Arrow Linen Supply Sells Stalled Park Slope Development Site for $55M
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
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Arrow Linen Supply Company , a family-owned laundry rental business, has sold its recently rezoned property in Park Slope, Brooklyn, to a developer. The former industrial site at 441–467 Prospect Avenue sold Monday to…
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