Valued at $22M, bought for $35M: How much is a distressed office worth?

20 September 2024

The ongoing saga of 16 East 40th Street, a modest, century-old office building in Midtown Manhattan, sheds light on the uncertainties surrounding the valuation of distressed office assets in today’s market. The building, co-owned by Albert Monasebian and Nader Hakakian, […]

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Brooklyn poised to outpace Manhattan in new development sales

13 September 2024

Brooklyn is gaining momentum in the new development market, with August showing a significant uptick in contracts, while Manhattan remains steady and the luxury market struggles, according to Marketproof’s monthly report. In August, 246 contracts were signed citywide, slightly up […]

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Vanbarton unloads FiDi building seized from failed Crowdfunder

2 August 2024

A property in the Financial District that was once part of Prodigy Network’s crowdfunded portfolio has recently been sold for $64.5 million. The building, located at 17 John Street, was purchased by a LLC linked to Housing Solutions, a firm […]

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