prc: Troppe gets Hands on another Downtown Akron Building --- "Thank Goodness!" - 06/12/09 04:18 AM
LANDMARK RESCUED Tony Troppe renovating historic Kaiser
Building for use as cafe, offices across from Canal Park
By Betty Lin-Fisher Beacon Journal staff writer
Photo credits (Ed Suba Jr./Akron Beacon Journal)
A downtown Akron building whose last owner lost it to foreclosure after a failed attempt to sell it on eBay is getting new life under the eye of historic building renovator Tony Troppe. Plans call for the Kaiser Building, across from Canal Park on South Main Street, to have a cafe or store in two slots on the first floor, offices on the second floor and a mix of offices and … (2 comments)

prc: General Growth (2nd largest U.S. Mall owner) files for bankruptcy protection - 04/16/09 02:30 AM
General Growth Properties Inc, the second largest U.S. mall owner, filed for bankruptcy protection on Thursday in one of the biggest real estate failures in U.S. history.

Ending months of speculation, the Chicago-based mall owner, which listed total assets of $29.56 billion and total debts of $27.29 billion, sought Chapter 11 bankruptcy protection from creditors along with 158 of its more than 200 U.S. malls, while it seeks to restructure some of its debt.
Since November, General Growth has warned that it may have to seek protection from its creditors when it was unable to refinance maturing mortgages. The company … (4 comments)

prc: Downtown Akron Office/Retail Building FOR SALE ** Impossible to Find Similar ** Motivated Sellers - 04/14/09 09:55 AM
 
 
(2 comments)

prc: 4-Units ** Cuyahoga Falls ** Separate Utilities ** Make Offer - 04/14/09 09:51 AM
 
 
(0 comments)

prc: Apartment Complex For Sale - 03/21/09 01:56 PM
 
 
(0 comments)

prc: A Creative Blunder - Alienating Apartment Owners/Sellers through Aggressive Marketing - 03/11/09 07:36 AM
Howard Hanna Real Estate offers to take over buyers' leases
Howard Hanna Real Estate Services is adding a stimulus of its own to the housing market, in the form of a program in which it will take over the lease of an apartment renter who buys a home through the brokerage.
Look for ads this weekend promoting what the company calls “The Apartment Dwellers Trade-in Program.”
Howard “Hoby” Hanna IV, president of Howard Hanna Ohio, said the company decided to offer the program because it’s seeing more prospective homebuyers in the market thanks to the new, $8,000 federal tax credit for … (5 comments)

prc: Commercial Real Estate Delinquency Rate Doubles - 02/24/09 04:05 AM
Commercial Real Estate delinquency rates have increased dramatically year-over-year.

The latest numbers from the Federal Reserve for Q4 2008 put the current delinquency rate on commercial real estate loans at 5.36% across all banks, and 5.27% at the largest 100 banks. 5.27% is nearly double the 2.65% recorded in Q4 2007, and a 10% quarter-over-quarter increase from Q3 2008.
The Federal Reserve defines delinquent loans as those which are past due thirty days or more and still accruing interest as well as those in nonaccrual status.
They are measured as a percentage of end-of-period loans. In addition, the Fed … (2 comments)

prc: What do you use twitter for? The results of poll.. - 02/22/09 12:41 AM
With an overwhelming 50% of the votes, Business was the category that takes honors for twittering!
Social was 2nd with 33%...
To see the actual results, visit the link below or start your own poll and let me know about it so I can vote!
 
http://twtpoll.com/r/4u9xnh
(4 comments)

prc: At the crossroads... - 02/14/09 12:05 AM
I 3> this song and will probably always get a release of endorphins when I hear it, I hope by sharing the tune and the video that someone else finds a similar feeling, or simply just enjoys it.  Happy Valentines Day!

This song is often rumored to tell the story about a stripper.
The stripper statement is simply a misunderstanding.
Jack Johnson wrote this song about a young girl named Taylor, hence the title of the song.
The song tells the story of three characters. The main character is Taylor, a sweet, young, innocent, lonely little girl, who is … (9 comments)

prc: Missing your audience? - 02/09/09 08:50 AM
With the changes in thinking, living and existing that society as a majority has assumed and is currently living.  It is amazing to myself and others why so many apartment advertisements and property sellers are utilizing the same messages they were before the economic issues afflicted us.  It would seem appropriate to make a seismic shift in the message to strike the chords with the audience!

Communcations firm DMB & B says:
"When faced with penny pinching consumers, it helps to shift your ad campaign from messages like ‘luxury' and 'status enhancement' to efficiency and value."
It would appear that … (3 comments)

prc: Are you using Video's to Market your properties? - 02/03/09 01:32 AM
Are you using Video's to Market your Properties?
YouTube Attracts 100 Million U.S. Online Video Viewers in October 2008

Hulu Continues Ascent, Ranks #6 in Online Video Market Share ~ <To get a better idea of Hulu, go to Youtube and type in a search for "30 rock" and click on one of the episode videos and the first thing that will usually flash is the Hulu Logo...
ComScore (SCOR: 11.61, -0.53, -4.4%) , a leader in measuring the digital world, today released October 2008 data from the comScore Video Metrix service, reporting that U.S. Internet users viewed 13.5 billion … (8 comments)

prc: Mall-Oleums - 01/29/09 10:22 AM
Remember when Malls were the place to go and for a while people avoided them because they were too crowded!
Can you recall when the walkways of malls were filled with Bustling Kiosks and shiny model cars?
Those days of successful franchises filling the spaces is long gone and malls are soon to be Ghost Malls in certain areas and demographics. (i.e. Rolling Acres Mall... What a Disaster...)
For the last 20 years, the American consumer has carried the burden of the world on its broad shoulders. A heavy yoke, to be sure, but one that steroids made lighter; the steroid … (2 comments)

prc: Apts-for-Sale.com - 01/25/09 01:03 AM
I have used this site for years and although it, to my knowledge, has never paid a dividend, I enjoy the fact that only apartment complexes are listed on the site.
Ultimately, it appears some of the main administrators utilize national listing mediums, such as Wall Street Journal and For Sale listings to compile its list.
Again, I reiterate this is a nice organizational tool for Apartment complexes for sale.
This site seems to handle ass small as 5-unit up to major portfolio properties (500 units+).
http://www.apts-for-sale.com/ubbcgi/ultimatebb.cgi?ubb=get_topic;f=1;t=020591

