News: Brokerage

Smith and Haque of Friedman-Roth represent buyer in $26 million sale; Dayani of Orsid Realty represents seller of 35 West 64th Street

35 West 64th St. has been sold for $26 million. Situated between Central Park West and Broadway, the nine-story apartment building is comprised of 68 residential units and houses the Picholene restaurant. Prior to its conversion to an apartment building, the property was known as the Hotel Monticello. Originally estimated to sell for $22 million, the property was sold for $26 million and closed within 30 days of an executed Contract of Sale. This was the first sale of the property since 1968 and it was sold to a partnership comprised of Astoria Realty Partners LLC and Mornos Realty LLC, a private investor client of Friedman-Roth Realty Services LLC. Jude Dayani, of Orsid Realty, represented the seller while Joseph Smith and Nadeem Haque, both of Friedman-Roth, represented the purchaser. In 1930, one of the hotel's most infamous residents, Jack "Legs" Diamond, while resting in his hotel suite, was shot 5 times by a rival mob yet miraculously survived the murder attempt.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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
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,

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
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.