News:
Brokerage
Posted: December 22, 2015
Nowak, Ronsenweig, Barbartsis-Savidis and Barbartis of Marcus & Millichap complete $1.875 million sale of retail property
Jakub Nowak, Marcus & Millichap
Matthew Rosenzweig, Marcus & Millichap
Maria Barbatsis-Savidis, Marcus & Millichap
John Horowitz, Marcus & Millichap
1602 Gravesend Neck Road - Brooklyn, NYBrooklyn, NY Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has completed the sale of 1602 Gravesend Neck Rd., a 5,027 s/f retail property, according to John Horowitz, vice president - regional manager of the firm’s Brooklyn office. The asset sold for $1.875 million.
Jakub Nowak, Matt Rosenzweig, Maria Barbatsis-Savidis and Bobby Barbatsis from Marcus & Millichap’s Brooklyn office, exclusively represented the seller, a REIT and the buyer, a private investor.
“There is a huge demand for straight retail deals in the southern Brooklyn market, and there is not much out there available for sale. Even though this property is not on the busiest corridor, we were able to procure multiple offers in a short amount of time, and eventually find the perfect buyer who was in a 1031 exchange willing to pay ask price for the building. The sale of this property was a price record for a tertiary retail corridor in the Sheepshead Bay neighborhood,” said Barbatsis-Savidis.
Tags:
Brokerage
MORE FROM Brokerage
Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million
Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
.jpg)
.gif)
Columns and Thought Leadership
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.
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,
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
.gif)