News:
Brokerage
Posted: November 22, 2022
Rockledge purchase 6 elevator buildings for $33.6 million in the Bronx
Bronx, NY In partnership with Peter Hungerford of PH Realty Capital and Shlomo Tajerstein, David Kaye and Joe Listhaus of Rockledge purchased 6 elevator buildings in the Concourse Village. The package included 111 Tudor Pl., 112-114 Tudor Pl., 117-119 Tudor Pl., 1170 Walton Ave., 1176 Walton Ave., 309 East 164th.
The deal spanned 297 units and 314,590 gross s/f. The purchase price was $33.6 million which equated to $113,131 per unit and $107 per s/f. The portfolio was purchased north of an 8% cap rate. Vic Sozio, Daniel Mahfar, Jason Gold and Shimon Shkury from Ariel Property Advisors represented both the buyer and the seller in this transaction.
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
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
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,
