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Investment Sales: You can have the luck, I’ll take the work - by Tim Serignese

Is it good luck or good timing? Does good timing happen in the gaps between bad timing and ok timing? What is luck?  Is it when you reach a desired goal or outcome with a fraction of the effort that you thought it would take? For instance, your intern starts to prospect on the phone and contacts a “ready, willing and able” seller on her third call. After you braced her for hours of dialing. Is that luck? 

Polsinelli and Goldstick of Compass arrange Greenwich Village sale

Manhattan, NY Adelaide Polsinelli, vice chair of the newly launched investment sales division at Compass, along with and Mitchell Goldstick, have arranged the sale of the entire retail component and parking garage located at 44-58 East Eighth St., the main retail strip in the Greenwich Village neighborhood. 

Wright and McManus join Capell Barnett Matalon & Schoenfeld LLP

New York, NY According to Capell Barnett Matalon & Schoenfeld LLP, Christopher Wright has joined the firm as counsel and William McManus has joined as an associate. 

Outside the Region: Eyzenberg & Co. arranges $30.5 million refinance

Baton Rouge, LA Eyzenberg & Co. has secured a $30.5 million Fannie Mae conventional multifamily loan to refinance a 224-unit apartment c...

Stenson of Brax Realty completes $4.75 million off-market sale

Manhattan, NY Alan Stenson, senior director of Brax Realty brokered the off-market sale of a 340 West 48th St. The sale price was $4.75 million. The property is between 8th and 9th Aves. and contains 15 apartments.  Stenson represented the seller, 340 West 48th Street LLC and this was the first time in over 44 years the building traded hands. The property was built in 1920 and is comprised of 15 apartments with 25’ frontage. 14 of the 15 apartments are studios and the remaining unit is a one-bedroom. 

Curto to chair litigation practice group at Forchelli Deegan Terrana

Uniondale, NY According to Forchelli Deegan Terrana LLP, partner Andrew Curto is now chair of the litigation practice group.  

Hakimian joins AssetCRG as associate broker in the investment sales division

Queens, NY Daniel Hakimian joined AssetCRG in December of 2018 as an associate broker in the investment sales division. Hakimian specializes in all asset classes with a keen eye for value-add potential either through below market rents, un-used air rights, and conversion opportunities. 

Helmsley Spear partners with Hercules SEZC for blockchain technology

Manhattan, NY Helmsley Spear, LLC is collaborating with Hercules SEZC, a blockchain-based supply chain software company, in the initial phase of documenting rent rolls for Helmsley Spear’s commercial leases and providing confidentiality and indisputable historical building documentation for two of its properties in the borough.

Outside the Region: Groblewski and Feig of Fantini & Gorga place $11.5 million construction loan

Lake Worth, FL Fantini & Gorga arranged an $11.5 million first mortgage loan for the construction of a self-storage facility. Casimir...

Short of Arbor funds $151.3 million for multifamily portfolio in New York City

New York, NY Arbor Realty Trust, Inc. has funded a loan for a multifamily property portfolio. These properties received $151.3 million in total funding through the Freddie Mac SBL product, making this transaction one of the largest portfolios since the inception of the program. Ari Short of Arbor’s local office originated the loan.