 

 

(3 comments)

prc: Commercial Real Estate Exposure Catches Banks in Economic Downdraft - 01/23/09 02:14 AM
Commercial Real Estate Exposure Catches Banks in Economic Downdraft
Banks Report Deterioration in Nonresidential Loan Portfolios, Tighten Purse Strings

THE OTHER SHOE HAS DROPPED.
Banks began issuing their fourth quarter reports this week and a potential major trend appears to be the negative effect deteriorating business conditions are beginning to have on the credit quality of their commercial real estate loan portfolios.
In addition, banks are reporting they expect the credit quality of their portfolios will only continue to worsen. Not surprisingly, bankers also noted that the overall demand for loans has declined and so has the credit quality … (4 comments)

prc: University of Akron - EJ Thomas Performing Arts Hall -- Upcoming Events - 01/19/09 12:33 AM

 
Upcoming Events
Jan 23 -   Dirty Rotten Scoundrels Musical
Jan 27 -   Bob the Builder Live
Feb 06 -   Zoso: the Ultimate Led Zeppelin Experience  
Feb 07  -  Bye Bye Birdie: The National Tour  
Feb 17 -   Rain - The Beatles Experience -- Not the Activerain experience! lol
 
 
(0 comments)

prc: How not to make an offer - 01/18/09 12:14 AM
I just received this offer via email this morning...
"all cash deal 2.2m dollars ?"
How many issues exist with this offer... Let me count the ways...

#1.  All Cash Deal - In essence, does this not mean, I will go to the bank and get financing and your Seller will get paid off with a check or is the Buyer trying to indicate, they will show up to closing with a steel briefcase loaded with $2.2 Million dollars...
#2.  Who are you...  Other then some random indistinguishable address like ILoveGraySquirrels@yahoo.com, does the cloak of invisibility help you or hurt … (15 comments)

prc: Speechless Sunday - 01/17/09 11:45 PM
No incoherent ramblings from me today... I know, i know... your crushed!  We'll I can only hope that the solice I am providing in this photo will help to lift you up and get you through the day.  A little over the top?  Dramatic Pause...
The picture below is of the Akron Skywalk passageway.  This is basically a hallway that leads to and from the parking garage to downtown office buildings... But I hope this picture works to spice up the hallway!

(11 comments)

prc: One way to determine value for Multi-Family Investments - 01/13/09 10:06 AM
 

 
NOI stands for NET OPERATING INCOME.
To get to NOI, you must first start with the Gross Income (rentals, laundry, etc) minus % for Vacancy which leaves the Adjusted Gross Income.  Taking this number, you then apply the operating expenses (i.e. - Management, Maintenance, repairs, utilities, reserves, etc) which leaves you with your Net Operating Income. (i.e.-Income before Mortgage Debt)
Below find a brief numerical example...
GOI - $100,000
Vacancy - 10% - ($10,000)
ADJ GOI - $90,000
OP EXP - ($45,000)
NOI - $45,000
Now the rule of thumb throughout the industry (especially in Northeast Ohio) is … (1 comments)

prc: Chasing Dreams v. Reality Check - 01/13/09 12:17 AM
Is now the time to chase a dream?
Is now the time to buckle down and cement a reputation for yourself in RE?
These questions, of course, can only truly be answered by the person contemplating them...  We recently added a new agent to our office who is family and most likely the long-term future of the company, in our eyes.
Yesterday he sat down separately both with our broker (his uncle, my step-father) and delivered his most difficult pitch to this point, i am sure of that.  He is leaving us in 4-6 months to chase down a dream and … (11 comments)

prc: The Ties that Bind it all Together - 01/09/09 02:00 AM
I am the tie that binds a deal together!  I am not over-confident, in fact, I am simply stating the view from my perspective. A promise that is in the below video from the 2:25 moment and on, sums up how I feel about an agents role in catalyzing a transaction!
"You will never see a player, play as hard as I will the rest of the season, and you will never see someone push the team as hard as I will push everyone the rest of the season, and you will never see a team play harder then we will … (7 comments)

 
Sean Dreznin, Commercial Investment Real Estate Agent (NAI Tampa Bay)

Sean Dreznin

Commercial Investment Real Estate Agent

Sarasota, FL

More about me…

NAI Tampa Bay

Address: 12400 Seminole Blvd, Largo, fl, 33778

Office: (813) 872-7200

Mobile: 941-961-8199

Email Me

function utmx_section(){}function utmx(){} (function(){var k='0920198950',d=document,l=d.location,c=d.cookie;function f(n){ if(c){var i=c.indexOf(n+'=');if(i>-1){var j=c.indexOf(';',i);return c.substring(i+n. length+1,j')})(); utmx("url",'A/B'); Commercial Investment Real Estate, Ohio, Summit County, Cuyahoga County, Apartments For Sale, Multi-Family, Retail if(typeof(_gat)!='object')document.write('') try { var pageTracker=_gat._getTracker("UA-7686548-1"); pageTracker._trackPageview("/0920198950/test"); }catch(err){}


Links

Archives

RSS 2.0 Feed for this blog