News:
Brokerage
Posted: January 11, 2022
Sternhell and Vanderpool of Cignature handle $53.5 million multifamily portfolio sale
Manhattan, NY Cignature Realty closed the sale of a three-building multifamily portfolio for $53.5 million. The portfolio comprises one six-story mixed-use elevator building and two five-story multifamily buildings, with a total of 39 residential units, 30 professional units, and 11 retail units.
Cignature Realty’s Lazer Sternhell and Peter Vanderpool represented both the buyer and the seller in this transaction.
4001 Broadway, 1121 First Ave., and 318 West 75th St. are located across three neighborhoods—Washington Heights, Upper East Side, and Upper West Side. The buildings have a combined 87,508 s/f with an additional 45,992 s/f of air rights and sold for $611 per s/f.
Tags:
Brokerage
MORE FROM Brokerage
Delisle and Monahan of Island Associates lease 45,000 s/f to Giunta’s Meat Farms at Strathmore Commons
Middle Island, NY Roger Delisle and Robert Monahan of Island Associates negotiated the lease for the Giunta’s Meat Farms to occupy 45,000 s/f at Strathmore Commons.
.jpg)
.gif)
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
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.
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
.gif)