LichtensteinRE JUST SOLD Package of 2 Apartment Buildings in the Bronx for $4,448,000
Posted on Wednesday April 25, 2018

Andrew Lichtenstein, President of LichtensteinRE, just sold and closed a package of two multifamily properties in the Bronx for $4,448,000 all cash. This portfolio consists of two newly built walk-up apartment buildings located at 2072 Crotona Avenue and 598 East 167th Street in the Tremont and Morrisania sections of the Bronx. The two properties were just constructed in 2014 and 2016. The buildings are Net Leased to two different entities and have five year initial lease terms with lease renewal options.  Both buildings are 100% rented. “This is an amazing opportunity for the investor buyers to enjoy an initial 6.88% cap rate “NET LEASED NIRVANA” two brand newly built properties. Each building is net leased for relaxed, passive ownership,” said Andrew Lichtenstein, the seller’s exclusive listing broker. The 4 story buildings contain a total of 16 apartments with 52 rooms combined. The sales price represents $278,000 Per Unit, $363 Per Square Foot and a Cap Rate of 6.88%.   Andrew adds that “the starting cap rate gives the buyer a much greater return compared with the current market cap rates that are substantially lower returns.” The two buildings have combined 12,264 usable square feet total plus an additional 2,021 SF of air rights available for a total of 14,285 SF. The first property located at 2072 Crotona Avenue was recently built in 2014. It’s a 4 story walk-up building in excellent condition containing 8 apartments with 6,240 total existing building square footage. They are comprised of 1 studio and 7 one bedroom apartments. The property has a total of 23 rooms. The second property located at 598 East 167th Street was built in 2016. Just like the previous property, this is also a 4 story walk-up apartment building containing 8 apartments in 6,240 square feet. It contains 1 Studio, 1 one bedroom apartment and 6 two bedroom apartments making a total of 29 rooms. Andrew Lichtenstein exclusively marketed this transaction and represented both seller and buyer. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, financing ability and exclusive connections with tens of thousands of potential buyers assure their selling clients the best possible price. DoctorMortgage, which is LichtensteinRE’ s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE ’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE JUST SOLD Package of 2 Apartment Buildings in the Bronx for $4,448,000 LichtensteinRE

LichtensteinRE Negotiates $4,465,975 Sales Contract for a Package of 2 Apartment Buildings in The Bronx.
Posted on Thursday March 15, 2018

Andrew Lichtenstein, President of LichtensteinRE, negotiated the sales contract of a package of two multifamily properties in the Bronx for the asking price of $4,465,975 all cash. This portfolio consists of two new walk-up apartment buildings located at 2072 Crotona Avenue and 598 East 167th Street in the Tremont and Morrisania sections of the Bronx. The two properties have just been built in 2014 and 2016. The two properties are Net Leased to two different entities and have five year initial lease terms with lease renewal options.  Both buildings are 100% rented. The 4 story buildings contain 16 apartments with a total of 52 rooms. The contract price represents $279,123 Per Unit, a $364 Per Square Foot and a Cap Rate of 6.85%.    “This is an amazing opportunity for an investor who wants to enjoy a 6.85% cap rate owning these two newly built properties in this “NET LEASED NIRVANA” said Andrew Lichtenstein, the listing broker. The two buildings have combined 12,264 square feet total plus an Additional 2,021 SF of Air Rights available for a total of 14,285 SF. The first property located at 2072 Crotona Avenue was recently built in 2014. It’s a 4 story walk-up building in excellent condition containing 8 apartments with 6,240 total existing building square footage. They are comprised of 1 studio and 7 one bedroom apartments. The property has a total of 23 rooms. The second property located at 598 East 167th Street was built in 2016. Just like the previous property, this is also a story walk-up apartment building containing 8 apartments in 6,240 square feet. It contains 1 Studio, 1 one bedroom apartment and 6 two bedroom apartments making a total of 29 rooms. Andrew Lichtenstein exclusively marketed this transaction and represented both seller and buyer. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, financing ability and exclusive connections with tens of thousands of potential buyers assure their selling clients the best possible price. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE Negotiates $4,465,975 Sales Contract for a Package of 2 Apartment Buildings in The Bronx. LichtensteinRE

LichtensteinRE Negotiates $1,325,000 Sales Contract for an Extensively Renovated 7 Unit Property in Yonkers, Westchester.
Posted on Thursday March 15, 2018

Andrew Lichtenstein, President of LichtensteinRE, negotiated the sales contract of a multifamily building in Yonkers for the asking price of 1,325,000 all cash. The building is located at 67-69 Van Cortlandt Park Avenue in Yonkers, Westchester County. The property has just been beautifully renovated. The 3 story walk-up building contains 7 apartments.  Six of the units have 4 bedrooms and one has two bedrooms. The 2 bedroom apartment is located in the rear of the building.  All 6 four bedroom apartments have an unheated porch or “summertime 5th bedroom.”  The building has a Gross Total Floor Area of 6,240 Square Foot. Most units of the property have been completely gutted renovated with new wood floors, new kitchens with new cabinets and appliances, some with granite countertops and glass tiled backsplashes, and new modern tiled top to bottom bathrooms.   The property is targeted to have at closing an actual Gross Income of $148,800 and a Net Income of $106,036. The contract price of $1,325,000 represents $189,285 Per Unit, $212 Per Square Foot, 8% Cap Rate and 8.9% GRM. “In the long term future, after all the current low rent tenant units move out and are renovated and re-rented at market rate, the property will have a Future Projected Income of $198,000 with a projected  Net Income of $163,330. This could be a bargain to the current buyers a projected future Cap Rate of 11.6%,” explains Andrew Lichtenstein, the listing broker. The property is located in the Nodine Hills section of Yonkers in Westchester County. It enjoys great views of the Hudson River and the New Jersey Palisades Interstate Park National Historic Natural Landmark.  It has easy access to shopping and public transportation. The Property is only one mile from Yonkers Metro North Station and only 25 minutes to Midtown Manhattan’s Grand Central Terminal. Downtown Yonkers, located only a few miles from the building, is becoming the next hip town to live in New York.  New downtown and waterfront buildings are attracting young NYC professionals looking for a neighborhood like this, with easy commute to the city.  There are five active upscale residential construction projects within a five-block radius in the city’s downtown area. Andrew Lichtenstein exclusively marketed this transaction and represented both seller and buyer. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, financing ability and exclusive connections with tens of thousands of potential buyers assure their selling clients the best possible price. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE Negotiates $1,325,000 Sales Contract for an Extensively Renovated 7 Unit Property in Yonkers, Westchester. LichtensteinRE

LichtensteinRE Just Sold Three Contiguous Properties in Bronx, New York for $10,700,000 Cash Record Price.
Posted on Friday December 08, 2017

Andrew Lichtenstein, President of LichtensteinRE, has just sold a portfolio of three contiguous properties located at 2018-2020-2022 Monterey Avenue in Tremont, Bronx, for $10,700,000 all cash. Andrew Lichtenstein successfully closed this off-market deal for a record price for the Bronx. The sale represented a record breaking Gross Rent Multiplier which equated to an immediate 4.5% Cap Rate and $152,857 per unit. The average rents were extraordinarily low offering huge future rental growth to the buyer. Lichtenstein submitted multiple competing offers. The seller sold to this buyer because he is a repeat proven buyer even though Lichtenstein submitted an even higher priced offer. Marketing of this off market portfolio was restricted to 322 bona fide landlords who had signed exclusive buyer broker premium agreements of LichtensteinRE. These contiguous properties are 55,272 residential square feet, five to six story brick walk-up apartment buildings. They contain a total of 71 residential apartments consisting of 1 studio, 51 one bedroom and 18 two bedroom apartments. Andrew explains that “this amazing sale’s price was possible because the buildings have great upside to increase rents. The residential units were rented for an average of only $844 a month, while the average rent for this East Tremont neighborhood is $1,580 (results are based on 34 2-bedroom rentals within a ¼ mile radius, Rentometer.com Website)” “New rents for vacant apartments that are renovated are already going up to $1,200. The profitability outlook for this investment is extremely bright for even greater increased future net income.” said Andrew Lichtenstein. The properties, built in 1928, are located between East 178 and 179 Streets, only two blocks from East Tremont Avenue, a primary thoroughfare through the neighborhood and Tremont Park. Tenants have access to shopping and public transportation on 3rd Avenue and East Tremont and the B and D trains on Grand Concourse and 179th Street. For drivers going to Manhattan or other boroughs, they have easy access to the Cross Bronx Expressway and Major Deegan Expressway.  The property was sold by Andrew Lichtenstein who was the sole source that procured the buyer and the seller. LichtensteinRE has been actively selling multifamily property and setting sales records for its clients in and around New York City, especially in Brooklyn and Bronx.      About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE ’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com LichtensteinRE Just Sold Three Contiguous Properties in Bronx, New York for $10,700,000 Cash Record Price. LichtensteinRE

