LEASE
IMAGE: Jerry Pi, Christopher Okada & Avery Reavill
DATE: 06/15/2023
ADDRESS: 474 7th Avenue
MARKET: Garment District, Manhattan
ASSET TYPE: Office
LANDLORD: Pi Capital - Jerry Pi (@TheJ...
View Post on Instagram: https://t.co/n75jWwTbwX
SALE
IMAGE: Christopher Okada & Matthew Fernandez
DATE: 08/07/2023
ADDRESS: 754 Grand Street
MARKET: Williamsburg, Brooklyn
ASSET TYPE: Multifamily
BUYER: Broadway Square
SELLER: Pamber Realty - P...
View Post on Instagram: https://t.co/w0TG9iZ8YS
The beauty of NYC Commercial Real Estate
@bobknakalnyc posted this photo of a development site assembled by Extell Development and sold to Bentley Zao. HOWEVER, the small gray building with the red awning on the left was once known as 137 East 47th Street. It changed my life and it’s impact echoes decades later.
I was just starting out in real estate working for my father, and at the empty desk next to mine a phone rang and I picked it up. George Rokkos was looking for an old associate that had left a year earlier. I introduced myself and asked how I could help him. Long story short he had a vacancy on the 2nd floor of his walk up. This was my first landlord agency. I leased it in a couple of months and had earned my commission.
One year later, I receive a call from George Rokkos again and he asked me if I sell properties, and although I had zero experience, I said “of course!” And met him in person. He confessed he was sick with cancer and he wanted to leave something for his children. After months and months of marketing and advertising I finally secured a purchaser and we were set to close.
I didn’t know it then, but the impact this closing had on me was absolutely incredible. Once the checks were distributed, I was absolutely giddy. The total commission was around $75,000 and my half ($37,500) felt like so much money to me, especially because it was in a single check. I knew from then on the NYC CRE was my calling.
I sold the property 8 years later to Gary Barnett and the purchaser of 137 E 47th had made an 8x on their equity during that time.
2nd picture is of me with friends later that summer at 24 years old.
There’s a once in a generation buying opportunity in NYC. Mark your calendars for 11:00 EST where we discuss the NYC CRE market with special guest @BobKnakal on @WOLF_Financial Space. Tune In!
NYC's average office occupancy reached 47% last week — the strongest back-to-office week since the pandemic. @robtfrank has the details. https://t.co/jRuAXJiNWx
Love Social Media content creation? Love seeing content go viral? Love real estate & blockchain? Apply here!
Check out this job at Okada & Company: https://t.co/387NQtNFlZ
Chris Okada, a landlord from Manhattan listed his office as an #NFT for approximately $30 million available on Opensea 😮 @ChrisOkada
https://t.co/ogUxTzXt1Z
🗽 Tomorrow in New York during @NFT_NYC! We're hearing from buidlers and frens on a panel:
NFT Innovation & Future ft. @LensProtocol, @masknetwork, @arcade_xyz, @rss3_!
Also ft. very special keynotes from Metis and @OkadaCompany!🌿
See you tomorrow?!
Event below 🥂
How are we BUIDLING in web3?! Well by selling buildings as NFTs of course ;)
Hear from @ChrisOkada from @OkadaCompany on how he's shaking up NY real estate by going web3 🗽