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Brokerage
Posted: January 14, 2025
Phillips of Largo Real Estate secures $4.525 million financing
Fairport, NY Jack Phillips, principal at Largo Real Estate Advisors, Inc. secured a permanent first mortgage to finance the acquisition of a nearly 60,000 s/f, three-building mixed use retail/office property. The project is 99% leased and features a diverse rent roll that includes mostly local tenants ranging from 300 s/f and up. Utilizing one of Largo’s long standing lending relationships, Jack was able to secure competitive loan terms that met the buyer’s needs.
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SABRE coordinates sale of six properties totaling 199,845 s/f
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Quick Hits
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
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
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
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.
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