News: Brokerage

Massey Knakal Realty Services brokers five sales totaling $17.211m

Massey Knakal Realty Services (MK) has completed the sale of five properties totaling $17.211 million. The transactions include the following: * The $5.35 million sale of a 3,485 s/f property with two floors of retail and two floors of apartments at 1049 Lexington Ave. MK broker Guthrie Garvin represented the seller. MK and Cathy Franklin of Brown Harris Stevens were the brokers. * The $4.3 million sale of a five-story townhouse at 312 West 88th St. The building is configured as 10 rental apartments. The property contains 6,090 s/f. MK broker Meyrick Ferguson, represented the seller. * The $4.25 million sale of a residential development site with a footprint of 12,500 s/f at 88-96 Withers St. in the Williamsburg section of Brooklyn. The property is fully built with three vacant warehouse buildings in an MX (M1-2/R6) zone, allowing for residential development. The property contains 29,936 buildable s/f. MK broker Mark Lively represented the seller. * The $2.5 million sale of a three-story, 14,226 s/f mixed-use building at 133 Hillside Place, Eastchester. MK managing director/partners Marco Lala and James Nelson represented the seller. * The $811,000 sale of a 75-ft. wide industrial development property at 57-29 58th St. in the Maspeth section of Queens. The property has a total footprint of 7,500 buildable s/f. Located in an M1-1D zone, the property was sold to a Queens developer who plans to erect a small warehouse on the space. MK broker John Falco, represented the seller.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

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.
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

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,
Strategic pause - by Shallini Mehra and Chirag Doshi

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