Tabibnia and Farchi of Azad Property orchestrate joint venture deal

Mansour Tabibnia and Barry Farchi, partners at Azad Property Group, orchestrated a second joint venture deal for the partnership portfolio of 17 walk-ups in the East Village. Kushner Companies along with an international real estate fund (who would like to remain anonymous), acquired the buildings from Westbrook Partners. "This marks the second largest purchase in the last year by this joint venture partnership which has acquired a total of 29 buildings in the downtown area," said Tabibnia. "We expect them to continue adding these walkups to their growing portfolio," said Farchi. The mixed-use, 17-building package consisted of 264 apartment units and 24 stores, and the buildings span from 2nd to 13th St. along Avenue A.

Tags: Brokerage

Reprint

Previous Story Next Story

GFP Real Estate continues leasing momentum at 322 Eighth Ave. with 9,952 s/f of transactions

Manhattan, NY GFP Real Estate closed three office leasing transactions totaling 9,952 s/f at 322 Eighth Ave. in Chelsea, highlighting continued leasing momentum at the recently repositioned office

Zimmet Law Group signs 5,476 s/f lease at GFP Real Estate’s 515 Madison Ave.

Zimmet Law signs 5,476 s/f lease at GFP’s 515 Madison Ave.

1122 Madison Avenue inks $21.175 million contract

Rudin secures 55,335 s/f lease with JAMS at the top of 3 Times Square

Rudin secures lease with JAMS at the top of 3 Times Square

Skyline Developers’ 18W55 fully leased in under nine months

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

SL Green Realty signs two leases covering 56,674 s/f at 1185 Avenue of the Americas

Columns and Thought Leadership

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

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

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,

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.