News:
Brokerage
Posted: August 1, 2017
Mavashev of Alpha Realty negotiates $7 million sale of two Brooklyn apartment buildings
Brooklyn, NY Alpha Realty completed the sales of 5601 Snyder Ave. and 545-555 East 82nd St. located in East Flatbush neighborhood. Both properties sold for combined price of $7 million.
Alpha Realty
Lev Mavashev brokered the deal for both the buyers and the seller in this off-market transaction. Up Realty was the seller, while the buyers were two separate private local investors.
5601 Snyder Ave. is a 16-unit apartment building consisting of 12,800 s/f, sold for $3 million. And 545-555 East 82nd St. is a 26-unit apartment building consisting of 21,000 s/f, sold for $4 million. Combined, the transaction yielded $207 per s/f and a 5.6% cap rate.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Quick Hits
Columns and Thought Leadership
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 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
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.
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