Research & Insights

Block by Block: 4Q21

For the first time since the pandemic began, broker optimism about an investment sales market recovery in New York City began to materialize during the fourth quarter. As a result, the pace of transactions in the fourth quarter of 2021 accelerated to pre-pandemic levels, including a surge of larger deals in Manhattan that produced the […]

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Quarterly Reports

Block by Block: 4Q21

For the first time since the pandemic began, broker optimism about an investment sales market recovery in New York City began to materialize during the fourth quarter. As a result, the pace of transactions in the fourth quarter of 2021 accelerated to pre-pandemic levels, including a surge of larger deals in Manhattan that produced the […]

Block by Block: 3Q21

The New York City investment sales market continues to climb out of the COVID-induced commercial property market recession. While there is a tangible sense of optimism and markets are beginning to return to long-term averages, the recovery seems to remain constrained by externalities impacting the market.

Block by Block: 1H21

A sense of optimism and excitement is being felt in the investment sales property market following the easing of COVID restrictions and the reopening of many businesses in New York City.

While the transactional numbers have yet to fully demonstrate that optimism, there are promising signs indicating that the second half of the year should return to the transactional averages of 2018.

1Q21 Report Cover

Block by Block: 1Q21

The New York City investment sales market started the new year with the same muted market-wide performance that it ended with in 2020. While the first quarter’s results left much to be desired, we remain confident that the second half of 2021 will see a return to the long-term transactional averages as the vaccine rollout continues its momentum and businesses and people alike begin to return to the city.

2020 Market Update & 2021 Predictions

2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.

Block by Block: 1H20

After a challenging year in 2019, 2020 started off in positive fashion with the first quarter showing promising returns in both dollar volume and transactions. The market finally began to show signs of life following the rent regulation changes in June 2019 as dollar volume and transactions appeared to be trending back towards long-term averages.

Block by Block: 4Q19

2019 was a tumultuous year for the New York City investment sales market. There was Amazon’s derailed plan for its HQ2 in Long Island City, along with sweeping rent reform legislation from the state government.

Even with external factors potentially wreaking havoc, the investment sales market finished 2019 with a total dollar consideration of just under $34B — a decline of 7% from 2018 but a slight increase (+2%) from two years ago.

Block by Block: 3Q19

As the new reality of stricter rent regulations becomes clear, the investment sales market in New York City continues to underperform its historical trend. That’s pushed the trajectory of industrial and retail in very different directions.

Block by Block: 1H19

The investment sales market in New York City continued its sluggish performance through the second quarter of 2019. But even in this environment, opportunity still exists in certain pockets of the city. So B6 tapped three of its brokers to find out where they see potential upside in their neighborhoods.

Block by Block: 1Q19

The investment sales market in 2019 got off to a slow start amid uncertainty in the broader economy and speculation about major rent reforms this summer. But even amid a market slowdown, development is continuing thrive.

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Insights

2020 Market Update & 2021 Predictions

2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.

B6’s 2020 Predictions Report

Last year was a tumultuous one for the investment sales market in New York City. New rent regulation put a damper investors’ appetites after the state’s legislation passed in June. Even amid a roaring economy, 2H19 was a sluggish one.

As we head into 2020, there’s cautious optimism around the B6 offices. We surveyed our investment sales and capital advisory teams to gauge opinions on where the market is headed. Here’s what we found.

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Recent News

BronxNet: Open BX RX Interview

BronxNet
April 13, 2022

OPEN Host Daren Jaime speaks with Mitchel Flaherty, Director at B6 Real Estate Advisors, to discuss industry insights and Bronx developments.

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Deals of the Day: April 13 – 760 DeKalb

Crains
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Yeshiva picks up Bed-Stuy building. Brokers: DJ Johnston, William Cheng, Michael Murphy and Ben Rechler of B6 Real Estate.

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B6 Hires Mark Lively

Real Estate Alert
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New-York based brokerage firm has added Mark Lively as a Managing Director reporting to Chief Revenue Officer Cory Rosenthal.

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Lack of clarity around 421-a could delay further Mott Haven development, broker says

New York Business Journal
April 7, 2022

Mitchel Flaherty, a broker for B6 Real Estate, is expecting tough times ahead as the 421-a tax abatement is set to expire on June 15 without an immediate replacement in sight. “Fewer properties are going to be trading hands as developers try to figure out their next steps,” Flaherty told the New York Business Journal. […]

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Reshaping Brooklyn: The Gowanus Rezoning

Multi-Housing News
March 31, 2022

Experts size up the impact on New York City’s most populous borough. Late last year, the New York City Council approved the Gowanus Neighborhood Plan, the largest rezoning falling under former Mayor Bill de Blasio’s administration. Roughly 700,000 square feet of office space is slated to come online in the market, Bobby Lawrence, director of […]

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B6 Real Estate Advisors Hires Cory Rosenthal as Chief Revenue Officer

Real Estate Weekly
March 29, 2022

B6 Real Estate Advisors (B6), an investment sales and capital advisory firm led by industry veteran Paul J. Massey Jr., has announced the appointment of Cory Rosenthal as Chief Revenue Officer.

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College Point office and industrial building on sale for $22.8 million

QNS
March 25, 2022

A multimillion-dollar, four-story office building just hit the market in College Point. New York-based real estate company B6 Real Estate Advisors announced that 129-09 26th Ave. is currently on sale for $22.8 million. The 63,260 square foot building includes 44,095 square feet of office space and 19,165 square feet of industrial space according to the […]

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Mixed-Use Building in Queens, N.Y., for Sale; $22.8Mln Asking Price

Commercial Real Estate Direct
March 25, 2022

Prestige Property New York is offering for sale the 63,260-square-foot office/industrial building at 129-09 26th Ave. in the College Point section of Queens, N.Y. The company has hired B6 Real Estate Advisors of New York to market the property for sale. It’s asking $22.8 million.

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One of NYC’s last developable waterfront communities, investment in Mott Haven continues

Bronx Times
March 24, 2022

Director of B6 Real Estate Advisors Mitchel Flaherty, one of the most active brokers in the Bronx real estate who has a $10.9 million listing at 338-344 Grand Concourse, said that investment in Mott Haven is becoming a goldmine opportunity for new affordable housing ventures.

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Deals of the Day: March 23 – 129-09 26th Ave., Queens

Crain's New York Business
March 23, 2022

College Point office building asks $23 million. Thomas Donovan, Andy Chen, Robert Rappa, and Tommy Lin of B6 Real Estate are representing the seller.

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Gilda’s Club former West Village digs list for $12.5 million

New York Post
March 22, 2022

A stunning West Village boutique building — the former home of Gilda’s Club NYC — is on the market for $12.5 million, and ready for prime-time transformation into a single-family mansion.  The four-story, 11,332-square-foot property is at 195 W. Houston St. (outside of the historic district) and can be delivered vacant, say listing brokers Brock […]

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B6 Real Estate Advisors Appoints Cory Rosenthal Chief Revenue Officer Role

Commercial Observer
March 19, 2022

B6 Real Estate Advisors announced the appointment of Cory Rosenthal as the investment sales and capital advisory firm’s first chief revenue officer, Commercial Observer has learned.

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