By Al Barbarino 4/09 8:00am

Sales Beat

Tilden Hall

Besen & Associates Arranges $23 M. Sale of Tilden Hall in East Flatbush, Brooklyn

Besen & Associates has arranged the $22.9 million sale of a nine-story, 86,360-square-foot city-run transitional housing facility for homeless families at 2520 Tilden Avenue in East Flatbush, Brooklyn.

Known as Tilden Hall, the nine-story residential building one block east of Bedford Avenue features 117 apartments and rests in a neighborhood characterized by row houses, cottage homes and an array of mom and pop stores.

It is leased to Highland Park Development, which signs bi-yearly service agreements with the city and its Department of Homeless Services to provide transitional housing, counseling and rehabilitation programs for families in need, which made the transaction stickier than your average multifamily deal, but also more promising for the buyer, United Realty Trust.

“The due diligence was more complex than your standard multifamily transaction,” said Greg Corbin of Besen & Associates, who arranged both sides of the transaction with business partner Amit Doshi.  “United Realty Partners acquired great bricks with an outstanding cap rate.” Read More

By Karsten Strauss 1/10 1:09pm

Sales Beat

2410-2418 Broadway, aka 214-218 West 89th Street

New Year’s Eve Sale: Gilar Group Acquires 2410-2418 Broadway for $47 Million

Albert and Robert Gilardian, of The Gilar Group, acquired 2410-2418 Broadway for $47 million. The transaction closed prior to the New Year and the seller, M.E. & A Realty Co., was motivated in part by concerns over the looming hikes in capital gains taxes and fiscal cliff concerns, according to a release prepared by Eastern Consolidated, which represented the seller in collaboration with Besen & Associates.  Read More

By Daniel Edward Rosen 6/19/12 8:30am

Sales Beat

172-174 Montague Street

172-174 Montague Street Sells for $12 Million

A 2-story retail property in Brooklyn Heights netted $12 million in a recent sale, it was announced Monday.

The 8,150-square-foot property on 172-174 Montague Street, which hosts a Hallmark Store and Eamonn’s Restaurant, was sold by a private investor who had recently relocated from Brooklyn to Arizona. The identity of the buyer, a developer, was not immediately disclosed.

Eamonn’s was scheduled to close on June 17, according to the Brooklyn Daily Eagle. 

Lynda Blumberg and David Davidson, both of Besen & Associates, handled the sale of the property.
The building is situated in the C5-2/DB zoning designation, which offers air rights of up to 60,000 square feet. Read More