The first week that New York City’s law severely restricting short-term rentals was in effect didn't produce a higher-than-usual boost to hotel performance, according to early data, but hotel industry leaders expect that in the longer term, the ban will be a boon.
The pandemic and its associated travel bans crushed hotels across the country, but the sector has come back in force thanks to a slew of positive fundamentals for the asset class.
A large industrial building, spanning 217-297 Getty Avenue in Paterson, New Jersey, has just been sold for $65.5 million. The structure was purchased by Thor Equities from the previous owner, Alma Realty Corp, in a deal brokered by Besen Partners.
Besen Partners negotiated the sale of 112 4th Ave., a five-story basement 13,969 s/f above grade D2 elevatored loft building located on the west side of 4th Ave. between E 11th and E 12th Ave. in the Union Sq./Greenwich Village neighborhood.
A massive development project in the Village of Woodbury that also would encompass a section of Harriman has been put back into the spotlight after a hiatus. The project, known as The Gardens at Harriman, has been valued at approximately $450 million and would involve the creation of apprximately 1,400 housing units along with approximately 300,000 square feet of retail space, office space, indoor recreation, restaurants, bars and personal service establishments.
Besen Partners Hotel Advisory Group has been awarded the exclusive agency for the sale of two newly constructed limited-service hotels in Rockaway, NY: a Best Western and a Wingate by Wyndham. Completed in 2018 and opened for occupancy in September 2019, the two semi-attached assets encompass 53,858 sq. ft., with a total of 146 rooms.
Greystone has provided a $16,600,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a 43-unit multifamily property in New York City.
New Canaan, CT An affiliate of Besen Partners, LLC, a New York-based full-service real estate advisory firm, has leased 258 Elm St. to Bankwell Financial Group. Bankwell signed a 10-year lease for the entirety of the 30,000 s/f office building, which will serve as the group’s headquarters. Its award-winning subsidiary, Bankwell Bank, is considered one of the state’s leading banking institutions, with 12 branches throughout Fairfield and New Haven counties.
Built in 1900, this five-story, 9,102-square-foot building in Brooklyn Heights contains 10 two-bedroom apartments and a basement studio. Nine of the apartments are vacant. The building had been in the previous owner’s hands for decades.
Paterson, NJ - Besen Partners is pleased to announce the sale of 217-297 Getty Avenue (the “Property”), a 3-story 764,364± SF multi-tenant warehouse/industrial building complex built on a 16.6 acre lot located in Passaic County between Madison Avenue and Thomas Street in the Lake View/South Paterson neighborhood of Paterson, New Jersey.