Commercial Building Sales
While leasing activity has been down this year, investors have flocked to the relative safety of commercial real estate, especially in markets like Washington, D.C., where returns are higher than bonds. Recent examples include the sale of the Independence Square office tower. Commercial building sales are a good way to take advantage of the steady demand from investors. However, the market is still volatile. You should know about the advantages and disadvantages of each option before making an investment decision.
The Highcap Group is a Manhattan-based, full-service commercial real estate sales firm that specializes in financing, value-added brokerage services, and property acquisition. With decades of experience, its managing principals have negotiated billions of dollars worth of commercial property sales. With a unique approach to every situation and a reputation for personal service, Highcap Group helps building owners navigate the commercial real estate market. The team’s diverse background allows them to provide their clients with the most appropriate services for their specific needs.
Highcap was founded by Josh Goldflam and is located in New York City. The firm has 16 brokers and works in all sectors of the investment sales market, including financing arrangements and 1031 exchanges. Most of the firm’s deals are for properties under $10 million. Besides commercial real estate sales, the team has also completed a number of building packages in Manhattan. Highcap has been in business for 10 years and employs a team of experienced professionals with diverse backgrounds and unique skills.
In a recent development sale, Highcap Group arranged the sale of two adjacent mixed-use buildings located in the SoHo Cast Iron Historic District. The buildings are five stories tall, with 76 feet of frontage along Greene Street. Each building has 3,300 square feet of retail space on the ground floor, and eight residential lofts above. The transaction involved Highcap Group representatives representing the buyer and seller. The buyer and seller of these properties were both satisfied with the deal.
Admiral Real Estate Services Corp.
Located in Bronxville, New York, Admiral Real Estate Services Corp. is a company specializing in commercial real estate transactions. They handle investments and commercial properties, and also handle agency leasing and tenant representation. They have six licensed real estate agents who work for the company. These agents are licensed by the state of New York, and are licensed to conduct business in the state. This company uses the latest technology to provide their clients with the highest level of service.
The company’s experienced staff members bring different perspectives and backgrounds to its clients. Many have significant experience in real estate and corporate property management. Throughout their careers, they have represented both landlords and tenants in Westchester County. They have successfully matched vacant retail spaces with tenants. Currently, they represent 2 properties at the Post Road/Main Street intersection, 4 property on the river side of Main Street, a long-vacant two-story restaurant, and several properties on Post Road East near Balducci’s.
Walter & Samuels
The firm’s recent addition of Mark Jaccom as Executive Vice President will allow the firm to offer strategic brokerage services to third parties. Jaccom is a veteran of the industry, having served as an Executive Vice President for Citibank. He will bring his experience in corporate leasing and sales to the firm. He has worked on some of the biggest transactions of recent years, including the sale of 304 Park Avenue. Aside from his work in the brokerage department, Jaccom will also be responsible for developing and managing the firm’s commercial properties.
As a principal office in New York, Walter & Samuels Inc. conducts real estate transactions for individuals and businesses in New York County. Licensed real estate professionals, or Realtors, specialize in facilitating real estate transactions and manage properties. The firm’s license number is 109910631, which comes from the New York State Department of State. The firm’s address is 419 Park Ave So, New York, NY 10016.
The Waterman Interests LLC is a privately held company that specializes in office, retail, and mixed-use properties. While the company is primarily active in the New York City market, it also has a strong presence in Chicago and Los Angeles. Among the services the company provides are leasing and sales of commercial properties, as well as development and construction of commercial buildings. The company has been in business since 1978 and is based in New York.
The most recent deal completed by Waterman Interests LLC is the sale of 130 Prince Street in Manhattan to Invesco. Waterman Interests acquired this building in 2007 for $112 million. Since then, the company has begun an aggressive capital improvement and re-leasing campaign. The property now is leased to a variety of retailers, including Cole Haan, a division of Nike Inc., True Religion Jeans, Lacoste, Barbour Inc., and fashion designer Monika Chiang.
The first project Waterman Interests completed was the transformation of a historic retail property into top-quality office space. In August 2010, the company purchased a leasehold interest in a twenty-two-story property, which had been 50% vacant for three years. At that time, the building was home to a closed-down department store owned by SYMS. The Waterman Interests team worked with the fee owner to extend the leasehold of the property in 2013. The redevelopment resulted in an increase of leasing velocity and the completion of a complete re-tenancy.
The Waterman Interests, LLC partnership represents a variety of major tenants in the Manhattan market. Waterman is a member of the REBNY and is actively involved in various fundraising activities for not-for-profit organizations. He is actively involved in the Leukemia Lymphoma Society and the New Renaissance Basketball Association. Waterman also served as a vice-chairman of the Young Men’s/Women’s Real Estate Association, and is a past chairman of its New Leadership Division. In addition, he serves on the board of trustees of the New York City Police Museum.