Brooklyn, NY TerraCRG has closed on the $2.85 million sale of 684 Central Ave. in Bushwick. TerraCRG partner Matt Cosentino and senior associate Rémi Norris exclusively represented the seller. The 5,280 s/f renovated property is comprised of five residential apartments,
New York, NY Over forty years ago a young Tom Gallin sat in a work van with a carpenter named Stam. It was a sweltering summer day, and Tom was tagging alongside him to see some jobsites.
With over two million renters, NYC has the most stringent housing regulations in the country. The Housing Stability and Tenant Protection Act (HSTPA) of 2019 added more red tape for property owners when it dramatically reduced an owner’s ability to increase rent based on an Individual
Webster, NY Ned Perlman of Largo Capital arranged $1.8 million to refinance a medical office building.
Brooklyn, NY Ariel Property Advisors has arranged the sale of a development site with a 142,500 s/f zoning floor area at 450 Union St. in the rezoned Gowanus neighborhood. The property traded for $40.65 million or $285 per s/f, a record for a site in Gowanus with a Mandatory Inclusionary Housing requirement. The site is occupied by Pig Beach and The Green Building.
New York, NY Regal Ventures has acquired a 37,165 s/f, grocery-anchored retail and parking condo at 897 Eighth Ave. in the Hell’s Kitchen neighborhood on Manhattan’s West Side. The property’s retail component is 15,893 s/f in size, while the parking portion measures 21,272 s/f.
New York, NY Michael Ferrara and Alan Stenson of Brax Realty brokered the $6.7 million sale of a 126-unit SRO building in the Upper West Side. The property, 342 West 71
st St., is a 7-story elevator building with 34,312 s/f and 52 ft. of frontage on 71
st St.
New York, NY Rosewood Realty Group delivered the sale of a five-story, mixed use-apartment building in Borough Park with four apartments and one retail space for $6.8 million.
The world seems to be getting back on track after a fashion. The most that anyone can say is we are entering a “new normal.”
New York, NY Arch Companies has closed a portfolio of three luxury apartment development projects in the Bushwick, Brooklyn market. The portfolio totals 61 units and is located at 435 Central Ave., 1010 Bushwick Ave. and 1351 Dekalb Ave. The restructuring with the existing ownership group lead by Denis Saklakov is a positive step towards restarting construction on the previously stalled properties.
