Real Estate Journal — The Best of 2014 — March 27 - April 9, 2015 — 29C
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M id A tlantic
The BEST NEW CATEGORIES of 2014
Hinerfeld Comm’l Real Estate Largest Comm’l Property Sale Scranton, PA
Case Real Estate Top Comm’l RE Investment Co. PA/MD/Washington, DC
Novus Equities, LLC Best Historic Preservation Paterson, NJ
Category: Largest Commercial Property Sale Size: 108,000 s/f, 14 Acres Hinerfeld Commercial RE was engaged to sell a 100 year old building. In 2008, the owners were ready to put the property on the market. They engaged HCRE to market the property; by then they had demolished parts of the old plant, put a new façade and landscaped the area. The property had an entirely new look. There was a one story retail section attached to a four story build- ing with a 2008 façade but 1900 interior structure and a 1960s one story industrial warehouse of 29,000 s/f all attached as one building totaling over 108,000 s/f. Because of changes in the neighborhood, we deter- mined that the highest and best use was not manu- facturing but possibly institutional or residential. Two years ago 3 acres of the original 14 acre site was sold and now is a fully leased 122 unit apartment complex.
Sandy Herrick
Category: Top Commercial Real Estate Investment Company Established in early 2013, Case Real Estate Capi- tal, LLC is active as both a high-yield private lender and purchaser of sub- and non-performing debt and transitional properties. The firm closed on $40 mil- lion of transactions in 2014, and under the direction of Sandy Herrick, founder and managing principal, the firm has plans to further broaden its platform in 2015 to meet the needs of its clients. Case focuses on assets located in the tri-state area and South Florida as well as Philadelphia, Baltimore and Washington, DC, concentrating on deals ranging from $2 million to $25 million.
Category: Best Historic Preservation Novus Equities acquired a distressed, 1930s former Italian social club building in Paterson, NJ’s Sandy Hill section, to restore it as a neighborhood focal point. Reminiscent of the Italianate architectural movement, the property and its distinct features include a hand- plastered curved domed ceiling and skylights, which were completely refurbished for approx. $400,000. Novus saw beyond the boarded-up windows, years of dirt, and an indoor pigeon population to appreciate the rich history associated with the building. Today, 38- 40 Park Ave., serves the city’s growing Dominican- American population with a second-floor social club, Ranchete, as well as two ground-floor retail units.
CaseRealEstateCapital.com 201-845-4244 Follow us !
Local Expertise. certainty of execution. Active in high-yield, sub- and non-performing debt, Case answers the middle market’s need for situational capital.
Debt and acquisition services include buying: • NPLs, judgments & liens • REO properties • Value-add properties
Financing solutions include: • Transitional & short-term bridge loans • DPOs • First & second-mortgage financing • Construction loans
Let’s start the conversation on how Case can help you meet your business objectives in 2015!
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