News:
Brokerage
Posted: January 11, 2022
TerraCRG sells $1.8 million development site in East Williamsburg
Brooklyn, NY TerraCRG has closed on the $1.765 million sale of a 2,500 s/f development site located at 366 Leonard St. in East Williamsburg. Dan Marks, Daniel Lebor, and Andrew Manasia represented both the seller, Leonard Villa LLC, and buyer, 366 Leonard St LLC, in the transaction.
“We received a number of offers from active developers on this property, which speaks to the continued demand for residential opportunities in this neighborhood – and the strength of the market overall,” said Daniel Lebor, partner at TerraCRG. “Our expertise helped facilitate a quick and efficient sale for both buyer and seller.”
The property, which currently includes a 1,300 s/f two-family building, was delivered vacant with approved demolition plans for a new building. The site is zoned M1-2/R6, MX-8, which calls for 6,750 buildable s/f as-of-right or 9,000 buildable s/f with the City’s voluntary inclusionary housing bonus.
Tags:
Brokerage
MORE FROM Brokerage
Devli Real Estate acquires 67,000 s/f flex industrial property on Rte. 17 in Upper Saddle River
Upper Saddle River, NJ Devli Real Estate acquired 118 Rte. 17 North, a 67,000 s/f flex industrial/retail asset situated on 6.3 acres with highway frontage. The property is positioned along
Columns and Thought Leadership
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,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
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
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