LichtensteinRE has Just Sold an Industrial Warehouse in Hunts Point, South Bronx, NY for a Record Price of $7,325,000 to The Wonderful Company
Posted on Thursday November 30, 2017

Riverdale, New York. (November 29th, 2017)  LichtensteinRE has just successfully sold an industrial manufacturing refrigerated and freezer distribution warehouse located at 1123 Worthen Street in Hunts Point, South Bronx, New York, 10474. The property was sold for a record price of $7,325,000 all cash. Back in 2008 Gourmet Guru a gourmet food distribution acquired this property and invested millions to outfit it as a state of the art refrigerated and freezer center centrally located in Hunts Point.  In 2016, Fortune 300 Company Nasdaq traded “UNFI” United Natural Foods Inc. with nearly $9 billion in revenue is the largest distributor of natural and organic foods, bought Gourmet Guru without the real estate. UNFI leased back the entire property until mid 2017. Just recently Andrew Lichtenstein sold this property which was delivered vacant at the time of the sale to new buyer The Wonderful Company based in California, one of the largest privately owned companies in the entire country with $ 4 billion in sales. The Wonderul Company is a grower and distributor of 9 brands including famous household names like POM Wonderful Pomegranate Juice, Wonderful Pistachios. Wonderful Company shall utilize the building partially to house their products and lease out the balance. Andrew Lichtenstein has arranged to lease out a large part of the remaining most valuable refrigerator and freezer space. According to NYC the property has 14,320 above ground usable square feet; however, including the usable storage cellar and parking lot there are actually 33,000 usable square feet at this industrial warehouse. The sale’s price represented a $512 per square foot and a Cap rate from the prior UNFI tenant of around 4.47%. The warehouse property located on the very desirable corner of Barry and Worthen Streets, is in mint condition, and was fully modernized, retrofitted and renovated in 2010. This industrial property built in 1920, contains brand new offices and conference rooms, state of the art security digital high definition cameras, usable expandable exterior roof deck, leed certified energy efficient HVAC cooling refrigeration system, fenced yard and a freight elevator. The building possesses a tremendous amount of electrical power consisting of two 400 amperage electrical panels, and five 250 amperage electrical panels making a total of up to 2,050+/- amps of electricity. Equally important, the property contains a corner parking lot with four 18 Wheel Truck Refrigerated Loading Bays. The new buyer will also get the property’s Premier location in (NYEZ) Economic Empowerment Zone benefits, including, but not limited if applied for and approved, low interest loan availability, tax credits, reduced/exempt real estate taxes, discounts on Con Ed gas and electrical utility rates, huge savings on mortgage recording tax and construction exemption sales tax. The building is located in the Trendy Hunts Point Section of the South Bronx, the New “Piano District.” Like Mott Haven and Port Morris, Hunts Point is going through a gentrification process. As an example, average rents in Mott Haven/Hunts Point rose by 28 percent between 1990 and 2010-2014. Additionally, almost 46% of all development in the Bronx is happening in the South Bronx. The property is right off the Hunts Point Food Distribution Center, the Largest Food Center in the World. Hunts Point Cooperative Market is a 24/7 wholesale food market located on 60 acres with revenues exceeding $2 billion annually. It is comprised of over 800 food wholesalers, distributors and food processing businesses and it employs over 25,000 workers. Finally, the property is Right off the Bruckner Expressway and other major highways for easy quick access to Manhattan and other boroughs. It is also located steps from the 2, 5 and 6 Subway Train Lines. The Property is located only two blocks away from the already approved Metro-North Train Stop in Hunts Point. The property was exclusively marketed by Andrew Lichtenstein who was the sole source that procured the buyers as well. LichtensteinRE has been actively selling multifamily property and setting sales records for its clients in and around New York City, especially in Brooklyn and the Bronx.   About LichtensteinRE   LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com LichtensteinRE has Just Sold an Industrial Warehouse in Hunts Point, South Bronx, NY for a Record Price of $7,325,000 to The Wonderful Company LichtensteinRE

Win-Win-Win. Seller, Flipper & Buyer. LichtensteinRE Just Sold and Resold a Brand New Renovated Multifamily Property in Yonkers, Westchester for $999,000 Cash.
Posted on Tuesday June 13, 2017

Andrew Lichtenstein, President of LichtensteinRE, has just successfully sold and resold the property located at 56 Groshon Avenue in Yonkers, Westchester, for $999,000 all cash negotiating the price down from the original asking price of $1,175,000. This Yonkers property is a completely renovated 5,200 residential square foot three story walk-up wood frame apartment building with Six (3.5 to 4) bedroom residential apartments plus large basement with seven storage spaces. Each tenant pays all utilities, including heat. The building contains 6 separately metered hot water heaters, 6 boilers and 7 electric meters making this investment a virtual net leased property. Andrew Lichtenstein successfully closed the deal twice on the same day, but this was not the first time he had sold this property. Andrew sold the building three consecutive times in four years. Andrew had previously sold the building in 2014. That year the property was in contract to be sold for $650,000 but a fire severely damaged the top floor and the fire department’s fire hoses damaged the rest, resulting in the evacuation and vacancy of the entire building. This derailed the sale and prevented the closing of that sale. Even before this accident, the property was in bad shape and rents were low. The Gross Annual Income was just $95,928. The owner at the time, Adar & Family, Inc. did not fix the property after the fire. In 2015, Andrew Lichtenstein again exclusively marketed the property for his owner, selling it to Wall Home Improvement LLC for $400,000.  Andrew Lichtenstein negotiated for his buyer the right to renovate and resell the property during the contract. Wall Improvement renovated the entire building, installing new appliances and fixtures in all units as well as a brand new roof and obtained a new certificate of occupancy. The bureaucracy, inspections and delays to obtain the c of o frustrated the developer, seller and buyer. Andrew Lichtenstein was once again exclusively engaged to sell for Wall Improvement. After finishing the renovations, Wall Improvement rented the residential units for an average of $2,200 a month, bringing a gross annual rental income to around $158,400. This was in excess of the pre-redevelopment projection of $157,200. Net Income after expenses are projected to be as high as $121,000 annually. LichtensteinRE sold it for the third time finally for $999,000. This last sale price represented $166,667 per unit. A Gross Rent Multiplier of 6.3. A Price per Square Foot of $192 and a Cap Rate of 12%.  “This transaction required incredible fortitude and patience. It was a most challenging and frustrating road to success. From beginning to end, including the fire, it took us five years to complete this transaction successfully,” said Andrew Lichtenstein. The property is located between Vark Street and Herriot Street, South Broadway and Riverdale Avenue in a low income but nice section of Yonkers. The property has amazing views of the Hudson River and scenic bluffs of the NJ Palisades National Park. Tenants have access to public transportation.  The building is located less than a mile of two different Metro North Train Stations; Ludlow and Yonkers stations. The train ride from Ludlow takes only 34 minutes to Grand Central Station in Midtown Manhattan. Tenants can also commute to the city taking the Westchester Bee Line bus and transferring to either the #1 Subway Train in the Van Cortlandt Park-242 Station in The Bronx or the MTA #9. The subway station is only 3 miles away from the building. For drivers going to Manhattan or other boroughs, it has easy access to the Saw Mill Parkway and Henry Hudson Parkway. The property is only around 25 minutes by car from to West 42nd Street in Midtown Manhattan. Yonkers is becoming the next hip town to live in New York. New downtown and waterfront buildings, attract young professionals looking for beautiful views and easy commute.  The city of Yonkers has started a marketing campaign called “Generation Yonkers” as an innovative economic development initiative created to reposition Yonkers as the next great urban frontier. Andrew Lichtenstein benefited the title seller, the developer contract vendor and the buyer. The property was marketed exclusively by Andrew Lichtenstein who was the sole source that procured the buyers as well. LichtensteinRE has been actively selling multifamily property and setting sales records for its clients in and around New York City and Westchester County.       About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE ’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE ’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com     Win-Win-Win. Seller, Flipper & Buyer. LichtensteinRE Just Sold and Resold a Brand New Renovated Multifamily Property in Yonkers, Westchester for $999,000 Cash. LichtensteinRE

