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Commercial Observer – Slow Season: NYC’s Investment Sales Brokers Are Optimistic Despite a Challenging 2017

Those are the comforting words that Aaron Jungreis, the co-founder and president of brokerage Rosewood Realty Group, offered to Commercial Observer last week when asked about the state of the New York City investment sales market.... (read more)
January 31st, 2018|

The Real Deal – Are you a condo developer? Do you want a tax exemption? HPD says you better sell all your units first

When the state legislature revived the controversial 421a tax abatement in April, it drastically limited the number of exemptions available to condominium developers. And now, a new rule from the city’s Housing Preservation and Development agency will make it even more difficult for condo developers to receive the 421a benefit, The Real Deal has learned.... (read more)
December 6th, 2017|

The Real Deal – Retail vacancies in the heart of Williamsburg raise concerns

A TRD analysis found that the neighborhood is already feeling the brunt of the L train’s imminent shutdown. Retailers kicking tires in the growing Williamsburg retail district have more than changing shopping habits to worry about. The looming L train shutdown has put the brakes on leasing activity in the Brooklyn neighborhood, where the ... (read more)
December 1st, 2017|

New York Times – Recent Commercial Real Estate Transactions

RECENT SALE | $5.25 MILLION | 1191 Bedford Avenue | …. A foreign investor has bought this 7,200-square-foot, mixed-use four-story walk-up, with a fifth-story setback, offering six free-market apartments — two four-bedroom duplexes on the top two floors and four two-bedrooms on the lower ones. A Halstea... (read more)
November 7th, 2017|

Mann Report – Bestreich Realty Group Closes Eight Brooklyn Properties Totaling Over $20 Million

Bestreich Realty Group, a Brooklyn-based commercial real estate investment sales firm, announced eight recent Brooklyn closings totaling over $20 million. The $5.25 million sale of 1191 Bedford Avenue in Bedford-Stuyvesant. This is a 7,200 sq. ft. five story walk-up apartment building with six apartments and one store. Bestreich Realty Group’s Derek Bestreich, Luke Sproviero, Steve... (read more)
November 2nd, 2017|

Commercial Observer – 30 Under 30: The Best and the Brightest of NYC Real Estate

  Tom Reynolds, 26 Senior Associate, Bestreich Realty Group When Tom Reynolds’ older brother Stephen departed Marcus & Millichap in January 2016 to found Bestreich Realty Group, Tom followed. In some ways, it was inevitable that he would end up in real estate. His older brother took a job at ... (read more)
October 4th, 2017|

The Real Deal – Derek Bestreich on dealing with rejection, watching Brooklyn gentrify … & more

Bestreich Realty Group President Derek Bestreich got his start in the industry in 2009 as a broker at Marcus and Millichap and launched his own eponymous company seven years later with partners Luke Sproviero, Steve Reynolds, Erik Rodriguez and Adam Lobel. ... (read more)
September 16th, 2017|

Commercial Observer – City of Goldman: The Mysterious Developer Who’s Transforming Brooklyn

“These are guys who are opportunistic investors—they had a clear vision and saw opportunity and upside,” Derek Bestreich, the president of commercial brokerage Bestreich Realty Group … “They were able to take advantage of [the market] well in advance of that vision materializing. They saw the changes happening in Brooklyn and saw where things were going.” ... (read more)
September 13th, 2017|

New York Times – Recent Commercial Real Estate Transactions

144 Fourth Avenue (at Butler Street), Sold, $3.2 Million! A private investor has bought this four-story corner 1931 building, with 4,359 square feet in air rights, and two parking spots in the rear. The building has three three-bedroom floor-through apartments, which are market rate.   ... (read more)
September 5th, 2017|

Rebusiness Online – Bestreich Realty Group Brokers Two Mixed-Use Building Sales in Brooklyn Totaling $7.1M

NEW YORK CITY — Bestreich Realty Group has arranged the sales of two mixed-use properties located in Brooklyn. In the first transaction, Starr Lofts sold a newly constructed 4,500-square-foot mixed-use building, located at 100 Starr St. in Bushwick. Private investors acquired the property, which features eight multifamily units, for $3.2 million. Derek Bestreich, Steve Reynolds, Tom ... (read more)
September 5th, 2017|
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