News: Brokerage

Malagisi of SVN Commercial Real Estate facilitates 532-units self storage; Hardisty of SVN Kingston asissts

Hawthorne, NY Nick Malagisi, SIOR and national director self storage for SVN Commercial Real Estate Advisors, has facilitated the sale of the Goodfriend Self Storage facility located at 130-159 Brady Ave. The sale price was $14.1 million.

The facility was recently renovated by the owner to include climate control units, installation of lifts to access the 2nd floor units, and various other imporvements and then rebranded.  The facility has 532 rental units within 40,542 s/f. Malagisi was assisted in the sale by Hans Hardisty of the SVN Kingston office. The buyer is a California-based national operator and this is their first acquisition in the Metro NY area. The seller was a local partnership.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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
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.
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,