News:
Brokerage
Posted: June 13, 2023
Royal Properties brokers sale of 30,000 s/f 13 Riverdale Ave.
Port Chester, NY Royal Properties, Inc. negotiated the sale of 13 Riverdale Ave., a 30,000 s/f two-story freestanding building, which includes covered parking, on a half-acre lot located on Rte. 1, on the New York/Connecticut border. This corner property provides two entrances, frontage on Rte. 1 as well as Hillside Ave. with over 120 ft. and 56 covered parking spaces and additional outdoor parking.
The new owner, who will make use of the property as a gym/fitness site, will benefit from neighboring retailers and medical facilities including Whole Foods Market, Stop & Shop, Target, ULTA, Michael’s, CVS, McDonald’s, Citibank, Citarella Gourmet Market, Saks Fifth Avenue, Home Depot, HomeGoods, Party City, WestMed Urgent Care, Yale New Haven Health Greenwich Hospital, Stamford Health, AMI Surgery, St. Joseph Medical Center, and many more.
“We are thrilled to have found the ideal owner/user for this property, who appreciates its attributes, location and will best utilize this beautifully built-out health club,” said Karnit Mosberg of Royal Props., sole broker in the transaction.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 250 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
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.
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
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
.gif)