Houlihan Lawrence Commercial facilitates sale of 13-unit Marina Court for $11 million

Mamaroneck, NY The Scrima Gorman Real Estate Team at Houlihan Lawrence Commercial brokered the sale of a multifamily building, Marina Court, located at 422 E Boston Post Rd. The seller and buyer were both represented by Michael Scrima and Tom Gorman. The seller was Elk Homes LLC.

Built in 2017 by Elk Homes, Marina Court’s average rents are north of $6,000 a month. The 13-unit building traded for $11 million or $846,156 per unit, which is a record for the town and the second highest price per unit in Westchester County.

This transaction underscores the resilience of the Westchester County commercial real estate market and the strong demand for high-quality multifamily properties in the region. Moreover, they have seen many investors shift their focus to new construction, class A buildings — partly driven by New York State’s increasingly restrictive rent laws.

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Delisle and Monahan of Island Associates lease 1,050 s/f at Marion Oak Plaza

Columns and Thought Leadership

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.

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

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