Category: Brokerage

New City, NY The KABR Group along with its joint venture partner BTF completed the $30 million purchase of the 125,110 s/f New City Shopping Center located at 78 North Main St. The retail site is 96% leased. The asset is in Rockland County’s CBD and less than one hour from New York City.

Fayetteville, NY Larry Van Der Bogart, and Marty Dowd of CBRE Syracuse exclusively represented the owner in the sale of 5427 North Burdick St.

Syracuse, NY AmTrust RE completed nine lease transactions, comprising more than 80,000 s/f at 100-120 Madison St., a two-building, 635,000 s/f office property.

REIT AvalonBay Communities sold the 110-unit Class A Avalon Bronxville, in Westchester County, for $89 million or $809,000 per unit in 2021. A suburban garden apartment complex built in 1998, rents are $3,568-$8,834 per month for the one to three-bedroom apartments; a 2-bedroom 2-bath is advertised for $4.70 per s/f per month.

Albany, NY JLLCapital Markets has arranged $8.984 million in acquisition financing for 136 Fuller Rd., a 266,412 s/f industrial warehouse. JLL worked on behalf of the borrower, Vermont-based Redstone, in securing the 10-year, fixed-rate loan through Capital Bank.

If it looks like a duck and quacks like a duck, it might be a duck; quack, quack!!! As interest rates have escalated in all sectors over the past three quarters so have overall capitalization rates. The 10-year treasuries have escalated 146% from 1.63% to 4.01%.

Middletown, NY Poly Craft Industries, an advanced manufacturer, and printer of laminated and non-laminated plastic products has received final approval from the city’s planning board.

I am pleased to thank Mary Peyton and Russell Gullo, CCIM for teaching recently. Mary taught the topics of implicit bias and cultural competency on Monday, September 19, 2022 with the course: Is a Rhombus a Square? Envisioning Bias and Culture in Real Estate. Students earned four hours of continuing education credit and met the new course requirement for license renewal.

Manhattan, NY Bruce Mosler, Global Brokerage chairman of Cushman & Wakefield and Joseph Simone (center), president and CEO of Simone Development Companies, one of the region’s leading healthcare and commercial real estate

Brooklyn, NY Alpha Realty has completed the sale of 792 Sterling Pl. in Crown Heights at $24 million in an off market transaction. Managing principal Lev Mavashev, represented both parties in the transaction

Manhattan, NY Heritage Affordable Communities has recently closed on the acquisition of a 33-unit affordable housing property located at 246 West 116th St. The property consists of 32 residential units and one

Brentwood, NY Ron Epstein of RC Commercial Partners leases two stores new Palm Plaza shopping center. Palm Plaza Grocery Corp, operating as Compare Foods, has opened an 8,000 s/f supermarket in Brentwood. This is the fourth and largest store to date for the operator