Jon Brooks: Commercial Real Estate Agent, Brooklyn

Who is responsible?

In commercial leasing, many tenants are married for better or for worse to their landlord for many years. And throughout the years I can guarantee something out of the ordinary will happen. I can also make a guarantee that it will put you at odds with you landlord.

Example

Access is lost because the road serving the property (call it a shopping center) is temporarily or permanently closed by the government

A nearby bridge leading to the shopping center is closed and the alternative access route is undesirable to customers

A fuel delivery truck spills its load when parked on the shopping center so that its driver could run across the street (meaning that the driver wasn’t using or serving the shopping center)

The entire area is closed for a week as a crime scene

The arena across the street from the shopping center has been closed and the businesses at the shopping center relied on business from the arena

Power from the utility company directly to the tenant is interrupted

Power from the utility company directly to the landlord is interrupted and the tenant gets its power through a submeter

The shopping center is closed by reason of flood, famine, locusts, etc.

Cue, the lawyer.

Real Ira Meislik discusses these potential pitfalls in his real estate blog.

http://www.retailrealestatelaw.com/archives/1791

Disclaimer: Not all information above may be accurate. The advise given at the mentioned link might not be accurate. Please before you use any advise in this post or any other post in this blog, consult with a real estate professional and/or attorney.

04/28/13

Helpful! Brooklyn Neighborhood Map.

Even as a experienced commercial agent I find these neighborhood lines confusing. Am I in Carroll Gardens or Gowanus? Bushwick or Williamsburg? Crown Heights or Prospect Heights? This map will help shed some light!

04/27/13

ATTENTION NYC BUSINESSES: NYC is giving away free money and it’s easy to see if it is waiting for you!

Let’s face it running a business in the city can be brutal. Businesses have to dodge a minefield of regulations, high rents, taxes, disasters , and most of all a vulnerable economy.

There is a small consolation. New York City and the NY State do provide economic incentives which can be especially helpful to Brooklyn businesses.looking for real estate.

But finding these incentives was mission impossible….until now.

Click here —-> NYC QUICK INCENTIVES ANALYZER

This quick online questionnaire points you in the right direction by analyzing your business and displaying your possible incentives.

I tried it. I answered the questions as a business moving from Manhattan to Brooklyn looking for manufacturing space. Here is what popped up.

Not bad, huh? Computerize bureaucracy isn’t so bad!

If you are eligible for any incentives that involves leasing, purchasing, or selling property in Brooklyn or Queens, drop me a line and I’ll point you in the right direction.

Email
Jon Brooks at

JB@5CRE.COM

I specialize in the leasing/selling of commercial spaces 1000SF TO 100,000SF . I can find the perfect warehouse to fit your business.

Follow me on Twitter for instant up to date information on properties and real estate information

Listed subject to errors, omissions, change of price, or other conditions, prior sale, rent , and withdrawal without notice.

02/1/13

The Most Expensive Blocks in Brooklyn - PropertyShark Real Estate Blog

The Most Expensive Blocks in Brooklyn

No CommentsBy Catalin on March 21st, 2012

Map of the most expensive blocks in Brooklyn

It’s time for our third and final post covering the most expensive blocks in New York City, and this time we analyze Brooklyn. If you haven’t read the first two entries (covering the most expensive blocks in Queens and over NYC as a whole), you can do it here and here.

If you look at the map of the priciest blocks in Brooklyn, you may notice that Park Slope has 3 blocks in the top 10, followed by Cobble Hill with 2. Midwood, Brooklyn Heights, Carroll Gardens, Manhattan Beach and Homecrest are represented in the top 10 by one block each.

The priciest block in Brooklyn is in Midwood, delimited by Avenue I and Avenue J / Ocean Parkway and East 7th Street, with a median sale price of $4,350,000. The biggest sale here was the single-family home on 935 Ocean Parkway. It sold on November 11th, 2010 for $6,130,000. Less than one year later, on September 20th, 2011, it exchanged hands again, for a slightly smaller amount of $6,000,000.

The second priciest block is in Brooklyn Heights, delimited by Joralemon Street and State Street / Willow Place and Hicks Street, which had a median sale price of $3,125,000. A similar thing happened with the most expensive property here as with the one at 935 Ocean Parkway. Namely, the single-family home at 33 Willow Place exchanged hands twice, the first time on August 13th, 2010, for $3,600,000 and the second time on June 28th, 2011 for $3,920,000.

The block that completes the top 3 is in Park Slope, delimited by 2nd Street and 3rd Street / 8th Avenue and Prospect Park West. There were 6 properties sold here, with a median price of $2,818,775. Here’s the complete top 10 of the priciest blocks in Brooklyn:

12/8/12

A Discussion on Seller Financing

What do you do if you own a property free and clear that someone wants to buy, but they can only put cash down for 30% of the property’s value? Before the credit crisis, the answer was easy. They buyer puts down 30% and finances the rest. In the absence of traditional sources of financing, the above question is being asked for every deal, and the answer can be a real problem that often kills deals. But there are still some deals that make sense—in particular sales/purchases of low or no leveraged real estate. In this narrow context, the viability of the transaction will depend on not whether financing is available but, rather, whether the buyer has a sufficient cash deposit (which will typically be in the area of 20% to 40% of the purchase price) to permit the seller to satisfy its existing obligations (including any tax exposure upon the sale).

Preparation Guide for Leasing Commercial Property

If you are looking to lease a warehouse, loft space, offices, or retail property, you should be well prepared. Commercial Real Estate inventory in Brooklyn and the other boroughs in NYC is low and it’s competitive. I prepared this guide to assist you on making your big move.

Purchasing and Lenders: The differences between receiving Preapproval and being Prequalified.

If you are looking to buy Industrial or Commercial Real Estate it’s important to identify how you are financing purchasing deal. While this seems obvious, often times I see buyers identify their type of financing to me but don’t prepare themselves to show proof of their ability finance a deal. This can erode a seller’s confidence in you as a buyer and reduce your chances of doing a deal.

The NY Times provides a nice breakdown on the difference between being PREQUALIFIED and recieving PREAPPROVAL when looking to recieve institutional financing on purchase of property. Understanding this key difference strengthens your negotiation position. It is highly recommended that you recieve preapproval from your lender because the lender requires you to disclose your financials for their review. While a lender’s preapproval letter does not guaranty 100% that the you will actually receive financing that matches the preapproval, but it’s enough to gain a seller’s confidence in you.

Getting Prequalified by your lender does not usually require to show the lender hard proof of your finances.. Sellers doesn’t recognize being PREQUALIFIED as proof that you are a serious buyer.

If you are currently looking for space in the 5 boroughs you can always call me for advise, call Jon Brooks, agent at 5CRE 212-366-0407, email me at jb@5cre.com..

Disclaimer: Not all information above may be accurate. Please before you use any advise in this post or any other post in this blog, consult with a real estate professional and/or attorney.

06/10/12

Great Article in Sonic Scoop about the Sunset Park Music District Project!

Sonciscoop did an amazing job talking about the great opportunity in the Sunset Park Music District. Check out the article

05/30/12

The cost of an office buildout

05/28/12