News:
Brokerage
Posted: June 6, 2017
M.C. O’Brien handles all-cash sale of two contiguous properties located at 2673 and 2675 Atlantic Ave. with Sapohikov: $1.875 million
M.C. O’Brien Inc.
Brooklyn, NY According to M.C. O’Brien Inc., the firm completed the recent all-cash sale of two contiguous properties located at 2673 and 2675 Atlantic Ave. in the Broadway Junction area.
William O’Brien, SIOR was initially retained to lease the vacant ground floor space of 2673 Atlantic Ave. M.C. O’Brien, Inc. advised ownership of the current market value of the property which has surged with the city’s area up-zoning. M.C. O’Brien, Inc. began marketing both sites and in 30 days had secured multiple all-cash offers.
The ultimate purchase price for the two properties was $1.875 million. The properties sit on a 50 ft. x 112 ft. lot and with the recent new zoning will allow a 30,000 s/f mixed-use building or a community facility development of up to 40,000 s/f.
M.C. O’Brien, Inc. represented the seller and Vlad Sapohikov represented the buyer, a Queens base investor.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Columns and Thought Leadership
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,
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,
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
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
