News:
Brokerage
Posted: November 21, 2017
Sarn and Hurley of CPEX broker $1.65 million sale
Brooklyn, NY CPEX Real Estate’s mixed-use investment sales team has sold a three-story mixed-use building located at 451 Irving Ave. in Bushwick. The property sold for $1.65 million, or $367 per s/f.
CPEX’s mixed-use sales team, consisting of managing director Lawrence Sarn and associate Bryan Hurley, represented the seller and procured the buyer.
“Our knowledge of the active investors in the neighborhood allowed us to expedite the process for this off-market transaction,” said Hurley. “Specializing in the sale of mixed-use properties allowed us to easily identify the perfect buyer for this property.”
Located on the corner of Irving and Jefferson Aves., the 4,500 s/f mixed-use building consists of two ground floor commercial units, three residential apartments on the second and third floors, and three 200 s/f garages.
Tags:
Brokerage
MORE FROM Brokerage
Marcus & Millichap brokers $16.25 million sale of Ponce Bank flagship headquarters in the Bronx
Bronx, NY Marcus & Millichap negotiated the sale of a net-leased bank property occupied by Ponce Bank. The asset sold for $16.25 million. “This property drew tremendous interest as it was a
Columns and Thought Leadership
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
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,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.