News: Brokerage

HKS Capital Partners closes five deals totaling $56 million in the Bronx, Manhattan, Brooklyn and Queens

HKS Capital Partners LLC, has closed five deals in the northeast Bronx as well as surrounding boroughs of Manhattan, Brooklyn and Queens totaling $56 million. Ayush Kapahi closed five Bronx deals that included: A $14.49 million construction loan of a to-be-built 119 multifamily building with a two-year loan financed at a 5% rate; a $9.3 million ground-up construction loan of an 81 unit multifamily building with a two-year loan financed at a 5% rate; an $8.973 million permanent financing of a 60-unit, multifamily building with a ten-year loan financed at a 4.28% rate; a $3.865 million construction loan of a multifamily building with a two-year loan financed at a 5% rate; and a $2.76 million permanent financing of a 20-unit multifamily building with a ten-year loan financed at a 4.38 % rate. Kapahi also closed a $12 million permanent financing of a multi-family building in Kew Gardens, Queens. The first three years of the ten-year loan was interest only at 3.55% and then a 30-year amortization schedule. In other deals, John Harrington of HKS closed a $3.5 million refinance of a five-story, 13-unit, multifamily apartment building in Bushwick, Brooklyn. The five-year loan was financed at a 3% rate and a $1.5 million refinance of an eight-unit walk-up brownstone on the Upper West Side of Manhattan. The five-year loan was financed at a 3.125% rate. Michael Lee completed this transaction.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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

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.
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

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,
Strategic pause - by Shallini Mehra and Chirag Doshi

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