7/7/2020
Friends,
With NYC being the epicenter of the pandemic our multifamily team has been directly dealing with the rapidly changing NYC multifamily market. As the market adjusted, NYM had an active quarter with a total of $316,517,000 in activity!
Some quick closing updates:
In Q2 2020 we closed on 115 Congress Street in Brooklyn for $4,250,000. The property contains 4 units at 5,000 SQFT.
We also closed on 229 Kent Avenue in Williamsburg for $3,000,000. The property contains 2 residential units and 1 commercial unit.
Some quick listing updates:
We recently listed a three property portfolio in Jackson Heights, Queens totaling $111,500,000 – The portfolio includes 2 mixed-use buildings and 1 office building all within 10 blocks and in the Jackson Heights Historic District. Click here to watch the Virtual Tour.
On the Upper East Side we listed the 87th Street Coop Portfolio for $14,450,000. This portfolio consists of 4 properties totaling 59 units.
For other on-market opportunities you might be interested in, head over to the NYM properties
We released the latest Behind The Bricks episode: Instant Insight: The NYC Rental Market with Jordan Sachs .The focus of this episode is one of the biggest questions Multifamily players are asking in the wake of the crisis: What is the current state of the NYC rental market, what will it look like moving forward, and how should owners be adapting?
At this time, we would like to be as useful to our industry as possible, and I hope you find this information valuable and look forward to your feedback. For information about other opportunities in the market or the potential value of your asset, call me at 212.430.5114.
Peter Von Der Ahe
212.430.5114.
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