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
Meridian Capital Group arranges lease for Acupuncture Local at 4407 Broadway in Washington Heights
Manhattan, NY Meridian Capital Group has arranged a retail lease for Acupuncture Local at 4407 Broadway Meridian’s Noam Aziz and Carson Shahrabani
 (2).gif)
Columns and Thought Leadership
The art of investing in real estate - by Thomas Donovan
Real estate investing is as much an art as it is a skill. No one can time the market, or the factors that drive it, perfectly. Location, zoning, size, transportation, and neighborhood density give you a baseline for
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
Hunt CRE question and answer: Choosing a real estate agent - by David Hunt
First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary
.gif)