10 Tips for First Time Multifamily Investors – #6: How to Find Great Tenants
Posted on Tuesday March 28, 2017

10 Tips for First Time Multifamily Investors – #6: How to Find Great Tenants 10 Tips for First Time Multifamily Investors – #6: How to Find Great Tenants Joe Killinger

Big Data 101: For Real Estate Brokers
Posted on Wednesday March 22, 2017

Big data, by definition, is large sets of data that can be incredibly complex and extensive. The data can be gathered and extracted from many different sources, and the number of sources are increasing constantly in the current age of technology. The data is being extracted from social media activity, internet browsing activity and even location information based on your mobile device and where you are. Big Data 101: For Real Estate Brokers REthink CRM

Wow! Seller Financing 10% ROI LichtensteinRE Retained as Exclusive Broker to Sell Congers Colonial Plaza Shopping Center in Congers, NY
Posted on Wednesday November 30, 2016

LichtensteinRE has been retained on an exclusive basis to sell Congers Colonial Plaza Shopping Center located at 285 North Route 303 in Congers, Rockland County, New York, 10920. The asking price was $7,000,000 but the price has been reduced dramatically by 17%. The seller is ready to sell for $5,830,000 All Cash. If a buyer is highly qualified ready to close in under 30 days as is unconditionally, the seller will provide something that every real estate buyer dreams about; Low rate, high leverage seller financing. With $1,330,000 down seller can hold $4,500,000 private money first mortgage at 4.5% interest only, giving a buyer $131,705/year Proforma NOIADS which is a 10% Proforma Initial Starting Return on Investment. This translates into a whopping 23% return on equity when factoring in depreciation tax benefits. This well maintained and highly trafficked brick shopping center was recently built in 1997, contains 15 Retail Stores ranging from 1,200 to 11,000 square feet, plus 9 interior enclosed garage/warehouse/storage spaces with 6.5’ overhead doors in the rear of building consisting of 1,250+/- and 2,500+/- square foot units.  The garages are fully occupied. The retail stores are occupied by 14 tenants. 1 retail space is currently vacant. The retail spaces represent 40,811 Square Feet of Usable Rentable Square Feet divided into 29,561 square feet of stores and 10,800 square feet of garage/warehouse/storage spaces.  The lot size is 121,968 Square Feet = 2.8 Acres. Located on a very desirable busy Route 303, where about 12,000 cars pass daily, the shopping center benefits from great roadway visibility. The property is right near the intersection of Routes 303 and 9W and has direct access to Palisades Parkway, Route 304, Route 9W and the New York State Thruway.  These retail stores are actively visited by the 27,000+ people living within a three mile radius and almost 100,000 people living within a five mile radius of the property.  Adding to its value, the shopping center is located in a wealthy Congers with an estimated Median Household Income of $105,273. Finally, the property is the only shopping center located among numerous residential communities, large office and industrial buildings, guaranteeing success for the restaurants and takeout food establishments in this shopping, as they provide food for the workers and residents. “This shopping center is a unique opportunity for a savvy investor who can capitalize on all the above market conditions, as there is a real need for shopping at this valuable location.  The winning buyer should take advantage of the well to do demographics and the lack of retail competition. This represents a great opportunity for a buyer to enjoy immediate high return on investment plus for a buyer who can manage this center more efficiently the upside potential is great,” said Andrew Lichtenstein, the property exclusive seller’s broker.” The Proforma Gross Annual Income at closing (Including vacant stores) is $610,284. The Operating Expenses are $224,564 and the NOI Net Operating Income after underwriting 5% vacancy and Collection Loss is $335,205.  2020 projected NOI is $437,488. The cap rate is 5.75% but the projected cap rate for 2020 is 7.5%. As an additional incentive, the seller had offered to lease back the 11,000 SF space previously occupied by Tutor Time Child Care for $13,750 per month for 6 months after closing. This $82,500 will give the buyer a time head start toward buyer’s effort to re-rent this space after closing.  Tutor Time Child previously paid $17,000/month but they just vacated July 2016.  “This could be a great opportunity for a user or landlord who can bring in a school, daycare or after school program looking for a first class fully built out well maintained space,” Andrew says. Congers is a suburban town only 19 miles north of New York City’s boundary and only 43 minutes by car drive from Manhattan. It is located in Rockland County in the municipality and school districts of Clarkstown. 90.6% of Congers habitants have graduated high school or higher and the Median Housing Value is $443,900. The property is being marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE has been actively selling multifamily and commercial real estate for its clients in and around New York City, including a recent $6,000,000 sale of a multifamily property in nearby Haverstraw, NY. About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’ s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE ’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com Wow! Seller Financing 10% ROI LichtensteinRE Retained as Exclusive Broker to Sell Congers Colonial Plaza Shopping Center in Congers, NY LichtensteinRE

LichtensteinRE Retained as Exclusive Broker to Sell “Money Tree” Morris Heights 2 adjacent 5 unit properties in The Bronx, New York
Posted on Wednesday April 06, 2016

  LichtensteinRE has been retained on an exclusive basis to sell a package of two adjacent apartment buildings located at 71 and 74 West 174 Street in the Morris Heights section of the Bronx, New York. The asking price is $3,285,000 but offers at all prices are invited. Even before the property goes to market Lichtenstein received 2 offers, one for $3,150,000 subject to 9 month closing to give the buyer time to submit architectural plans for new development. The properties consist in 2 three story walkup five family apartment buildings totaling 10 two bedroom residential units. These 9,569 usable square feet buildings are in excellent shape as the apartments and the entire building was completely rebuilt in 2009. The properties include amenities like a huge 13 on-site parking lot that could be quickly readjusted to accommodate 2 more spaces for a total of 15 parking spaces. There is also laundry room.  A “top of the line” new $50,000 value latest high definition security system has just been installed. Both properties are 100% free market creating a unique opportunity for quick, ready, hugely profitable redevelopment. Additionally, the properties offer “unlimited” possibilities for developers.  They have 24,533 Unused Available Additional Unbuilt Buildable Square Footage, or potential to demolish and reconstruct a 34,102 square foot apartment Building with up to 44 to 73 Apartments in this R7-1 3.44 FAR zoning.  To generate the greatest density and profit at this site a developer for community facility could use the 4.8 FAR to construct 47,585 square feet or up to 139 units. “These properties are a rare opportunity for a developer because they have tremendous air rights and building potential,” said Andrew Lichtenstein, the exclusive seller’s broker.  He estimates that the Profit Potential to demo, build, rent up & sell as an ordinary market rate rental development could be of $10,789,016 and the Profit Potential to demolish, build & resell as an affordable housing project could make as much as $36 million in profit. If a developer could get approval for certain community facility usage up to $50 million could be made on this one site. If the properties would be demolished and rebuilt as a Community Facility, the developer could use until a maximum of 47,588 square feet to build until 139 apartments. Andrew Lichtenstein explains that “this is a perfect dream deal for a NYC/NYS Federal Affordable Housing agency program for a residential housing developer to make a windfall profitable development”. The asking price represents a 5.18% Cap Rate and an 8% Initial Cash on Cash ROE Return on Equity Investment Net Income plus Principal amortization.  The Price per Maximum Usable Buildable Square Footage and Air Rights is only $96 residential and $69 PBSF as a community facility. The properties are located in a very desirable R7-1 zoning district on West 174 Street, between Nelson Avenue and Macombs Road. They are near the 4 train on Jerome Avenue and the 2 and 3 trains in Grand Concourse. They are also near shopping, public buses and schools. The properties are being marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City. LichtensteinRE invites broker participation.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com     LichtensteinRE Retained as Exclusive Broker to Sell “Money Tree” Morris Heights 2 adjacent 5 unit properties in The Bronx, New York LichtensteinRE

LichtensteinRE Just Completed $680,400 Sale of 2nd Parcel in Brighton Beach, Brooklyn Development Site Assemblage
Posted on Wednesday March 23, 2016

