News:
Brokerage
Posted: June 16, 2020
Watkins and Algarin of Oak & Avery Group broker $1.85 million sale of 10-unit mixed-use building
Eastchester, NY The Oak & Avery Group brokered the sale of a 10-unit mixed-use building, 820 White Plains Rd. The sale price was $1.85 million, representing a 5.5% cap rate.
Anthony Watkins, pesident, and David Algarin, vice president, represented both the sellers and the buyer, in the transaction.
“The sale was put into contract and closed post COVID-19 shutdown. The sale represents a continued interest in multifamily and mixed-use assets in strong locations throughout Westchester County. The building was 30% rent-stabilized and the buyer has a long-term hold strategy,” according to Algarin.
Tags:
Brokerage
MORE FROM Brokerage
Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million
Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
.jpg)
Columns and Thought Leadership
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
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,
.gif)