News: Brokerage

MNS sells out 315 Gates; A 72-unit condominium

315 Gates, the condominium development located at the intersection of Clinton Hill and Bedford-Stuyvesant is 100% sold out. The 72-unit development was marketed exclusively by MNS. "315 Gates is just a phenomenal building, and our entire team is very proud to have been associated with such an ambitious and successful project," said Michael Brooks, executive VP of MNS and the project manager at 315 Gates. "To have the kind of success that we had in the midst of a down market speaks volumes about the quality of the project and the talent and commitment of our team." Beginning with pre-development consulting and continuing until the last sale was completed, MNS worked hand-in-hand with the developers to bring 315 Gates to life. "We've been marketing and selling new condominium developments in Brooklyn for ten years, and that experience served us well at 315 Gates," said David Behin, a consultant on the project and the president of the company's investment sales and capital advisory division. "We believed from the outset that the Clinton Hill/Bed-Stuy area had grown to a point where it was ready for a project of this caliber and that our customers would pay a premium for quality. The success of 315 Gates demonstrates that the area has become a wonderful place to live and invest for the future." Ranging from studios to two-bedroom duplexes, all of the homes feature 10-foot ceilings, oversized windows, exquisite epicurean kitchens and sophisticated bathrooms. Added bonuses include abundant closet space, central heating and cooling, a washer/dryer hook-up and pre-wiring for Verizon FIOS. Many homes feature a private balcony or terrace. In addition to the 72 immaculately designed homes, residents at 315 Gates have access to a furnished common rooftop terrace with panoramic views of the Manhattan skyline, cyberdoorman providing 24-hour virtual concierge service, refrigerated FreshDirect storage, a residents' lounge, a movie screening room, bike storage, onsite parking and private storage facilities. Located on the corner of Gates and Bedford Aves. in an area blossoming with a wide variety of neighborhood amenities, including a thriving nightlife, boutique shops and quaint restaurants, 315 Gates is within walking distance of the A, C and G trains and one block from a YMCA.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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 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
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.
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