Riverdale, New York.Andrew Lichtenstein, President of LichtensteinRE, is proud to announce the culmination of a development assemblage site in Brooklyn after selling a development site located at 3018 Brighton 5 th Street in the Brighton Beach section of Brooklyn, for $680,400 all cash. This development site was added to its sale of the contiguous property at 3016 Brighton 5 th Street, also sold by LichtensteinRE December 2015, allowing the buyer to more effectively develop on a combined double lot for maximum FAR developments rights. The purchase price of both sites combined was $1,455,400. The site sold on March 2016, has 7,776 buildable square feet and a lot size of 2,880 square feet.  Presently the site contains a 4,480 square foot wood frame 2 story 2 family home plus garage.  After finishing this assemblage, the developer buyer now enjoys a larger combined 6,000 square foot parcel of land representing a total projected buildable square footage of 13,200 square feet. Both lots are located in a R6/OP zoned multifamily residential zone. Andrew Lichtenstein recommended the investor to apply for and construct up to 19 one bedroom apartments, containing 57 rooms. In 2015, the average one bedroom rents in the neighborhood was $1,829 a month.  Andrew used a more conservative average monthly rent of $1,650 to project future residential apartment annual rental income of $376,200.  Additionally, he projected a rental income for interior street level parking that is in such short supply in the neighborhood of $57,000 plus a rental income for 19 roof level storage units of $34,200.  The projected gross income could reach $469,083 and the projected net income projected could reach $375,347 annually. The sale price of the assemblage represents $110 per buildable square foot and $76,600 per buildable unit if the buyers build 19 apartment units. “As a way to always find better ways to serve the New York real estate community, we have been successfully assembling development sites in the Brighton Beach section of Brooklyn. Brighton Beach is a great neighborhood, rapidly changing from one family houses to modern multifamily buildings”, said Andrew Lichtenstein. The assemblage property is located between Ocean View Avenue and Ocean Parkway in a very desirable section of Brooklyn near shopping and popular Russian restaurants. Additionally, future tenants will have easy access to the beautiful Atlantic Ocean beach and the world famous Boardwalk adding to the supply of high demand summertime rentals currently a rare commodity. They can maximize summer fun by enjoying fishing, swimming and boating activities and some of the world’s best Oysters and Clams right there near Sheepshead Bay and Coney Island. Additionally, the property is only 1 block from the B and Q subway lines and the B1, B4 and B68 MTA buses.  For drivers going to Manhattan or other boroughs, it has easy access to the Belt Parkway. The property was marketed exclusively by Andrew Lichtenstein who was the sole source who procured both the exclusive seller as well as the developer buyers. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.       About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com. LichtensteinRE Just Completed $680,400 Sale of 2nd Parcel in Brighton Beach, Brooklyn Development Site Assemblage LichtensteinRE

LichtensteinRE introduces New Commercial Real Estate Leasing Division, Successfully Closing Lease in Only 3 Days
Posted on Thursday March 03, 2016

Riverdale, New York.  LichtensteinRE proudly introduces its new leasing division with an astounding first transaction that was finalized in only three days, from the potential tenants’ first call until the lease was signed.  LichtensteinRE found, advised and successfully arranged the leasing of 3,500 square foot property located at 674 Casanova Avenue in the Hunts Point section of the South Bronx to the Hudson Livery Company. Akiva Weisz and Yossi Hollander, owners of Hudson Livery, a company that leases new cars to NYC medallion taxi cabdrivers as well as to independent ride sharing livery drivers like Uber and Lyft, contacted LichtensteinRE looking for the right warehouse space in The Bronx to expand their business for its second location.     “Hudson Livery is very optimistic as they continue to expand their fleet of cars.  They called me because they needed to quickly lease space that fit their budget and for a specific size space located in the Hunts Point section of the Bronx for their growing business,” said Andrew Lichtenstein. Andrew was able to identify the ideal location.  The businessmen agreed and quickly signed a 5 year lease as the one story street level warehouse was perfect for their needs with around 500 square feet of office space plus 3,000 square feet for their fleet of new cars that they lease out to commercial and private drivers. The warehouse is ideally located in Hunts Point in the South Bronx, near all highways, easily accessible, only minutes from Manhattan. This special location will allow Hudson Livery Leasing to better access its clients across the city.  Additionally, it is less than half a mile from the 6 Train for convenient access for employees and customers. LichtensteinRE represented both the tenant and the landlord in this transaction.  Andrew Lichtenstein is very excited to start this new leasing division that will come to complement the great work the company has been doing representing landlords when selling their commercial real estate assets. Until now, LichtensteinRE has been actively selling multifamily, mixed use and commercial real estate investment properties for its clients in and around New York City and arranging their commercial real estate financing. “LichtensteinRE will continue using its market knowledge and expertise providing advisory and transaction services for landlords looking to lease their properties in the 5 boroughs of NYC. The company will use its connections and marketing platform to achieve the best possible results for all parties involved in every transaction,” said Andrew Lichtenstein       About LichtensteinRE LichtensteinRE specializes in the exclusive sales and financing of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com               LichtensteinRE introduces New Commercial Real Estate Leasing Division, Successfully Closing Lease in Only 3 Days LichtensteinRE

LichtensteinRE Retained as Exclusive Broker to Sell Gut Rehabbed 6 Residential Unit Property in Yonkers, New York
Posted on Friday January 15, 2016

  LichtensteinRE has been retained on an exclusive basis to sell a multifamily apartment building located at 56 Groshon Avenue Yonkers, Westchester, New York. The asking price is $1,175,000 but offers at all prices are invited. The property, built in 1965, is a three story walk-up building containing six residential 3 1/2 or 5 bedroom apartments totaling 36 rooms plus a large basement with 7 storage spaces that can also be rented. The 5,958 square feet building sits on a 2,612 square foot lot, is currently undergoing complete gut rehab renovations from the roof down. The building can be either delivered rented or vacant at the time of the closing. “This is a great opportunity for an investor who is looking for a clean and easy to manage, just renovated building. An additional benefit for the investor is that tenants will pay all utilities including heat as the property has 6 individual hot water heaters, 6 boilers and 7 electric meters. This makes for a profitable investment.” said Andrew Lichtenstein, the exclusive seller’s broker. Once renovations are completed, all apartments will have new hardwood flooring, sheetrock walls and ceilings, lighting, kitchens, bathrooms, appliances and fixtures and the building will have a new roof. The new buyer will enjoy an estimated of 10.3% return of investment/Proforma cap rate and an annual net ordinary operating income of $121,070. The building is located in a desirable Yonkers location between Vark Street and Herriot Street.  It has beautiful views of the Hudson River and scenic bluffs of the NJ Palisades Park and Preserve.  It is only blocks away from the city line and it has easy access to Manhattan through the Metro North railroad and the Westchester Bee-Line connecting to MTA buses and the #1 subway.  It is close to the Cedar Place Elementary school, St. Mary School and St. Peter School. Yonkers is a great destination for people looking for affordable living with easy access to the city. The city of Yonkers also offers a variety of new restaurants, shopping and art galleries by the Hudson River waterfront. Yonkers has successfully attracted millennials through a marketing campaign called “Generation Yonkers” where the city was promoted as the “next great urban frontier to live, work and play.” On June, 2015 Yonkers was voted the “Hippest Town” in the Hudson Valley.   The property is being marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com   LichtensteinRE Retained as Exclusive Broker to Sell Gut Rehabbed 6 Residential Unit Property in Yonkers, New York LichtensteinRE

LichtensteinRE Retained as Exclusive Broker to Sell Brooklyn Two Net Leased Retail Condominium Properties that Require Little or No Expense to Buyer.
Posted on Tuesday December 29, 2015

Riverdale, New York. (December 28th, 2015)  LichtensteinRE has been retained on an exclusive basis to sell two Brooklyn 100% rented retail condominiums located at 105 Kings Highway in the Gravesend/Bensonhurst Section of Brooklyn. The asking price is $4,199,999 but at all offers are invited. The Retail Units consist of a Medical Radiology Office and a School/Child Day Care containing a total of 8,500 Square Feet, located on the ground floor of a class “A” top quality condominium building built in 2003. These Net lease income properties require little or no expenses to Buyer. The rents rise annually at 3% a year and 421A Tax Abatement is preserved for 5 more years. The lucky buyer should receive a 7% True Cash On Cash Return On Equity Investment (ROE). The scheduled Gross Income for 2016 is $226,212 and the Effective Gross Income is $212,913 this year. The first retail condominium is leased to a radiology center occupying 3,156 sf of space. This successful center offers general digital services like Cat scan, MRI, CR (digital X-ray) and women services like bone density testing and ultrasounds. The second condominium is leased to the Brooklyn branch of a Montessori School/ Day Care occupying 5,293 square feet. The Building is located on a very desirable street near shopping, a public library, public and private schools and the Seth Lower Playground/Bealin Square with playgrounds, basketball and handball courts. Additionally, the properties are walking distance to the F and D subway lines and surrounded by public transportation on Bay Parkway and Stillwell Avenue. Finally, the properties have easy access to the Belt Parkway. Like all Brooklyn, the neighborhood is experiencing a real estate boom. ”The Borough has become the “darling” of New York City. In the past, New Yorkers came to Brooklyn because Manhattan was too expensive to afford, but now people come here as a principal destination,” said Andrew Lichtenstein. LichtensteinRE has negotiated preapproval of 3.75% fixed rate mortgage financing with one bank lender offering $2,400,000 another offering $2,500,000. The property is being marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE has been actively selling multifamily, mixed use and retail property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com             LichtensteinRE Retained as Exclusive Broker to Sell Brooklyn Two Net Leased Retail Condominium Properties that Require Little or No Expense to Buyer. LichtensteinRE

