A reigning CoStar Power Broker of the Year award winner, Joe Berko’s an up-and-comer in New York’s investment sales circuit. Despite setting a personal best with a $182M deal lat year, Joe’s biggest play has been his foray into Israeli bonds, a popular source of capital for New York’s biggest players. By partnering with two
A decline in CMBS markets have led to new ways of raising capital for US real estate players — and opening doors of opportunity for new waves of capital. The EB-5 visa program has been a popular source of capital but concerns of fraud have put the program under a microscope and could end this
Since the 2008 crash, domestic capital has been scarce, sitting at just $3 billion in 2009 after hitting a whopping $230 billion in 2007. Naturally, EB-5, an investment program allowing foreigners to essentially buy green cards in exchange for a $500,000 investment, along with the creation of 10 U.S. jobs, became a goldmine for real
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.
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
Berko & Associates announced the sale of two non-performing, first position mortgage notes for an aggregate amount of $4,085,000 dollars. The notes are secured by mixed-use apartment buildings in Manhattan and Brooklyn. Senior Analyst, Agnes Czajkowski; Senior Associate Itai Nave and Associate Brokers Angel Ramos and Jack Koppel facilitated the transaction. Banks are seeing Berko
Angel Ramos and Steve Geller both senior associates of Berko & Associates represented the buyer and the seller in the sale of 2194 3rd Avenue in the East Harlem section of New York City between 118th Street and 119th Streets. The seller, who bought the building in the early 80s delivered the property nearly vacant
In an all cash transaction Joe Berko and Angel Ramos of Berko & Associates represented both the buyer and the seller in the acquisition of two mixed use buildings for $1.5 million. Located on the South East corner of 120th Street and Second Avenue in the East Harlem Section of New York City, the buildings
According to Berko & Associates, Michael Korine, a former senior corporate and investment banker at RBC Financial Group and real estate entrepreneur, has been named managing director, finance & capital markets. Korine will head Berko & Associates’ commercial real estate finance division and will focus on expanding the firm’s capital markets activities to include advisory
Alan Simonowitz, a director at Berko & Associates has arranged for a $4.15 million in construction financing for a ground up development of a 6-story mixed-use building in the Astoria neighborhood. The building, located at 2751-53 Crescent St., will contain 25,880 s/f and be made up of 16 rental apartment units and four medical office
Korine, Managing Director, Finance & Capital Markets, at Berko & Associates has arranged for a $2 million refinance with a very competitive rate for a mixed-use building in the fast-growing Greenpoint section of Brooklyn. The financing was challenging due to the composition of the property, which included a Retail Space on the Ground Floor, office
Berko & Associates Capital Markets team announces the successful completion of a $12.5 million construction financing. The loan secured by an eight story 116,000 square feet state of the art building located at 198 Varet Street in the Williamsburg section of Brooklyn, NY. The property is constructed with an efficient immense 15,000 sf floor plates.
Joe Berko and Steve Geller of Berko & Associates (B&A) negotiated the sale of 29 West 35th St, a 12 story office building for $30 million. The building’s above grade total 71,180 SF, with 6,500 rentable SF per floor was delivered 75% vacant. B&A agents solely represented the seller and the buyer. Joe Berko, principal
Berko & Associates has successfully advised its clients on the acquisition of a newly constructed Class “A” Office building in Stafford County, Virginia. The property, commonly known as the Quantico Corporate Center (QCCS), has a gross square footage of 141,000 and is 100% occupied on long term leases, the majority of which are signed by