News:
Brokerage
Posted: December 11, 2012
Modell of Ariel and Hornstock of ABS Partners handle $5.75 million sale
Randy Modell, vice president of Ariel Property Advisors, and Steven Hornstock, a partner with ABS Partners Real Estate, have brokered the sale of a development site at 3019 Northern Blvd. in Long Island City for $5.75 million. The transaction originated when Modell was with ABS Ptrs.
Modell and Hornstock represented the seller, a private owner who previously ran a medallion (yellow) taxicab business from the site, and the buyer, Storage Deluxe, which operates self-storage facilities in Brooklyn and Queens. Zoning for the site will allow Storage Deluxe to construct a self-storage facility with 120,000 buildable s/f.
"The site's close proximity to the Upper East Side via the 59th St. Bridge makes it a ideal location for a self-storage facility," Modell said.
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)
Quick Hits
Columns and Thought Leadership
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,
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.
.gif)