News:
Brokerage
Posted: February 11, 2008
Newell and Mann of Reilly Mann Newell Realty complete $9.1m sale
An elevator apartment building on the corner of West 162nd St. and Bdwy. in Washington Heights has been sold to SDG Management Corp.
The brokers were Wells Newell and Jim Mann of Reilly Mann Newell Realty Group. The property, 3868 Bdwy. (aka 564-568 West 82nd St.) contains seven stores and 37 apartments.
According to the purchaser, both the retail and the residential components provide substantial upside potential due to the rapidly improving aspects of Washington Heights and rents that are currently below market.
The sellers, 3868 Bdwy. Realty LLC, had owned the property since 1985. The deal traded at $9.1 million, or $152 per s/f.
Tags:
Brokerage
MORE FROM Brokerage
Atria Health Institute to open at One High Line with brokerage by Access Real Estate
Manhattan, NY Access Real Estate, a U.S.-based investment group with a diverse portfolio of world-class properties, and Witkoff, a privately held real estate investment and development firm, has leased Atria Health Institute
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,
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 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.
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
.gif)