News:
Brokerage
Posted: August 23, 2022
Stav Equities & Safdie Realty Group complete $3.35 million sale of 57 Grove St.
New York, NY Stav Equities alongside Safdie Realty Group has successfully brokered the sale of 57 Grove St., a 12 unit multifamily building. The brokers were able to assist ownership in buyouts, ultimately delivering 11 out of 12 apartments vacant at closing on behalf of the buyer.
The purchaser intends to do a substantial gut rehab, which entails performing a renovation of the current structure which will permanently destabilize the building upon completion.
57 Grove St. is just a few minute walk from the J subway line, giving the tenants an easy commute into Manhattan and accessible to all the major restaurants and shops Bushwick has to offer.
Jacob Stavsky of Stav Equities represented the buyer while Joseph Safdie & Roni Yaghoobzar of Safdie Realty Group represented the seller in this off market transaction.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
.gif)