COMPANY PROFILE

Michael Sabbagh Real Estate handles the construction, development and leasing of residential real estate from every angle. MSRE was formed to provide property owners with residential expertise given by a developer’s point of view.

Over the past several years, New York has seen an influx of foreign as well as domestic capital deployed into real estate. This result has been cap rate compression and fierce competition which now forces developers to pay closer attention to above grade spaces. With years of experience in the field, MSRE steps into a developers shoes and ensures that expectations are exceeded.

PROJECTS

270 Monroe

MSRE acquired the leasehold on this 25,000 square foot property back in 2012. With seven of the fifteen apartments vacant and in desperate need of improvements, MSRE renovated each one and leased up the building shortly afterwards.

400 7th Avenue

400 7th Avenue was purchased by MSRE’s parent company In February 2015. MSRE will be handling the renovation and lease up on both of these mixed use properties. Over the next six months these one bedroom units will undergo a full gut renovation and be converted to two bedrooms.

226 7th Avenue

226 7th Avenue was purchased by MSRE’s parent company In February 2015. MSRE will be handling the renovation and lease up on both of these mixed use properties. Over the next six months these one bedroom units will undergo a full gut renovation and be converted to two bedrooms.

145 Spring

145 Spring street is a mixed use building located in the heart of SoHo with five full floor lofts and one duplex penthouse. MSRE oversaw construction and leasing on several units while achieving roughly $90 per square foot from an average of $55 per foot.

 

MSRE has now recently been hired to handle the gut renovation and leasing of the sprawling 3,000 square foot duplex, which sits atop of this building. The firm is in the process of interviewing an architect, expediting firm and builder in order to achieve over $100 per square foot.Project duties include overseeing construction, working on schematic design, tweaking the layout for efficiency and selecting finishes.

711 Madison

711 Madison Avenue is a 10 unit mixed use building located at the busy intersection on Madison Avenue and 63rd Street. MSRE was hired to oversee the residential component of this five story building in order to ensure the residential rents are at market levels.

 

Over the past several months, MSRE oversaw construction on several of the apartments and currently has two one-bedroom partments for rent. These one bedroom units are now equipped with state of the art kitchens, new wood flooring and marble bathrooms.

395 Bleecker

395 Bleecker Street is a four-story landmark on Bleecker Street between Perry and West 11th Streets.This townhouse sits in the heart of the historic West Village, one of Manhattan’s most desirable residential and retail neighborhoods. The ownership purchased this townhouse with the intentions of converting the ground and lower level to retail use and convert the three upper floors to a one unit triplex with rooftop terrace space.

MSRE has been hired for their leasing and consulting services. The consulting services include selecting an architect, expediter, contractor and engineer, advisement on floor plan layout, attending LPC and Community board meetings for approvals, selecting finishes as well as reviewing schematic design. Leasing services include and are not limited to hosting open houses, extensive marketing of the townhouse to achieve top of the market rent.

136 William

Located in the heart of the financial district, 136 William street is a mixed use building consisting of ten apartments over five stories.One of the firm’s first projects was the assistance in leasing the residential units.

 

Equipped with modern finishes and new appliances, MSRE has been able to help theownership with achieving top dollar rents and keeping vacancy at minimal levels.

28 East 14th

28 East 14th Street is a five story mixed use property centrally located in the heart of union square. With soaring ceiling heights and exposed brick walls, these apartments make for ideal living conditions.

 

One of MSRE’s first projects was assisting the ownership in the leasing these units in2011. Prior to MSRE’s services, these 900 square foot apartments were being leased for under $5,000 a month. The firm was able to help the ownership increase the rents to an average of $6,500 per unit through its unique marketing approach.

311 Broadway

311 Broadway is a five story mixed use building located at the border of Tribeca and the financial district. With 8 residential lofts comprising of 1,500 square feet, these units have excellent light, new hardwood floors, renovated kitchens and HVAC systems.

 

MSRE was hired in 2011 to oversee renovations and for its leasing services. The firm continues to handle the leasing of this property while achieving above market rents and maintaining vacancy at record lows.

63 Spring

63 Spring street, located at the intersection of Lafayette and Spring street, is comprised of four residential full floor units along with ground floor retail. The property spans almost 100 feet along Lafayette thus creating ideal living conditions for residential end users.

 

The four full floor units at this property are currently undergoing a complete gut renovation and will be equipped with brand new kitchens, bathrooms and hardwood flooring. MSRE was recently hired to handle the residential lease up of this property and will achieve top of the market rents.

