News: Brokerage

Rosengarten of Leslie J. Garfield & Co. completes sale of 546 East 87th Street for $6.45 million

Leslie J. Garfield & Co., Inc. arranged the sale of 546 East 87th Street, a renovated four-story single-family townhouse located on the South side of 87th Street between East End and York Avenues. This 3,500 s/f building is on a lot-18'x62' and contains four bedrooms, a home office and family room, and a fully built out first floor with a skylight above. The property was held at $6.45 million. This property was sold by Garfield in 2004 and was totally gut renovated by the owners at the time with brand new systems and interiors. Due to his relocation to the West Coast he was forced to put the house on the market. Within the first two weeks of listing the property, a couple was brought in who had been looking for a house in the neighborhood. A deal was negotiated fairly quickly. Buyers are a family who live nearby and have 2 children. Lydia Rosengarten of Leslie J. Garfield & Co., Inc. exclusively represented the sellers and the buyers were represented by Pam Marcus of the Corcoran Group. At the time of closing, a third party relocation company, Weichert Workforce Mobility were the official sellers and they were represented by Stacy Bechakas, Esq. of Hogan & Willig Real Estate Center. Buyers attorney was represented by Stephen Roland, Esq.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

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

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
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

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,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

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,