Venture Capital Properties
News:
Brokerage
Posted: June 5, 2018
Venture Capital Properties closes $13.975 million sale for Malachite Group
Venture Capital Properties
Venture Capital Properties
Queens, NY Malachite Group, a Long Island based real estate company, has closed on the acquisition of 37-06 72nd St. in Jackson Heights for $13.975 million. The property spans 46,300 s/f and is comprised of 50 apartments and two stores. The property was sold at a capitalization rate of 3.5% ($300 per s/f).
Vickram Jambu and Chris Varjan of Venture Capital Properties represented the seller, Skaros Realty, and Bijan Oheb also of Venture, represented the buyer.
Malachite Group holds an extensive portfolio of assets across the country with a focus on retail. The recent acquisition of this asset represents a mix of retail and residential potential given it’s location in growing Jackson Heights. Three blocks away, the Roosevelt Ave subway stop gives access to the city via 7,E, F, M, and R trains.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
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
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
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,
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,
