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Experience and Presence in Submarkets Help Close $112M Brooklyn/Queens Portfolio

In New York City, it’s always challenging to close the sale of a multifamily portfolio. It’s especially challenging in 2019 when the properties are spread across 2 boroughs.

The New York Multifamily team of M&M closed such a portfolio of assets in Brooklyn and Queens — a $112,000,000 portfolio of 6 properties representing 423 units and 426,749 square feet. The portfolio ultimately sold to a single buyer. Here’s a look at how this deal came together, and the challenges faced on the path to closing.

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How Multifamily Owners Can Take Advantage of Opportunity Zones

When the 2017 Tax Cuts and Jobs Act passed, accountants, investors, entrepreneurs and others scrambled to understand the implications- for multifamily owners there is one clear benefit, the creation of Qualified Opportunity Zones.

This month, I have asked Michael Hurwitz and Abe Schlisselfeld of The Real Estate Group at Marks Paneth LLP to provide some insight about these Qualified Opportunity Zones (“QOZ”).

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