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Alpha Realty brokers $5.15 million off-market sale of 33-unit building in the Bronx

Bronx, NY Alpha Realty brokered the off-market sale of 4206 Carpenter Ave. in the Wakefield neighborhood. The property sold for $5.15 million.  The six-story property consists of 33 apartments

Question of the Month: Is C-PACE a feasible financing strategy for building healthy buildings? - by Rob Holdsworth

The Commercial Property Accessed Clean Energy, or C-PACE, is a unique public-private financing program designed to help commercial, industrial, non-profit, multifamily, and agricultural property owners and real estate developers fund large scale energy

Exec. of the Month: Hershberg of Topaz Capital launches new 1031 platform and investment management software

New York, NY The New York Real Estate Journal (NYREJ) sat down with Marc Hershberg, managing partner & CEO of Topaz Capital about their new investment management software (TOPAZ IR) and the recent growth of their TOPAZ TEN31 Xchange Program

Rockport Mortgage closes $74.5m FHA Section 223(f) refinancing loan

Queens, NY Rockport Mortgage Corp. closed a $74.5 million FHA Section 223(f) refinancing loan for Israel Senior Citizen Housing I and II, a 512-unit HUD-subsidized property for the elderly located in the Far Rockaway neighborhood.

Oak & Avery Group sells Yonkers multifamily

Yonkers, NY The Oak & Avery Group completed the sale of an 11-unit multifamily building at 19 Lawrence St. Anthony Watkins, president, and David Algarin, vice president

Perlman of Largo secures $2.4m permanent loan for Rochester portfolio

Rochester, NY Ned Perlman of Largo Capital’s Buffalo office arranged a $2.4 million permanent loan for a portfolio of multifamily properties.  Perlman negotiated 80% acquisition financing

Bloorian and Herskowitz of Greyhill Group negotiate $1.2m acquisition

Troy, NY Greyhill Group has acquired a mixed-use property at 150 4th St. for $1.2 million.  The property has 15 residential units, primarily rented by local Rensselaer Polytechnic Institute students

Cleaning house in co-ops and condominiums with legal counsel - by C. Jaye Berger

The COVID Pandemic has created some extra time for people to handle projects they might not otherwise have time for. A good example of this is reviewing your building’s  co-op and condominium formation documents, such as house rules, proprietary 

Bortz and Sweetwood of Kislak broker $2.1m sale

Poughkeepsie, NY The Kislak Co., Inc. completed the sale of a fully-approved multifamily development site on over seven acres at 31-35 Violet Ave., in Dutchess County. The property traded for $2.1 million.

Bestreich, Reynolds, Reynolds and Davila of BRG facilitate $4.25 million development site sale

Brooklyn, NY Bestreich Realty Group (BRG) closed the sale of 176 Central Ave., located in the Bushwick neighborhood, for $4.25 million.  This development site’s lot dimensions of 73.5 ft. x 150.33 ft.