News:
Brokerage
Posted: May 7, 2012
Zimmermann of Barcel Group brokers $1.805 million sale of Harlem property; Reps buyer and seller of the five-story, mixed-use building
Barcel Group has completed the sale of 537 Lenox Ave. The building is on the corner of Lenox Ave. and West 137th St., across from Harlem Hospital. The five-story mixed-use building has eight large apartments and a store. The property traded for $1.805 million, which was above 10 times the gross rent.
Bart Zimmermann, vice president and founder of the Barcel Group, represented the buyer and seller. The contract signing and closing were held on the same day.
Tags:
Brokerage
MORE FROM Brokerage
The Malin signs long-term lease for entire floor at GFP Real Estate’s 10 Astor Place
Manhattan, NY GFP Real Estate said thatThe Malin, a hospitality-driven workspace operator, has signed a long-term lease for the entire fifth floor at 10
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 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
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.
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,