LichtensteinRE Provided Key Assistance to Aid the Sale of a Package of Two Apartment Buildings in The Bronx, New York
Posted on Monday December 28, 2015

Riverdale, New York. (December 28 th, 2015) Andrew Lichtenstein, President of LichtensteinRE, provided key assistance to aid the sale of a package of two multifamily properties in the Bronx.   This portfolio consisted of two five story walk up apartment buildings located at 974 Anderson Avenue and 10452 & 1920 Loring Place, containing 20 apartments with a total of 12,000 square feet. The actual average for monthly rent is only $879 but after upgrading the apartments rents could go up to $1,900 a month. LichtensteinRE had been hired exclusively by the seller to sell his properties. Unfortunately the seller passed away before marketing could even begin. “The properties were in an extreme state of disrepair and the previous landlord had been jailed for not clearing more than 300 hundred violations.  The new buyer understood the great potential of renovating these large apartments that are now rented well below market value. After he realizes the full potential revenue potential of these buildings, his return on investment will be even greater,” Andrew Lichtenstein the exclusive seller’s broker said. The first property located at 974 Anderson Avenue between 163 and West 164 th Streets was built in 1908. It’s a 5 story walk-up apartment building containing 8 large four bedroom apartment and One two bedroom with a total of 12,160 square feet. According to the seller, the scheduled rental income may have been as high as $175,000. The property is in the High Bridge neighborhood in Bronx, a super desirable location near the new Yankee Stadium. The second property located at 1920 Loring Place South between 179 th Street and West Burnside Avenue, was built in 1915. This 5 story walk-up apartment building, contains 10 3 bedroom apartments plus 2 bedroom apartment in the basement in 14,400 square feet. According to the seller, the scheduled rental income may have been as high as $58,200. The property is located in the University Heights section of The Bronx.   LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, financing ability and exclusive connections with tens of thousands of potential buyers assures their selling clients the best possible price. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE Provided Key Assistance to Aid the Sale of a Package of Two Apartment Buildings in The Bronx, New York LichtensteinRE

LichtensteinRE Just Sold a Development Site in Brighton Beach, Brooklyn for the Full Asking Price of $775,000 All Cash.
Posted on Monday December 28, 2015

Riverdale, New York. (December 28th, 2015) Andrew Lichtenstein, President of LichtensteinRE, has just sold the development site located at 3016 Brighton 5 th Street in the Brighton Beach section of Brooklyn, for the full asking price of $775,000 all cash. This site is a 3,200 square feet lot containing a 4,480 square foot wood frame 2 story 2 family home plus garage. The sale price represents a bargain of only $110 per buildable square foot and $77,500 per unit if the buyers build 10 apartment units. For the developer buyer, it represents a total projected buildable square foot of 7,040 and a projected usable sf of 6,054. Andrew Lichtenstein, the exclusive listing broker suggested that the buyers attempt to apply for and construct up to 10 one bedroom apartments, representing 6000 square feet of usable residential apartments. In 2015, the average of one bedroom rents in the neighborhood was $1,829 for a one bedroom apartment.  Andrew used an average monthly rent of $1,650 to get to a projected residential apartment total gross annual rental income projected of $198,000.  Additionally, he projected a rental income for street level parking and other sources of $48,000.  The projected gross income could reach $247,683 and the Net Income projected after expenses could reach $183,468 annually. “As exclusive broker, we were able to find a buyer who recognized this fantastic development opportunity and took advantage of these profitable projections,” said Andrew Lichtenstein. The property is located between Ocean View Avenue and Ocean Parkway in a very desirable section of Brooklyn near shopping and popular Russian restaurants. Additionally, future tenants will have easy access to the beautiful Atlantic Ocean beach and the world famous Boardwalk making high demand summertime rentals a rare commodity. They can maximize summer fun by enjoying fishing, swimming and boating activities and some of the world’s best Oysters and Clams right there in Sheepshead Bay and Coney Island. Additionally, the property is only 1 block from the B and Q subway lines and the B1, B4 and B68 MTA buses.  For drivers going to Manhattan or other boroughs, it has easy access to the Belt Parkway. The property was marketed exclusively by Andrew Lichtenstein who was the sole source that procured the buyers as well. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.       About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com     LichtensteinRE Just Sold a Development Site in Brighton Beach, Brooklyn for the Full Asking Price of $775,000 All Cash. LichtensteinRE

LichtensteinRE Sold Walk-Up in Bay Ridge for Record 2.98% Cap Rate for Nonagenarian client who predates his 1928 building
Posted on Monday May 11, 2015

Riverdale, New York. (May 10, 2015) Andrew Lichtenstein, President of LichtensteinRE, has sold the property located at 194 Gelston Avenue between 92 nd and 94 th Streets in the Bay Ridge section of Brooklyn, for $3,850,000 all cash. LichtensteinRE was able to close the sale for the seller at a windfall of 2.98% Capitalized Rate of return on the current actual net income at closing. The sale price represented $238 per square foot and $190,000 per unit. The building sold for 14.72 times the actual current rent.   This Cap Rate is well below Brooklyn’s average of around 5.45% percent and this Gross Rent Multiplier is well above the Brooklyn’s average of 12.48. GRM. “This is an incredible achievement for the Bay Ridge area. This price raises the bar for buyers and competing brokers,” said Andrew Lichtenstein, President of LichtensteinRE and the seller’s exclusive broker. The rare 55 foot wide building has 16,000 square feet, 4 story walk up apartment building containing 20 large prewar units. It is 87 years old and maintained in fine condition. 75% of the apartments have been renovated. “The adorable nonagenarian owner told me that he was born before the building that was built in 1928. Despite the owner’s advanced age, my seller client was sharp as a tack, displayed incredible negotiating business savvy and has more spunk, vitality and energy than most people in their 20’s. The owner demanded the highest possible price but it had to be a quick sale. It was my pleasure to generate a meeting of the minds very quickly and relied on the owner’s attorney to close the sale thereafter,” said Andrew Lichtenstein. The average monthly rent is $1,272 which is far below market for this neighborhood presenting a big upside potential for the buyer.  As exclusive broker, LichtensteinRE was able to find a buyer who made his offer immediately, leaving other slower paced competing bidders disappointed, as he recognized the great value-add, upside potential of the current undervalued rent roll. “The buyer, who owns multiple properties in the neighborhood and Manhattan is very excited about the opportunity of owning such a clean and well maintained building at this great location,” said Andrew Lichtenstein. The building is located in Bay Ridge, Brooklyn on a quiet and beautiful block. At the same time, it is around the corner from the 5 th Avenue shopping district, the R subway station and the local public school. The property was marketed exclusively by Andrew Lichtenstein. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.      . About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com     LichtensteinRE Sold Walk-Up in Bay Ridge for Record 2.98% Cap Rate for Nonagenarian client who predates his 1928 building LichtensteinRE

LichtensteinRE Retained as Exclusive Broker to Sell Brooklyn Portfolio of 5 brand new properties located in Brighton Beach and Sheepshead Bay.
Posted on Monday May 11, 2015

