News:
Brokerage
Posted: January 10, 2017
Peña and Borshch of Berko handle two building sale: $15.5 million
Agustin Peña, Berko & Associates
201-209 46th Street - Brooklyn, NY
Lenny Borshch, Berko & Associates
Brooklyn, NY Berko & Associates has closed on the sale of two connected four-story, loft office buildings located at 201-209 46th St. on the corner of 2nd Ave. in the Sunset Park neighborhood.
The property sold for $15.5 million, at $290 per s/f above grade, a record for the area, suggesting a still-healthy appetite within the borough’s investment sales market.
Agustin Peña, a director at Berko, and sales associate Lenny Borshch represented both the buyer and the seller, who plans on repositioning the building into a boutique hotel.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
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
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,
.gif)