News:
Brokerage
Posted: August 4, 2020
Verderber and Frankel of Silber Investment Properties handle Walgreens sale – $9 million
Binghamton, NY Silber Investment Properties completed the sale of a 13,804 s/f Walgreens for $9 million at a 6.5% cap rate. The subject property, located at 37 Pennsylvania Ave. on 1.2 acres, was acquired by Mineola-based A. Verrelli and Associates. Bret Verderber of Silber represented the seller, Colonial Plaza Associates, and Stuart Frankel of Silber represented the buyer.
Additionally, the firm completed a second transaction with this buyer as a 1031 exchange. Circle K at 3025 Kathleen Rd. in Lakeland FL has been acquired for $1.675 million at a 5% cap rate. Sam Judd of Silber represented the buyer, SHYMS LLC, and the seller, Pixland LLC. The deal closed in under 30 days.
“We are seeing an increased trend in demand for properties with tenants that supply essential services,” said Adam Silber, principal of Silber. “Our focus over the last 60 to 90 days has been on properties with tenants such as pharmacies and food service.”
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE secures 5,754 s/f lease with GKV Architects at 360 Lexington Avenue
Manhattan, NY AmTrustRE has executed a 5,754 s/f lease at its premier boutique Midtown East office tower, 360 Lexington Ave., with longtime partner GKV Architects. The award-winning firm will occupy a portion of the 14th floor. >“GKV Architects has been a trusted partner to AmTrustRE for over two decades, playing an integral role in shaping and elevating several
Quick Hits
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
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,
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
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
