News: Brokerage

Shragaei and Landau of GFI Realty Services, Inc. arrange $5.2 million sale of two apartment buildings in East New York Section of Brooklyn

GFI Realty Services, Inc., one of the leading, New York-based commercial real estate services firms, arranged the package sale of 869 and 913 Thomas S. Boyland St., two four-story, walk-up apartment buildings located in the East New York section of the borough. The multifamily properties, which feature a total of 51 rental units and a cell phone tower, traded for a total of $5.2 million. GFI Realty represented both the buyer and the seller in the transaction. associate director Daniel Shragaei originated the deal, while associate director Joseph Landau procured the buyer, Coney Realty. "The deal traded for about eight times the rent, which you don't find too often in this market," Shragaei said. Landau said, "The buyers saw the great long-term potential in the properties. Not only were the buildings well maintained, but they are located within a six-minute walk to two parks and two playgrounds." The two buildings were constructed in 1930 and are close to the Rockaway Ave. and New Lots Ave. subway stations, which service the 2, 3, 4, 5 and L lines, and major thoroughfare Linden Boulevard.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.