News: Brokerage

Mordekhai of Forest Park Properties facilitates two sales totaling $4.075 million; Includes $2.475 million package of 10 two-family homes purchased by Gotham Beach 84 LLC

15-333 Beach 84th Street -
 Rockaway Beach, NY

 

1240 Hancock Street
(aka 509 Wilson Avenue) - Brooklyn, NY

 

Rockaway Beach, NY Raymond Mordekhai of Forest Park Properties Inc. has completed the following sales:

• 15-333 Beach 84th St.: Mordekhai brokered the sale of this package of 10 two family homes for $2.475 million. The buyer is Gotham Beach 84 LLC. The seller was an investment group that had foreclosed on the property. The sale was facilitated by the Ten-X Auction platform.

•1240 Hancock St. (aka - 509 Wilson Ave.) in Brooklyn: Mordekhai represented both parties in this transaction. The sale price was $1.6 million. The property consists of five residential units and two stores. The buyer is 1240 Hancock LLC and seller was Vienna International LLC.

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 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
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