Beverly Hills, CA According to The Secret Brokers Society, Joseph Aquino, president of JAACRES, has partnered with Anthony Palermo from Coldwell Banker to sell a retail property at 839 N. La Cienega within the Los Angeles Design District. The property sold for $5.5 million.
Aquino and Palermo have been known to do multiple deals along Rodeo Dr., Sunset Plaza and Brighton Way. Some of their customers are MonnaLisa, LOL Kids, Sergio Rossi, Prada, Rimowa and Buccellati. Palermo has been a member since the inception of The Secret Brokers Society in 2011.
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,