Falco & Isak completes $4.5 million sale of Talia House

Rubin Isak and John Falco of Falco Isak Realty Services have sold the "Talia House," located at 70-64 Yellowstone Blvd., Forest Hills, for $4.5 million. The property is a 4.5-story,17-unit elevator apartment building built in 2000, containing four-stories, a penthouse and a cellar. The seller was Talia Enterprises LLC and the purchaser was First NES Realty LLC, a private investor in the area. Falco Isak was the sole broker. "The property was owned and managed by the original developers of the property and also had a 421-a exemption that was expiring in 2015. This sale highlights the demand for multifamily property in prime areas, such as Forest Hills," said Rubin Isak, CEO and co-founder of Falco Isak Realty. The sales price of $4.5 million represents a capitalization rate of 6.49%; 11.25X gross rent, a healthy $264,705/residential unit and $265/s/f.

Tags: Brokerage

Reprint

Previous Story Next Story

Meridian Capital Group arranges 10-year retail lease for Mess at 236 West 10th St.

Manhattan, NY According to Meridian Capital Group, Jordan Langer, Noam Aziz and Carson Shahrabani of the firm’s retail leasing team have arranged a five-year lease at 236 West 10^thSt. in Greenwich Village

Houlihan Lawrence Commercial sells residential development site for $2.1 million

Houlihan Lawrence sells development site for $2.1m

GFP Real Estate signs Knit Illustrated to 4,051 s/f five-year lease at 247 West 37th St.

GFP R.E. signs Knit Illustrated to 4,051 s/f at 247 West 37th St.

The Feil Organization signs 15-year, 46,000 s/f renewal with Thompson Coburn LLP at 488 Madison Ave.

Feil signs 46,000 s/f renewal with Thompson Coburn at 488 Madison Ave.

Cushman & Wakefield arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma, LLP

C&W arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

NAI DiLeo-Bram & Co. continues to connect expanding businesses with spaces across N.J.

Columns and Thought Leadership

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

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account

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,

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.