News:
Brokerage
Posted: April 8, 2013
Scandalios, Cruz, Julien and O'Hearn of HFF close $70 million sale; Sold by Dermot Company and Henderson Global JV to Orbach Group
HFF closed the sale of The Hamilton, a 178-unit, class A multi-housing property on the Upper West Side for $70 million.
HFF marketed the properties on behalf of the seller, a joint venture between the Dermot Company and Henderson Global Investors. The Orbach Group purchased the property free and clear of existing debt.
"Manhattan's Upper West Side is a vibrant community with high-quality, well-located rental units at a premium," said Meyer Orbach, president of The Orbach Group.
The Hamilton is located at 210-230 West 107th St. between Broadway and Amsterdam Ave. The 95% leased property consists of three adjacent mid-rise buildings with units averaging 779 s/f each.
The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios and Jose Cruz and managing directors Jeff Julien and Kevin O'Hearn.
The Dermot Co. is led by principals, William Dickey and Stephen Benjamin.
Tags:
Brokerage
MORE FROM Brokerage
Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons
Middle Island, NY Roger Delisle and Robert Monahan of Island Associates negotiated the lease for the Giunta’s Meat Farms to occupy 45,000 s/f at Strathmore Commons.
.jpg)
.gif)
Columns and Thought Leadership
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,
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
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.
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
.gif)