News:
Brokerage
Posted: March 20, 2018
Mavashev of Alpha Realty brokers off-market sale of 50 units – $11.3 million off-market transaction
Brooklyn, NY Alpha Realty completed the sale of 1193, 1199, and 1205 Eastern Parkway for $11.3 million. The 3 contiguous buildings on Eastern Parkway are located in Crown Heights neighborhood. The properties, all four-story walk-up buildings, combined consist of 50-units and 55,000 s/f. The deal price achieved a 15x rent multiple and equated to $205 price/s/f.
Alpha Realty
Alpha Realty’s managing partner Lev Mavashev negotiated the off-market deal. The buyer is NY-based multifamily operator Albert Srour, while the seller is STF 1193-1205 Eastern Pkway. Holding, a local private investor.
“Buyer was searching to acquire a well-located asset with such upside potential and quickly recognized the opportunity in this deal.” said Mavashev.
Tags:
Brokerage
MORE FROM Brokerage
Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million
Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
.jpg)
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
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
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
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)