News: Brokerage

Masskey Knakal Realty Services completes two sales totaling $17.031m

Massey Knakal Realty Services (MK) has completed two sales totaling $17.031 million. The deals include: * The $8.581 million sale of a 40-family, vacant apartment building at 2460 Belmont Ave. in the Bronx. The 72' x 100' newly constructed property is vacant. The building contains 45,000 s/f and includes video intercom phones, a full sprinkler system and is fully abated for 25 years. It was sold to a private investor from Long Island. MK partner/managing director Marco Lala represented the seller. MK was the sole broker. * The $8.45 million sale of a mixed-use, walk-up apartment building with two retail units at 9 Christopher St. in Manhattan's Greenwich Village. In addition to the ground floor retail units there are 13 apartments, two of which are vacant. The remainder are a mix of rent stabilized and free market units. The property contains 13,710 s/f. The property was sold to a Manhattan investor. MK partner/managing director James Nelson represented the seller. MK was the sole broker.
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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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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
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.