News:
Brokerage
Posted: August 15, 2023
Stenson of Brax Realty sells 12-unit apartment building for $4.4 million
Manhattan, NY Alan Stenson of Brax Realty has completed the sale of 228 East 25th St. in Kips Bay for $4.4 million.
The 8,160 s/f apartment building was located between 2nd Ave. and 3rd Ave. and had a total of 12 units.
Stenson represented both the seller, a long-term owner and also procured the purchaser, a group of private investors. This was the first time the property traded hands in over 45 years.
The purchase price equated to a price per s/f of $539 and a price per unit of $366,000. The building was sold with nine of the 12 units vacant and was 75% free market.
Tags:
Brokerage
MORE FROM Brokerage
Industrial Realty Group acquires 422,727 s/f distribution facility in south St. Paul
St. Paul, MN Industrial Realty Group, LLC (IRG) acquired a 422,727 s/f industrial distribution facility located at 411 Farwell Ave. in south St. Paul. The property was formerly the headquarters of The Sportsman’s Guide, an online and
Quick Hits
 (2).gif)
Columns and Thought Leadership
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
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
.gif)
August Promotion
