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Ross of Besen & Associates closes sale of 95-unit Bronx hotel property: $11.675m Besen-DSCN0783_opt.jpg Bronx, NY Laurence Ross, an investment sales broker at Besen & Associates, recently closed another successful off-market hotel transaction. Ross brokered the sale of the Capri Whitestone Hotel, located at 555 Hutchinson River Pwy. in the Ferry Point section of the borough, for $11.675 million or just under $123,000 per key.
This two-story, 95-unit hotel with restaurant/bar and lounge is situated along the service road and toll booth plaza of the Whitestone Bridge. Built in 1962, with long term ...
Belyi of Greiner-Maltz completes Queens transactions totaling $7.8m GreinerMaltz-image004_opt.jpg Queens, NY Dmitri Belyi, a 15-year veteran broker at Greiner-Maltz, recently completed the final third of a string of sales transactions totaling $7.8 million.
The first transaction dating back to 2005 was the sale of a 10,000 s/f vacant property of M1-3 zoned land at 38-40 11th St., which was sold to Roman Zaks Jewelry Tool Manufacturing Co. for $500,000. This same site at 38-40 11th St., Long Island City, was then re-sold by Belyi in 2007 for $2 million, a price which reflected the possibility of ...
Strength in equity: Examining where today's market is headed bartzimmerman_opt1.jpg The real estate market throughout New York has drastically changed in the last few weeks. The exodus of investment banks, the new Fed rescue package, and the swings of oil pricing all on top of the already looming credit crunch have most major real estate players subscribing to the "hurry up and wait" policy.
After a year in the market, the credit crunch is maturing, and many facets in most industries are feeling the squeeze. This has brought down several banks, effecting lending on commercial ...
New York City's housing plan wins Harvard Innovation Award According to mayor Michael Bloomberg, the New Housing Marketplace Plan, the city's $7.5 billion plan to build and preserve affordable housing for 500,000 New Yorkers, has funded more than 82,500 units-half of its 165,000 goal. Initiated in July 2003 as a 65,000 unit plan, the New Housing Marketplace Plan was more than doubled in February 2006 and is now one of the largest municipal affordable housing plans in the nation. To sustain the plan's 165,000-unit goal despite the increasing pressure on ...
Burton of Massey Knakal sells three-story SoHo bldg. for $11.775m MK-180 Bowery_opt1.jpg Manhattan, NY Massey Knakal Realty Services has sold a three-story commercial property at 180-182 Bowery in the SoHo neighborhood in an all-cash transaction valued at $11.775 million.
The 50-foot-wide property is located on Bowery between Spring and Kenmare Sts. The property contains 10,750 s/f, but has 30,000 buildable s/f. It falls in the Little Italy special use district with potential for commercial, residential and community facility use. The property sold for $392.50 per buildable s/f to a local ...

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