for the borrower. * A 1.688 million permanent first mortgage arranged by Frank Giacobbe, account executive for Largo. The financing was placed for the U-Store-It Self Storage located in Endicott. The property has 298 storage units and two apartments totaling 36,120 s/f and features a perimeter security fence with electric key pad access, as well as an onsite rental office. Giacobbe secured a 20-year fixed-rate loan, with four rate resets every five years and a 25-year amortization schedule for the borrower. * An advance of funds on the existing mortgage in the amount of $580,000 secured by Farah Agha, account executive for Largo. The funds are for a Small World Daycare facility located in Wheatfield. Originally the daycare was 3,600 s/f; however, the borrower has recently completed a 2,500 s/f addition. Small World Daycare is situated in the Woodlands Corporate Park. Agha secured a seven-year, seven-month fixed rate loan co-terminus with the existing debt and a 22-year amortization schedule for the borrower.
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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.
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Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

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.
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 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

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