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The offering includes industrial and residential properties and two parking lots.
“With the ongoing migration from New York City, we anticipate multifamily development in the suburbs will reach a high in the next two years,” said Sarah Jones-Maturo, president of RM Friedland.
The development is on the former site of the Showcase Cinemas multiplex.
The buildings were originally constructed in 1905.
There was strength in Westchester’s multifamily and industrial real estate sectors in the fourth quarter of 2019 while some leasing weakness was evident in...
The property dates back to the 1860s.
Industrial and flex properties, along with multifamily apartment buildings, continued to be in high demand in Westchester County during the third quarter of the...
“A lot of investors are looking to put their money into mixed-use properties," said Tom LaPerch, director of the commercial group for Houlihan Lawrence.
“We’ve seen a very good quarter and we’re seeing some very optimistic numbers,” Scott Elwell said.
"The property is currently 99 percent leased, and we expect that the new ownership will build on this solid base of high occupancy and quality management," said CBRE's Jeffrey Dunne.
Caruso discusses the commercial real estate market in Fairfield County, both on its own terms and in comparison with Westchester.
“The Norwalk submarket commands strong interest from a regional group of investors,” said Brad Balletto, vice president of investments at Northeast Private Client Group.
This has been a year when great changes in our real estate landscape have taken place. The next few years, as our cities continue to be built out and attract new residents, will be interesting to watch.
The buyer is a private investment group in New Jersey that was not identified in the announcement of the transaction.
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