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Posted: December 28, 2012
Rubin Isak, Falco Isak Realty Services
Contact Name : Rubin Isak
Company Name : Falco Isak Realty Services
Email : [email protected]
Phone : 718-606-2390
Fax : 718-606-2784
Address, City, State : New York, 11378
What was your most notable project, deal or transaction in 2012? : My most notable, and most satisfying, transaction in 2012 was the sale of 138 unsold sponsor units in 4-contiguous walk-up apartment buildings in Astoria, Queens for over $17.8M. It was a complex and creative transaction that saw everyone working together; the sellers, purchasers and attorneys, to get it to the closing table.
What are your predictions for commercial real estate in 2013? : My prediction for commercial real estate in 2013 is that sales volume will slightly decrease from 2012 due to the increase in the Capital Gains tax. However, given the historically low interest rates by the fed, which will keep rates low for the next several quarters, there will continue to be a strong demand for investment property. I see 2013 as a pure seller's market, especially for multifamily. As long as the asset is priced appropriately and the marketing is implemented properly,owners who choose to sell will see aggressive demand.
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