News:
Brokerage
Posted: May 28, 2013
Lundberg and Riney of Marcus & Millichap arrange $1.225 million sale of nine-unit apartment building
Marcus & Millichap Real Estate Investment Services has brokered the sale of 363 South 4th St., a nine-unit apartment building, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $1.225 million
Erik Lundberg and Shaun Riney, investment specialists in Marcus & Millichap's Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Lundberg and Riney.
Lundberg said, "363 South 4th St. commanded a sale price of over 12 times the gross rental income. We successfully achieved a strong price for a rent stabilized asset freshly released from Section 7A."
Tags:
Brokerage
MORE FROM Brokerage
Residential real estate consultancy and brokerage firm Nancy Packes, Inc. rebrands as NPI
Manhattan, NY The NYC-based premier residential real estate consultancy and brokerage firm, Nancy Packes Inc., has rebranded as NPI. Helmed by Seth Rosner, most recently the firm’s managing partner and now president, the company has been intricately involved in hundreds of Tri-State new developments and conversions, spearheading the full project life cycle, from assessment/pre-dev.
 (2).gif)
Columns and Thought Leadership
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
.gif)