News:
Brokerage
Posted: February 6, 2009
Zach, Kashi and Kozhinoff of Itzhaki handle $2.1m sale of 37-64 64th St.
Itzhaki Properties recently completed the sale of 37-64 64th St. Located in the Woodside neighborhood between 37th and 39th Aves.
This four-story, walk-up building has 16 units and 9,632 s/f. The building sold for $2.1 million, which represents 11.5 times the gross rent roll, approximately $130,000 per unit. There is tremendous upside due to the low average rents, approximately $950 per apartment. At a 5.6% CAP, this transaction closed in 90 days.
Shay Zach, managing partner and Tal Kashi sale associate represented the seller in this transaction while Aaron Kozhinoff, sales associate represented the seller.
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.
Columns and Thought Leadership
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,
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
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