Riverdale, New York. (May 10 th, 2015)  LichtensteinRE has been retained on an exclusive basis to sell a Brooklyn portfolio consisting of 5 newly constructed multiuse apartment buildings located at 3051 Brighton Beach 3 rd Street in Brighton Beach and at 2971-2979 Ocean Avenue in Sheepshead Bay Brooklyn. The combined asking price is $24,500,000 but offers at all prices are invited. 3051 Brighton Beach 3 rd Street in Brighton Beach is a Class “A” top quality 4 Story Elevator Apartment Building Including Mezzanine, built in 2013.  It contains 38,000+/- square feet including a five stop elevator, 33 residential apartments and a commercial office. Parking in the area is extremely valuable. It also has an 18 car interior and exterior car parking garage. 2971-2979 Ocean Avenue in Sheepshead Bay consists of four contiguous 3-story mixed use buildings constructed in 2010 with total of 8 apartments and 4 stores. Each building is 20 feet wide and has 1 store and 2 apartments. The properties now consist of 14,600 SF. 28,000 SF is the total buildable square footage. A buyer can vacate and demolish 2 corner properties and construct a new 21,000 SF mixed use property, while enjoying cash flow from the other 2 buildings with their 7,200 SF. Both properties are located on desirable streets near shopping and popular Russian restaurants. Additionally, tenants have easy access to the beautiful Atlantic Ocean beach and the world famous Boardwalk making high demand summertime rentals a rare commodity. They can maximize summer fun by enjoying fishing, swimming and boating activities and some of the world’s best Oysters and Clams right there in Sheepshead Bay and Coney Island. The properties are walking distance to the B and Q subway lines and public transportation. Additionally, the properties are located near major streets like Coney Island and Brighton Beach Avenues and the Belt Parkway. Like all Brooklyn, the neighborhood is experiencing a real estate boom. ”The Borough has become the “darling” of New York City. In the past, New Yorkers came to Brooklyn because Manhattan was too expensive to afford, but now people come here as a principal destination,” said Andrew Lichtenstein. The property is being marketed exclusively by Andrew Lichtenstein, Inc. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com         LichtensteinRE Retained as Exclusive Broker to Sell Brooklyn Portfolio of 5 brand new properties located in Brighton Beach and Sheepshead Bay. LichtensteinRE

LichtensteinRE has been Exclusively Retained to sell a Trophy “Central Park like” Development Site on Riverdale
Posted on Thursday October 30, 2014

Riverdale, New York. (October 30 th, 2014)  LichtensteinRE has been retained on an exclusive basis to sell a “Central Park like” Development site on edge of Fieldston’s most desirable Riverdale. The site is  located at 5278 Post Road in Riverdale, NYC and its asking price is $11,500,000 all cash. The site consists of 25,219 square feet,.58 of an acre of land on its two combined lots forming an “L” shape. The western side of the property sits on Post Road overlooking exclusive luxury Fieldston section of Riverdale where private homes sell for as much as $6,000,000. The largest eastern side has substantial, valuable frontage at 6301 Broadway with stunning views of bucolic Van Cortland Park directly opposite the property. The current owner/developers of the site are working with its architect and propose a mixed used building. The as of right FAR is 3.0 times the land area. According to proposed plans, a qualified buyer will be able to build a seven story elevator building above the Post Road level containing 75,657 residential square feet with 95 to 100 Residential Apartments. The building will additionally sit on top of an interior 13,500 square foot interior parking garage subfloor that will further sit on top of an 11,460 square foot community center such as high demand medical offices at its Broadway address. Tenants and patients will be able to drive from Broadway up to the interior parking garage. Will all spaces counted as much as 111,688 square feet can be constructed. Alternatively, a 100% community facility developer can build 126,000 square feet via 5.0 FAR. “This may be the very last development site on Van Cortland Park and is a special property on busy Broadway, ideal for retail medical offices. Many residential units will have extraordinary views of Van Cortland Park to the East, and the exclusive Fieldston neighborhood to the North and West. The future lucky buyer/developer will have the greatest likelihood to receive tremendous profits whether the property is rented out as luxury apartment rentals or sold as condominiums,” says Andrew Lichtenstein the exclusive listing broker. The site is also right across the street of the prestigious Riverdale Country School, attracting families to the area from other neighborhoods. The Property is next to public transportation, the subway station serving the 1 Train going to Manhattan and the busy Shopping Kingsbridge District on Broadway. The property has convenient proximity to major highways like the Henry Hudson Highway and New York State Thruway with Manhattan as little as 7 minutes away by car. Riverdale is Manhattan’s closest suburban residential neighborhood conveniently situated less than 4 minutes or 3 miles from northern Manhattan by car or a 22 minutes to Midtown by Metro North. Riverdale is practically “the Upper, Upper West Side of Manhattan” and is one of Manhattan’s closest and most desired bedroom communities. Fieldston is Riverdale’s most sought after, exclusive, private historical single family neighborhood with its many multimillion single family homes and mansions.  The property is being marketed exclusively by Andrew Lichtenstein from LichtensteinRE. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888  or   AL@LichtensteinRE.com   LichtensteinRE has been Exclusively Retained to sell a Trophy “Central Park like” Development Site on Riverdale LichtensteinRE

LichtensteinRE negotiates $3,850,000 Sale Contract for its Exclusive Property in Bay Ridge, Brooklyn
Posted on Thursday October 30, 2014

Riverdale, New York. (October 30 th, 2014) Andrew Lichtenstein, President of LichtensteinRE, negotiated the sales contract of the property located at 194 Gelston Avenue between 92 nd and 94 th streets in the Bay Ridge section of Brooklyn, for $3,850,000 cash. The price and “as is” sales terms of the contract satisfy the long term seller’s requirements. The 100% occupied property is a 4 story walk up apartment building containing 20 large one and two bedroom prewar apartments. 75% of them have renovations. The average monthly rent is $1,272 which is far below market for this neighborhood presenting a big upside potential for the buyer.  The price offered represents $192,500 Per Unit and $241 Per Square Foot. “The buyer, who owns multiple properties in the neighborhood and Manhattan is very excited about the opportunity of owning such a clean and well maintained building at this great location,” said Andrew Lichtenstein. The building, built in 1928, is maintained spotlessly and is in mint condition by its owner of more than 40 years. Andrew Lichtenstein says, “The current ownership consists of a family whose patriarch predates the 1928 construction of the building.” The property has 16,000 usable square feet built 55 x 89 on a 55 x 100 lot and is zoned R5B/BR. The building is located in Bay Ridge, Brooklyn in a quiet and beautiful block. At the same time, it is around the corner of the 5 th Avenue shopping district, the subway station serving the R train and the local public school. The property was marketed exclusively by Andrew Lichtenstein. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com   LichtensteinRE negotiates $3,850,000 Sale Contract for its Exclusive Property in Bay Ridge, Brooklyn LichtensteinRE

LichtensteinRE has just sold a package of 3 Apartment Buildings in The Bronx, New York for $7,700,000 with 20%/Year Return on
Posted on Thursday September 11, 2014

Riverdale, New York. (September 11th, 2014) Andrew Lichtenstein, President of LichtensteinRE, has just sold a package of three multifamily properties in the Bronx for $7,700,000 cash. This portfolio consists of three walk up apartment buildings located at 1405 Rowland Street, 2220 Adams Place and 2327 Walton Place. The properties are in excellent condition and beautifully maintained with lovely architectural ornately detailed terracotta tile and marble. All the properties have new security systems. The buildings contain 60 large mostly renovated apartments with a total of 197 rooms. The buildings are 100% rented averaging $1,273+/- a month. They are comprised of 4 studio, 39 one bedroom, 13 two bedroom and 4 three bedroom apartments.     “These large apartments are rented below market value representing great upside potential for the new owner. After he raises the properties’ rents, his return on investment will be even greater,” Andrew Lichtenstein the exclusive seller’s broker said. The properties contain 53,423 total square feet of usable space plus 12,395 of unused developable square footage. The contract price represents $128,333 Per Unit, a $144 Per Square Foot and a Cap Rate of 6.9%. Andrew Lichtenstein explains that “What was most amazing is the extraordinary positive leverage and tremendous cash on cash return that our buyer should enjoy. Our buyer locked in a rate of only 2.9%. Paying 6.9% cap rate gives the buyer an unbelievable 4% profitable positive leverage on every dollar borrowed. With 80% loan to purchase price our buyer’s starting return on investment should be 14% and at the end of year 1 when adding back the mortgage amortization our buyer’s return on equity should be 20% which is the best way I know to create great tremendous wealth with real estate. I always strive to create a win-win sale and purchase that benefits our buyer and seller clients and this sale is a textbook example I strive to duplicate in every sale.” The first property located at 1405 Rowland Street in Westchester Village was built in 1927. It’s a 4 story excellent condition walk-up apartment building containing 27 large apartments in 22,560 square feet. The second property located at 2220 Adams Place in Belmont was built in 1931. It’s a 5 story walk-up apartment building containing 16 large apartments in 14,663 square feet. Belmont is also known as the famous “Little Italy of The Bronx”. Finally, the third property located at 2327 Walton Avenue in Fordham Heights was built in 1926.  It’s a 4 story walk-up excellent condition apartment building containing 17 large apartments in 16,200 square feet. Andrew Lichtenstein exclusively marketed this transaction and represented both seller and buyer. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, financing ability and exclusive connections with tens of thousands of potential buyers assures their selling clients the best possible price. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com ### LichtensteinRE has just sold a package of 3 Apartment Buildings in The Bronx, New York for $7,700,000 with 20%/Year Return on LichtensteinRE

