Written by Eric Kaufman | 
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7/11/2009
As of this writing, we are in the middle of summer and things are generally quiet in the commercial and residential real estate markets even in the best of times. And, I am sure that everyone agrees that this is not the best of times. In terms of transaction volume, there is an eerie void between what buyers are willing to bid and what sellers are asking. This void or gap has made for a very difficult transaction completion environment unless there is favorable debt on a property (either already existing financing or through seller or purchase money financing).
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Asbury Park, NJ, July 21, 2009:Symphony Property Auctions has completed the sale of 700 Cookman Avenue in Asbury Park, NJ. The property previously housed the “UPSTAGE CLUB” |
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Three years ago there were three firms that specialized in Regional Mall property management, sadly there is only ONE left today. Owners, Lenders, Servicers have no choice but to hire the only firm left standing. We should know as we were clients. As clients we found that this large corporate machine could not focus on our project and dedicate the resources and human capital necessary to successfully develop a viable strategy. These additional services were offered; however, the costs were prohibitive and the timing was unacceptable. |
