The State of Affairs for Long Island Commercial Real Estate
It’s crucial we understand how each real estate sector was, and continues to be, affected by COVID-19. Let’s take a detailed look.
Franklin Square retail strip sells for $1.15M – LIBN
March 30, 2021 A retail property in Franklin Square has sold for $1.15 million. Tariq Khan, a Long Island-based real estate investor, purchased the 6,619-square-foot retail building on .27 acres at 167-179 Franklin Ave. The sale price equates to $173.74 per square foot and a 7.91 percent capitalization rate. Read The Fully Story [...]
The office is no longer the center of business – by Ron Koenigsberg
March 02, 2021 The first thing that comes to mind when you think of a place of business, you might think of an array of cubicles in an office building, or a large conference table where team members discuss their strategies. But the unprecedented times that we are living in right now have proven that [...]
American Investment Properties sells Williston Park prop. for $725,000
March 02, 2021 According to Ron Koenigsberg, CCIM, president and founder of American Investment Properties, the firm has completed the sale of 192 Hillside Ave. The sale price was $725,000. The vacant property was the former home of Douglas Elliman Real Estate, and was sold to an undisclosed buyer who owns a logistics company. Read [...]
Office Apocalypse? A Look Into The State of The Office Market
Real estate professionals discuss the current state of the office sector and their predictions for the future. Read more today.
Office apocalypse? – Long Island Business News
February 19th, 2021 “Office vacancy rates were already rising in 2019 pre-pandemic, as demand for suburban office space declined,” Koenigsberg said. “Working from home was a trend that was growing before the pandemic. The office is not the center of business anymore.” Read The Full Story
The state of retail real estate NOW! – by Ron Koenigsberg
February 02, 2021 Retail has been hit in all directions, the Internet has hurt retailers as more and more money is being spent online vs. brick and mortar stores. Retailers responded beautifully, quickly and aggressively into experience retail (experiential real estate). Pre-pandemic retailers determined to get customers back into stores they needed to provide unique [...]
Retail Real Estate Resets Amid Rising Vacancies and Falling Revenue
Traditionally the most expensive on a per-square-foot basis, values of some retail properties are dropping precipitously, damaged by...
Retail real estate resets amid rising vacancies and falling revenue
January 25th, 2021 Long the darling of commercial real estate on Long Island, the retail sector finds itself at a crossroads. Traditionally the most expensive on a per-square-foot basis, values of some retail properties are dropping precipitously, damaged by shuttered businesses sickened by the nearly year-long pandemic that’s put a big hurt on the economy. [...]
This week’s LIBN/NOW topic: Retail real estate
January 14, 2021 This week’s episode of LIBN/NOW focused on the state of retail real estate on Long Island. Moderated by LIBN real estate reporter David Winzelberg, our guests were Larry Weinberger, principal of Bellmore-based MGD Investments, and Ron Koenigsberg, owner/broker of American Investment Properties, headquartered in Garden City. Read The Full Story Here [...]