Alpha Realty
News:
Brokerage
Posted: January 9, 2018
Mavashev and Schwartz of Alpha Realty broker two off-market transactions in the Bronx totaling $9.6 million
Alpha Realty
Alpha Realty
Bronx, NY Alpha Realty has completed the sale of 735 East 182nd St. and 833 Longfellow Ave. totaling $9.6 million. Lev Mavashev and senior associate Scott Schwartz handled the off-market transactions.
833 Longfellow St., a 26-unit walk-up building in the Hunts Point section, sold for $5.875 million, achieving a 12x gross rent multiple and 6.5% rate. While 735 East 182nd St., a 21-unit walk-up building in the Belmont section, sold for $3.7 million achieving a 10.5x gross rent multiplier and 6.2% cap rate.
“Every day, I am fielding more and more inquiries from investors about properties in Bronx. There is still great potential value out there despite the recent run-up in prices.” said Mavashev.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
.gif)
Columns and Thought Leadership
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
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.
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
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,
.gif)