Category: Brokerage

Manhattan, NY According to L&L Holding Co., anchor tenant Citadel Enterprises LLC, one of the world’s largest asset management firms, is expanding its tenancy at 425 Park Ave., a 47-story office tower under construction in the Plaza District. 

Queens, NY A private real estate investor has acquired an 18,000 s/f full block retail strip for $9.65 million in an all-cash off-market deal.  Nir Mor and Daniel Rahmani, of Capital Property Partners acted for the purchaser, while Michelle Abramov of AssetCRG represented the seller, RJ Capital Holdings.

Among the numerous legal developments of 2018 the standouts include the introduction of a new tax strategy for real estate investment and development, and a $6.75 million verdict against a property owner for destroying street art, noted below with a few others of interest: 

Manhattan, NY Friedman-Roth Realty Services has arranged the first sale in almost 20 years, the disposition of 112 West 138th St. (aka The Invincible Court).  Located in Central Harlem between Lenox Ave. and Adam Clayton Powell Blvd., this six story elevator building consists of 54 large apartments. The 39,000 s/f building sold for $19.25 million, a 3% cap rate and 19 times rent-roll.

New York, NY Oxford Property Group and Rhino have launched a new deposit-free search tool that allows prospective renters and their brokers to search for exclusive deposit-free listings through Oxford Property’s own online search tools.