New York City

Rosewood Realty Group brokers four sales totaling $107.69 million; Includes a $77 million sale of a 400-unit Bronx apartment building by Jungreis

New York, NY Rosewood Realy Group has arranged four sales totaling $107.69 million in the NY metro area. In the first deal, Camber Property Group and Belveron Partners purchased a 400-unit apartment building in the Highbridge section of the Bronx for $77 million, with plans to bring all the units back to affordable housing.

Stewart, Biedron and Bell of Marcus & Millichap complete $9.5 million sale of five-story office building

Manhattan, NY Marcus & Millichap has completed the sale of a five-story office building located at 32 East 39th St., according to John Krueger, vice president and regional manager of the firm’s Manhattan office. John Stewart, Nicholas Biedron, and Stephen Bell...

Someck and Myers of Lee NYC sublease 20,800 s/f

Manhattan, NY Lee & Associates NYC (Lee NYC) has brokered two leases totaling 20,800 s/f. In the first lease, Dennis Someck, executive managing director/principal, and Justin Myers, senior managing director/principal, of Lee & Associates NYC represented the tenant, Ceros, in a seven-year...

The Housing Stability and Tenant Act of 2019 - by Andrew Dansker

The Housing Stability and Tenant Protection Act of 2019 which was passed by the NYS legislature on June 11th caused a seismic shift in the NY housing market. While the intention of the sponsors, ostensibly the alleviation of the ills of NY’s chronically under-supplied housing market, and the efficacy of their chosen...

BRG completes three Brooklyn sales totaling $5.61 million; Includes $2.75 million by Bestreich, Sproviero, Lobel and Waring

Brooklyn, NY Bestreich Realty Group (BRG) has arranged three sales totaling $5.61 million. The deals include the following: The $1.76 million sale of 29 Devoe the Williamsburg section. The 5,000 buildable s/f development lot site measures 25 x 100 ft. and is zoned R6B with

Sabet and Sarraf of Venture Capital broker $11.95 million

Manhattan, NY Ryan Sabet and Yoel Sarraf of Venture Capital Properties represented the buyer, in the $11.95 million sale of 223 East 89th St. 

Banks retires from REBNY; Whelan is new president

New York, NY According to the Real Estate Board of New York (REBNY), its president, John Banks, will retire after five years of service to REBNY and 33 years in the private and public sectors. The REBNY board of governors confirmed Jim Whelan as new president...

Sunset Park: Demand to increase for assets as new rent regulation laws pivot investors’ focus - by Stephen Vorvolakos and Kristen Ostach

Real estate investors have become increasingly optimistic about Sunset Park’s industrial and warehouse assets, motivated by the neighborhood’s proximity to major thoroughfares and relative affordability. With New York’s new rent regulation laws expected to dampen demand for multifamily...

Tourism industry growth in NYC: Will continue to transform and cater to increased global demand - by Michael Zysman

According to the Brookings Institute, over the next 10 years the middle-class population around the world is going to increase from 3.8 billion to 5.6 billion. That is roughly 160 million additional people a year entering the middle class around the world. Many of these newly minted members

Burk of Meridian Investment Sales brokers $5.1 million
sale of five-story, 20-unit Brooklyn multifamily

Brooklyn, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, sold a multifamily property ifor $5.1 million. Director, Scott Burk, arranged the transaction and represented the buyer.