News: Brokerage

Majerovsky of Citywide Properties completes a 5 year, 13,000 s/f lease

Sasha Majerovsky of Citywide Properties, Inc. has completed a 15 year lease with 5 year option  for 13,000 s/f encompassing the entire 2nd & 3rd floors  at 202 Centre St. with Lower Manhattan Dialysis Center, a medical office and dialysis facility founded in 1971. Following a year long search, Lower Manhattan Dialysis Center had turned to Sasha Majerovsky of Citywide for their space search.With full understanding of their extremely  specific needs and strict requirements of this unique client and not exceeding their price range, Sasha brought to their attention 202 Centre St.,a 6 story corner building built in 1912 with asking rents of in the $40's per s/f. Located in the SoHo submarket, and in close to Chinatown (one major requirement for them) and to their former location at 150 Lafayette St., the space fit their criteria in every way said Sasha. Though details of the transaction were undisclosed, Sasha said this was a very complex transaction with a lot to iron out, such as creating a separate entrance with new lobby and elevator for them on the Hester St. side, which is why the deal took a few months to consummate. Overall, the landlord is very pleased to have a tenant of that caliber. The landlord was represented by Centre Hester Realty LLC.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

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
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

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,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.