All of my current projects involve hotels that have been destabilized by the pandemic, working to create and uncover value that can help restore and reorganize the capital stack from debt to equity for both owners and investors.
Press
According to Spur House Partners the firm has completed the $7 million off-market sale of 166 First Ave., a five-story walk-up between East 10th and 11th Sts. in the East Village. Shlomo Gelernter of Spur House Partners represented the buyer, Drew Popkin of Highpoint Property Group; and Jay Bernstein of Besen Partners represented the seller, 166 1st Avenue Realty Group. The 6,695 s/f building that was...
Everything is bigger in Texas — including the hotel rooms! MCR — the country’s 4th-largest hotel owner-operator — has acquired the 168-room Aloft Houston Downtown, a modern, 11-story hotel located in Houston. This is the company’s 38th hotel in the Lone Star State. The Aloft’s location is a huge draw: The hotel is just a five-minute drive from the George R. Brown Convention Center (the...
Besen Partners completed the sale of 147 Duane Street in TriBeCa for $7,100,000. Ron Cohen and Jay Bernstein represented the seller, and Anna Ji of Kian Realty procured the purchaser. The property is a 5-story mixed use elevator building containing four free market apartments and 1,000 s/f of retail on the ground floor. The 6,200 s/f building is 25 ft. wide and has a usable basement. The apartments...
Besen Partners has completed the sale of 3137 Fulton St., a two-story, 3,368 s/f mixed-use building with two apartments and a store. The subject is located in the Cypress Hills neighborhood. Besen Partners exclusively represented the seller and procured the purchaser in this transaction. The sale was handled by Ron Cohen and Jay Bernstein. The property sold for $1.035 million, which translates to a 6.1%...
After being appointed the chief sales officer of Besen Associates in 2016, Ron Cohen was already beginning work on one of the biggest transactions he’d ever work on. Cohen, alongside his fellow broker Brian Belkin who sourced the deal, focused their attention on an exclusive sales transaction at a Lower East Side property. Besen initially found a buyer offering $34 million for the property at 167-171...
How would you define or describe NYC’s commercial real estate market in 2016? Has it done better than your expectations? Overall, the investment sales market is healthy and continues to show strength, though it has unquestionably cooled the first half of 2016. While it’s down about 20% from both a dollar & volume standpoint for the first half, we have to maintain perspective that we’re...
Ron Cohen, newly appointed chief sales officer at The Besen Group, recently sat down with the New York Real Estate Journal for a question and answer session. Q: You’ve been at Besen for quite some time, right? How has your role evolved? A: I joined Besen & Associates as an investment sales associate in the spring of 2003. Given my business background, I was able to lend my experience to the...