News:
Brokerage
Posted: June 19, 2018
Tuccillo of Marcus & Millichap brokers sale of 10,000 s/f Glen Cove multifamily
Glen Cove, NY Marcus & Millichap has completed the sale of 40 Herb Hill Rd., a 10,000 s/f apartment building in Nassau County.
Marcus & Millichap
Michael Tuccillo of Marcus & Millichap’s Manhattan office, represented the buyer and seller in this transaction.
The fully-occupied building contains nine two-bedroom apartments and is close to downtown.
“This property’s location was paramount—proximity to RXR’s billion dollar mixed-use development at Garvey’s Point was a major factor for both buyer and seller throughout the process.” said Tuccillo.“In facilitating the smooth transaction between local parties, we overcame significant challenges that come with the territory. Opportunities are scarce within Long Island’s high barrier to entry multifamily market.”
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
Columns and Thought Leadership
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.
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,
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
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
.gif)