LichtensteinRE Sells a 23 Unit Apartment Building in Brighton Beach, Brooklyn for $4,000,000
Posted on Wednesday June 25, 2014

Riverdale, New York. (June 25th, 2014) Andrew Lichtenstein, President of LichtensteinRE, exclusively represented the sale of a Brooklyn property for $4,000,000 all cash. The property is a 4 story walk up apartment building containing 23 large prewar units located at 129 Ocean View Avenue, on the corner of Ocean View and Brighton 1 st Street in Brighton Beach. It was built in 1926 and maintained in perfect condition. The buyer is happy to own a property in such a desirable location. He was able to move quickly with his offer, leaving other bidders disappointed. The buyer’s purchase satisfies its 1031 tax deferred exchange requirements. The price represents $173,913 Per Unit and $221 Per Square Foot. The actual residential income  averages $1,075+/- a month. Rents in the building are below market for the neighborhood presenting big upside potential for the new owner.   The building has 19 large one bedroom apartments and 4 two bedroom apartments. Large apartments are rare and valuable in the city and appreciate most quickly. The property is located at the heart of desirable Brighton Beach, Brooklyn and walking distance to the Atlantic Ocean’s beaches, the world famous Boardwalk and Coney Island’s attractions. Like all Brooklyn, the neighborhood is experiencing a real estate boom. ”The Borough has become the “darling” of New York City. In the past, New Yorkers came to Brooklyn because Manhattan was too expensive to afford, but now people come here as a principal destination,” said Andrew Lichtenstein. Additionally, the property is located in close proximity to the B and Q trains on Brighton Beach Avenue and shopping and restaurants. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com ### LichtensteinRE Sells a 23 Unit Apartment Building in Brighton Beach, Brooklyn for $4,000,000 LichtensteinRE

LichtensteinRE negotiates $7,700,000 sales contract for a package of 3 Apartment Buildings in The Bronx
Posted on Wednesday May 14, 2014

Riverdale, New York. (May 14 th, 2014) Andrew Lichtenstein, President of LichtensteinRE, negotiated the sales contract of a package of three multifamily properties in the Bronx for $7,700,000 cash. This portfolio consist of three walk up apartment buildings located at 1405 Rowland Street, 2220 Adams Place and 2327 Walton Place. The three properties are in excellent condition and beautifully maintained with lovely architectural ornate terracotta, tile, & marble detail. All three properties have new security systems. The buildings contain 60 large renovated apartments with a total of 197 rooms. They are comprised of 4 studio, 39 one bedroom, 13 two bedroom and 4 three bedroom apartments.  The properties have 53,423 total square feet plus 12,395 of unused developable square footage. The contract price represents $128,333 Per Unit, a $144 Per Square Foot and a Cap Rate of 7.3%.   The buildings are 100% rented averaging $1,273+/- a month.  “These large apartments are rented far below market value representing a huge upside potential for the future new owner to raise rents and his return on investment,” says Andrew Lichtenstein the exclusive listing broker. The first property located at 1405 Rowland Street in Westchester Village was built in 1927. It’s a 4 story excellent condition walk-up apartment building containing 27 large apartments in 22,560 square feet. The second property located at 2220 Adams Place in Belmont was built in 1931. It’s a 5 story walk-up apartment building containing 16 large apartments in 14,663 square feet. Belmont is also known as the famous “Little Italy of The Bronx”. Finally, the third property located at 2327 Walton Avenue in Fordham Heights was built in 1926.  It’s a 4 story walk-up excellent condition apartment building containing 17 large apartments in 16,200 square feet. Andrew Lichtenstein exclusively marketed this transaction and represented both seller and buyer. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, financing ability and exclusive connections with tens of thousands of potential buyers assures their selling clients the best possible price. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE negotiates $7,700,000 sales contract for a package of 3 Apartment Buildings in The Bronx LichtensteinRE

LichtensteinRE Retained as Exclusive Broker to Sell 42 Family 1068 Ocean View Avenue, Brighton Beach Brooklyn
Posted on Monday May 12, 2014

Riverdale, New York. (May 12, 2014)  LichtensteinRE has been retained on an exclusive basis to sell a 42 unit multifamily apartment building located at 1068 Ocean View Avenue on the Corner of Brighton 12th Street in the Brighton Beach section of Brooklyn. The asking price is $8,250,000. The property is a very desirable 100 foot by 100 foot corner property with numerous windows to maximize tenant exposure to light and sun. This 4 story, 42 one bedroom unit building, is in good condition and fully rented. The property, containing 126 rooms, has an average residential income of $1,250 a month leaving plenty of upside to a capable buyer. The boiler is brand new. The building is located on a nice, clean street, directly across from a school.  The property is a short walk from busy Brighton Beach Avenue’s shopping and popular Russian restaurants. Additionally, tenants have easy access to the beautiful Atlantic Ocean beach and world famous Boardwalk making high demand summertime rentals a rare commodity. The luxurious Oceania apartment complex is two blocks away.   Tenants are also a one block walk from Sheepshead Bay to enjoy fishing, boating activities and some of the best Oysters and Clams anywhere. Finally, the property is located near major streets like Coney Island and Brighton Beach Avenues and the Belt Parkway. The property is being marketed exclusively by Andrew Lichtenstein. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com LichtensteinRE Retained as Exclusive Broker to Sell 42 Family 1068 Ocean View Avenue, Brighton Beach Brooklyn LichtensteinRE

LichtensteinRE Exclusive Broker Retained to Sell Bay Ridge, Brooklyn 20 Family Property
Posted on Thursday May 08, 2014

Riverdale, New York. (May 7 th, 2014)  LichtensteinRE has been retained on an exclusive basis to sell a multifamily apartment building located at 194 Gelston Avenue between 92 nd and 94st streets in the Bay Ridge section of Brooklyn. The asking price is $3,850,000. The property is a 4 story walk up apartment building containing 20 large one and two bedroom prewar apartments with 75% of them recently renovated. 90% of the units are tenant occupied, with the other two apartments being used by the actual owner and the superintendent. Both of these apartments can be delivered vacant if a buyer requires it.  The actual residential income averages $1,272 a month which is below market for this neighborhood.   “Large apartments are rare and valuable in Brooklyn and appreciate more quickly,” said Andrew Lichtenstein. The building, built in 1928, is maintained spotlessly and is in mint condition by its owner of more than 40 years. The property has 16,000 usable square feet built 55 x 89 on a 55x 100 lot and is zoned R5B/BR. The building is located in Bay Ridge, Brooklyn in a quiet and beautiful block. At the same time, it is around the corner of the 5 th Avenue shopping district, the subway station serving the R train and the local public school. “The property is such a gem that we are already receiving excellent multiple offers right after starting our marketing campaign,” said Lichtenstein. The property is being marketed exclusively by Andrew Lichtenstein. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888 or AL@LichtensteinRE.com     LichtensteinRE Exclusive Broker Retained to Sell Bay Ridge, Brooklyn 20 Family Property LichtensteinRE

LichtensteinRE has been retained to sell The Sycamore Court, a Luxurious $50,000,000 Luxury Elevator Building in North West B
Posted on Tuesday May 06, 2014

