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05/21 2015
Letter of Intent – Brooklyn’s Continued Development Boom

Brooklyn’s total new development sponsor sales in the first quarter of 2015 grew 95% from fourth quarter 2014 and the median sales price jumped an astounding 28%, while the median price per s/f slowed down a bit and pulled back just over 5%. The flourishing neighborhoods of Clinton Hill, led by sales at 260 Greene,

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12/29 2014
Letter of Intent – Retail, Retail, Retail

The retail investment sector is ready to burst, and investment sales brokers agree that there has been a clear rise in requests for suitable retail investment properties. One major driving force behind retail acquisition is the re-born availability to finance large acquisitions of not only single properties but large portfolios of retail-heavy assets. Banks are

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09/10 2014
Executive of the Month: Joe Berko

Executive of the Month: Berko, president of Berko & Associates: Bringing an investment-banking approach to commercial real estate; growing firm includes city’s top mortgage bankers, investment sales professionals and advisors. New York, NY As an Israeli youngster visiting relatives in the United States, (Yossi) Berko knew he would be a real New Yorker someday. Today,

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09/05 2014
Lower yields draw New York developers to Israeli bonds

In their hunt for cheap financing, New York developers are increasingly turning to the Israeli bond market. Last week, the Tel Aviv daily Haaretz reported that the Witkoff Group and the Lightstone Group are considering selling bonds in Israel for 500 million Shekels, or $141.6 million, each. They would follow in the footsteps of Extell,

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03/05 2010
Blatt Billiards’ Union Square Building Trades at $24,000,000

Pool table manufacturer Blatt Billiards has sold its six-story building at 809 Broadway, according to property records. The buyer, a syndicate of Israeli investors using the name 809 Broadway Holding LLC, paid $24 million for the building, which is between 11th and 12th Streets. The deal closed on February 13 and was recorded with the

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02/14 2000
Berko and Korine Finance $27,000,000 for Paper Factory Hotel

Long Island City, NY Joe Berko and Michael Korine of Berko & Associates along with Madison Realty Capital (MRC) completed a $27 million first mortgage loan to recapitalize on the Paper Factory Hotel at 37-06 36th St., which will open later this month. The borrower purchased the six-story 103,000 s/f warehouse in 2012 and turned

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02/07 1960
Mann Report – Berko Closes LIC Paper Factory Hotel Financing

Joe Berko and Michael Korine of Berko & Associates recently completed a $27 million first mortgage loan to recapitalize on the Paper Factory Hotel al 37-06 36th Street in Long Island City, The borrower purchased the six-story 103,000-square-foot Long Island City warehouse in 2012 and turned the former paper factory and industrial property into a

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07/20 2018
Are Retail’s Biggest Lenders Too Exposed?

After a run-up in pricing that even some of the industry’s most bullish observers find head spinning, Manhattan’s luxury retail market is starting to show cracks, and that could put its most active lenders on the line. Big banks such as Wells Fargo, Bank of America, Deutsche Bank and France’s Crédit Agricole, as well as

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02/14 2013
BERKO CLOSES $4.73M BRONX DEAL

Berko & Associates announced the sale of Jerome Avenue retail strip in the Bronx for $4,735,000. Emily Lau of Berko & Associates negotiated the all cash sale of the multi-tenant strip anchored by Chase Bank, on Jerome Avenue in the Bronx. The buyer is a retail property owner who owns similar properties in the area.

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02/14 2013
Q & A with newest member of New York State Real Estate Board, Joe Berko

On July 1, Joe Berko, the president of the commercial real estate firm Berko & Associates, became the newest member of the New York State Real Estate Board, the agency that issues broker licenses, through an appointment by Gov. David Paterson. Not to be confused (as is often the case) with the similarly named Real

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