News:
Brokerage
Posted: July 14, 2014
Pyramid Investors JV arranges $6.65 million sale of former Pyramid Reception Center
Pyramid Investors JV LLC, a joint venture between Manhattan-based Bluestone Group and Bronx developers Altmark Group arranged the $6.65 million purchase of the property known as the former Pyramid Reception Center (and YMCA) at 470 East 161st St. in the Melrose section of the borough from New York State OGS (NYSOGS). NYSOGS was represented by Ivan Diaz of Diaz & Associates. The buyer was not represented by any party.
The JV is considering various community based options for the development of the 60,000 s/f building and the adjoining land, and have retained John Peters at Cushman & Wakefield to market the asset to potential tenants and users.
The Melrose area is experiencing continued growth with the recent completion of Atlantic Development's 700 unit Boricua College and Village, the leasing of the Brook House furniture building to the non-profit Boom! Health, and the
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
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,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
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,
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
