News:
Brokerage
Posted: April 14, 2017
Weiss and Stryker of Highcap Group broker multifamily sale: $5.825 million
Manhattan, NY Jeff Weiss, a senior director and Larry Stryker an associate broker, both with commercial brokerage firm Highcap Group, handled the $5.825 million sale of 118 First Ave., located on the northeast corner of Seventh St. in a section of the East Village. The sales price equates to $1,150 per s/f, and is the first sale in over 30 years. This mixed-use building features two retail spaces and four residential floor-through units, with two of the floors currently vacant. The month to month retail leases are currently under market and provide new ownership with tremendous upside.
Weiss and Stryker represented the buyer, an active area private investor. The seller was represented by George Damiris from Astoria Realty, along with Weiss.
“There was substantial interest from many parties, but ultimately the winning bid came from a local investor who owns many East Village buildings and saw the value of this prime corner property.”
Attorneys Bill Vasiliadis and Kyu Kim represented the seller and buyer respectively.
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
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
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.
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,
