Airbnb rentals have reduced the supply of housing in New York City so sharply in the last three years that rents have risen sharply as a result, according to "The High Cost of Short-Term Rentals in New York City," a report from the Urban Politics and Governance research group School of Urban Planning McGill University

October 3, 2019 Comments (0) Views: 234 New York News, Outer Boroughs New York

JLL Markets Two-Phased Development Site in North Williamsburg

JLL Capital Markets has been selected to market 67 Kent Ave. in Brooklyn’s North Williamsburg neighborhood. The property footprint comprises six separate lots, totaling 72,535 square feet, that take up nearly a full city block and includes 1,125 square feet of wraparound, high-visibility frontage.

The JLL team includes Brendan Maddigan, Stephen Palmese, Ethan Stanton, Winfield Clifford and Michael Mazzara. An asking price for the entire assemblage wasn’t disclosed.

“67 Kent is unique because there are two attractive development components intertwined into one overall business plan,” said Stanton. “The two different phases will produce significantly higher returns for the developer because of the yield created in the first two years of the project. Ownership will consider offers on the entire assemblage, as well as on individual lots.”

The assemblage comprises approximately 184,281 square feet of interconnected factory buildings, along with a freestanding apartment building and a vacant lot.

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