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30 Under 30: The Best and the Brightest of NYC Real Estate

Posted by ONE Commercial on October 4, 2017
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The young leasing and sales professionals to watch in 2017—and beyond
October 4, 2017


Andrew Levine, 24

Director, ONE Commercial Realty Services

 

For his entire real estate career, Andrew Levine has been working with Joshua Lipton, an executive managing director at ONE Commercial Realty Services. First it was at Massey Knakal (later acquired by Cushman & Wakefield). And now it’s at One Commercial Realty Services.

“I started [at Massey Knakal] as an intern when I was 19 years old, and ever since, we’ve been working together,” Levine said. When Lipton left Cushman & Wakefield at the end of last year to work on One Commercial Realty Services’ Upper Manhattan team (ONE Commercial Realty Services applies the geographical territory system that made Massey Knakal successful), Levine was on board. “I wanted to continue working with Josh.” Today, Levine said, “We’re basically building up a team together.” That team comprises eight salespeople, and Levine is hopeful it will grow. He participates in the recruiting process and conducts various trainings for junior brokers at the firm.

The New York University graduate, who received a bachelor’s in economics and a minor in business studies, sold 246-248 West 125th Street, across the street from the Apollo Theater, twice in an 18-month period. In August 2015, he and Lipton did it on behalf of the seller, Harbor Group, to Largavista for $16.5 million. A year and a half later, they sold it for Largavista to Jean Fata of Fata Organization for $17.6 million “in a much softer market.” He also helped GF Capital Management & Advisors assemble a Central Harlem site of two townhouses at 112-114 Edgecombe Avenue and a church at 116 Edgecombe Avenue, which the new owner is “redeveloping into a mixed-use project with commercial on the ground floor,” Levine said. Levine and Lipton represented the seller of 114 Edgecombe Avenue, which traded in March for $2.2 million, and the buyer of 112 Edgecombe Avenue, which transacted in July for $2.1 million. In August, GF Capital bought 116 Edgecombe Avenue directly from the church for $7.5 million.

GF Capital was negotiating all three contracts at once. “[GF Capital] was willing to take the risk,” Levine said. “There was no certainty [of all the deals closing] at all.” Levine said he has sold more single-room occupancy properties in Upper Manhattan over
the last two years than anyone else. The most recent one was an off-market deal on behalf of The Doe Fund. The property, at 828 St. Nicholas Avenue, is a six-story 9,842-square-foot SRO building with 34 units. It was picked up in January for $3.5 million.

View Original Article Here

 

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