Riverdale, New York. (May 5 th, 2014)  LichtensteinRE has been retained on an exclusive basis to sell a mixed used apartment building located at 3050 Corlear Avenue, Bronx. The seller’s asking price is firm at $50,000,000. The property, a seven story luxury doorman elevator building, was just built in 2009.  It has 89,600 total usable square feet and it is located at the corner of Corlear Avenue and West 231 st Street in the Kingsbridge/Riverdale area.  This building has 63 residential apartments consisting of 50,788 usable square feet containing 9 studios, 18 one bedrooms, 31 two bedrooms and 4 three bedrooms. 13 of which have usable exterior terraces The property has great amenities including 24 hour doorman, an exercise gym, a rooftop recreation sun deck and garden. Additionally, there are 4,402 square feet of street level retail space and 16,060 square feet of 2 nd and 3 rd floor medical office spaces. The commercial units include a radiology center equipped with X-ray, CAT scan, MRI and ultrasound services. There are also physical therapy, orthopedic and pediatric practices. Andrew Lichtenstein says, “Based on the packed waiting rooms, this location is quickly becoming known by surrounding communities to be the area’s newest and most sought after location for patients for its convenience, clean, spacious facilities and highest quality medical care.” Finally, there are 15,000 square feet of interior parking for 75 to 82 cars and onsite parking spaces for commercial tenants in the rear. “Developers used top of the line materials in these luxurious apartments. The building could be converted to condos in the future”, say Andrew Lichtenstein, the exclusive broker for this property. The building is next to public transportation, the subway station serving the 1 Train going to Manhattan and the busy Shopping Kingsbridge District on Broadway.  The Sycamore Court property is being marketed exclusively by Andrew Lichtenstein from LichtensteinRE. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at (800) 242-9888  or   AL@LichtensteinRE.com       LichtensteinRE has been retained to sell The Sycamore Court, a Luxurious $50,000,000 Luxury Elevator Building in North West B LichtensteinRE

LichtensteinRE has just Sold a 30 Unit Multifamily Building in The Bronx, New York for $3,850,000.
Posted on Tuesday May 06, 2014

Riverdale, New York. (May 6 th, 2014) Andrew Lichtenstein, President of LichtensteinRE, has just sold a 30 unit elevator multifamily property located at 2725 Creston Avenue in the Jerome Park Section of the North Bronx. The building was sold for $3,850,000 cash. The 6 story 22,840+/- square foot building is a clean white ceramic brick construction built on 1965. The sale price represents a cost of $192,500 per apartment, $168 per square foot and 10.8 times the annual rent.   The annual net Income of the property is approximately $193,000 making it a 5.3% cap rate. Additionally, it is 100% rented on with average rent of $936 a month leaving the buyer plenty of upside to increase its future net profit. It has 12 studio, 18 one bedroom and 2 medical offices on the ground floor delivered vacant. “The building is in immaculate condition because the prior owners, who bought the property in 1978, personally cleaned and maintained the premises,” explains Andrew Lichtenstein, the exclusive listing broker. The property is conveniently located right off the B and D trains in Grand Concourse and less than two blocks away from the 4 Train on Jerome Avenue. The Building is also a walkable distance to two of the Bronx’s most important educational institutions:   Lehman College and The Bronx High School of Science. It is very accessible to shopping and major roadways. “This property represents a great future investment for the new owners. This clean elevator property can attract tenants who wish to enjoy an easy commute to Manhattan and send the kids to the great educational institutions close by,” says Andrew Lichtenstein. Andrew Lichtenstein of LichtensteinRE represented the seller and Sion Misrahi of Mizrahi Realty represented the buyer. About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE has just Sold a 30 Unit Multifamily Building in The Bronx, New York for $3,850,000. LichtensteinRE

LichtensteinRE negotiates another sales contract. 23 Unit Apartment Building in Brighton Beach, Brooklyn in Contract for $4,0
Posted on Tuesday April 01, 2014

Riverdale, New York. (March 31, 2014) Andrew Lichtenstein, President of LichtensteinRE, negotiated the sales contract of 129 Ocean View Avenue, Brighton Beach section of Brooklyn for $4,000,000 cash. The price and “as is, unconditional” sales terms of the contract satisfy the long term seller’s requirements. The property is a 4 story walk up apartment building containing 23 large prewar apartments located at 129 Ocean View Avenue, on the corner of Ocean View and Brighton 1 st Street. It was built in 1926 and maintained in perfect condition. The buyer is happy to get the opportunity to own a property in such a desirable location. He was able to move quickly with his offer, leaving other bidders disappointed. The buyer’s purchase satisfies its 1031 tax deferred exchange requirements. The price offered represents $173,913 Per Unit and $221 Per Square Foot. The actual residential income is averages $1,075+/- a month. Rents in the building are below market for the neighborhood presenting big upside potential for the buyer.   The building has 19 large one bedroom apartments and 4 two bedroom apartments. Large apartments are rare and valuable in the city and appreciate most quickly.  The building is located at the heart of desirable Brighton Beach, Brooklyn close walking distance to the Atlantic Ocean’s sandy beaches, the world famous Boardwalk and Coney Island’s attractions. Like all Brooklyn, the neighborhood is experiencing a real estate boom. ”The Borough has become the “darling” of New York City. In the past, New Yorkers came to Brooklyn because Manhattan was too expensive to afford, but now people come here as a principal destination,” said Andrew Lichtenstein. The property is located in close proximity to the B and Q trains on Brighton Beach Avenue and shopping and restaurants. LichtensteinRE has been actively selling multifamily property for its clients in and around New York City.   About LichtensteinRE LichtensteinRE specializes in the exclusive sales of multifamily and mixed use commercial real estate properties in New York City’s 5 boroughs. LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. LichtensteinRE’s proven experience, track record, financing ability, exclusive buyers and connections with tens of thousands of property owners assures their selling clients the best possible price when a landlord owner wants to sell their property. DoctorMortgage, which is LichtensteinRE’s financing division, has been a leader in commercial real estate mortgage debt financing since 1991. DoctorMortgage is able to negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE’s greatest ability is creativity and problem solving. After selling the owner’s property, LichtensteinRE has assisted successful sellers in locating replacement 1031 tax deferred exchanges and in some cases has more than doubled the seller’s net income post-closing. To learn more contact Andrew Lichtenstein at AL@LichtensteinRE.com LichtensteinRE negotiates another sales contract. 23 Unit Apartment Building in Brighton Beach, Brooklyn in Contract for $4,0 LichtensteinRE

LichtensteinRE has just Sold a 56 Apartment Complex in Haverstraw, New York for $6,000,000
Posted on Wednesday March 19, 2014

Riverdale, New York. Andrew Lichtenstein, President of LichtensteinRE, has just sold a 5 building multifamily garden apartment complex located at 119-143 Maple Avenue and 130-130A West Street in Haverstraw, for $6,000,000 all cash containing 56 residential apartments. The two story 19,800 square foot complex is built on two acres of land on four contiguous property lots, directly opposite the Hudson River waterfront.  20% of the units have bucolic water views. The property, built in 1970, is well maintained and 100% rented. The sale price represents a price of $303 per square foot and $107,142 per unit.  Andrew Lichtenstein also arranged pre-approved financing for the buyer. The net Income of the property is $353,924, well below the rental market. The new owner will have the opportunity to increase the rents to raise the net Income to $547,674.  Should the buyer wish to take advantage of maximum potential of the property, the town has green lighted the complex to be expanded by an additional 50 apartments to a total of up to 106 apartments for a total of up to 67,426 total developable buildable square feet upon completion.  The property is next door of “The Harbors at Haverstraw,” a luxurious Hudson riverfront community consisting of more than 100 rental and privately owned condominiums. The neighboring upscale development provides high end rental comparable rents evidencing the property’s future upside potential income. Additionally, the property is right across from the NY Waterway commuter ferry that connects the town to New York City. Haverstraw is a town in Rockland County, on the Western border of the Hudson River. “The buyer resides in the town of Monsey, conveniently located a few miles away of the property. He is in close proximity to his new purchase making management and ownership easy for him”, said Andrew Lichtenstein the Seller’s Exclusive Sales Broker for the property. Haverstraw Village is in the process of gentrification attracting former New York City residents. They come to the town because of its vast Hudson River shoreline, suburban life, natural amenities and easy commute to Grand Central Terminal.    About LichtensteinRE LichtensteinRE is a full service Commercial Real Estate Sales, Financing and Advisory Service Boutique based in New York City, the financial capital of the world. Our proven experience, financing ability, exclusive buyers and contact will get you the best possible price when you sell your property. Doctormortgage, our financing division and leader in Commercial Debt Financing will negotiate and facilitate financing to deliver the best price, leverage and return on investment possible. LichtensteinRE greatest ability is creativity and problem solving. After selling your property, we will negotiate and guide you through a 1031 exchange. We will help you achieve your goals to SELL and BUY again. Andrew Lichtenstein can be contacted at either Al@LichtensteinRE or 800-242-9888.   LichtensteinRE has just Sold a 56 Apartment Complex in Haverstraw, New York for $6,000,000 LichtensteinRE