News:
Brokerage
Posted: December 15, 2020
Largo secures two loans totaling $4.7 million
Rochester, NY Ned Perlman of Largo Capital’s Buffalo office arranged a $2.4 million permanent loan for a portfolio of multifamily properties. Perlman negotiated 80% acquisition financing at a low ten-year fixed rate, 25-year amortization and no prepayment penalty.
In a second transaction, Matthew Guidarelli, vice president of originations out of Largo’s Albany office, arranged $2.3 million to refinance the existing debt on a retail/office development in Schenectady. The property features 22,989 s/f of rentable space and is occupied by a mix of national and local tenants. Guidarelli secured a competitive ten-year rate with a 25-year amortization on behalf of the borrower.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
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
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
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
.gif)