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SERVICES

Consulting
Management
Leasing
CULSTATNATAS
I. MARKET RESEARCHMSRE conducts an in depth market analysis to understand all aspects of the specific residential market. This includes running residential comparables, studying location demographics and identifying market trends. This data allows for MSRE to formulate proper floor plans, select finishes and appliances but most importantly determine accurate pricing.II. PRE – PURCHASE UNDERWRITING ADVISEMENTAs the competition for retail in Manhattan is at an all time high, MSRE has seen a void in the market in where retail driven investors do not ascertain the expertise to underwrite residential space properly. Cap rates are being driven down by fierce competition and developers are being forced to take a closer look at above grade space. It is becoming more and more evident that the only way to compete in today’s marketplace is by extracting value through a residential component. With absolutely no commitments from developers, MSRE will perform underwriting advisement for developers in order for them to fully grasp the value of a mixed use building.III. PRE-DEVELOPMENT PLANNINGMSRE will analyze a property from an end users perspective as well as from a developer’s standpoint. This approach enables a property owner to maximize the income of an individual property. These pre development services include and are not limited to:• Formulating a project budget • Creating a financial model in order to understand investment and returns • Reaching out to architects and designers for project proposals • Bidding out projects with contractors • Working with land use attorneys for feasibility studies • Pricing expediting services • Recommend IMD, rent control and rent stabilization attorneysIV. DEVELOPMENT STRATEGYMSRE has taken a focus working on residential rehabilitation projects throughout Manhattan. These development consulting services include working hand in hand with property owners, architects, designers and expediters in order to ensure that a project is completed efficiently and correctly. These consulting services include and are not limited to-• Tweaking or creating a floor plan for an efficient layout • Consistent meetings and site visits with architects and contractors • Ensuring work is completed by project deadlines • – Dealing with LPC and community boards for project approvals if necessary • Biweekly progress reporting for consistent updates • Aesthetic input on all finishes and designs

Blog

Madison Ave walkup

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Gut renovation of this one bed/one bath was just completed by MSRE. With new flooring, kitchen & bathroom, this apartment should rent for above 30% of the prior rental rate. Contact us for leasing inquiries!

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Gut renovation of this one bed/one bath was just completed by MSRE. With new flooring, kitchen & bathroom, this apartment should rent for above 30% of the prior rental rate. Contact us for leasing inquiries!photo 3photo 5photo 3photo 1

Bleecker Street Renderings

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Infused with neutral elements and bold colors, this contemporary design makes a statement. Its sleek, stylish and radiant with charisma. Just wait until you see the views which face out onto a private garden.

We are more than happy to listen to your design critique! get in touch at info@msreny.com

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Infused with neutral elements and bold colors, this contemporary design makes a statement. Its sleek, stylish and radiant with charisma. Just wait until you see the views which face out onto a private garden.We are more than happy to listen to your design critique! get in touch at info@msreny.comScreen Shot 2014-12-17 at 10.09.35 AM Screen Shot 2014-12-17 at 10.09.42 AM Screen Shot 2014-12-17 at 10.09.47 AM 

Can you tell the difference?

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Can you identify the difference between these plans? What most people don’t realize, is that each square foot can mean all the difference when formulating a schematic design. One scenario pulls us towards expanding the bathroom and installing a double sink, and the other is to provide the rear bedroom with an additional 20 square feet. Give us your feedback!

Screen Shot 2014-12-02 at 7.04.36 PMCan you identify the difference between these plans? What most people don't realize, is that each square foot can mean all the difference when formulating a schematic design. One scenario pulls us towards expanding the bathroom and installing a double sink, and the other is to provide the rear bedroom with an additional 20 square feet. Give us your feedback!

Park Slope Multifamily Development

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MSRE has been hired to be the project manager of 226 and 400 7th Avenue in Park Slope.The following services will be performed over the next six to eight months.

List of duties includes-
-Interviewing and hiring an expediter, architect, contractor and mechanical engineer.
-Extend the retail on 226 7th Avenue
-Renovation and lease up of residential units.
-Renovation of common areas including facade restoration.

MSRE has been hired to be the project manager of 226 and 400 7th Avenue in Park Slope.The following services will be performed over the next six to eight months.List of duties includes- -Interviewing and hiring an expediter, architect, contractor and mechanical engineer. -Extend the retail on 226 7th Avenue -Renovation and lease up of residential units. -Renovation of common areas including facade restoration.

West Village Project

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An existing sketch of the building’s front and rear facade….. We can’t wait to transform this 19th Century home into a contemporary townhouse along with high end retail.

An existing sketch of the building's front and rear facade..... We can't wait to transform this 19th Century home into a contemporary townhouse along with high end retail.

New project at 63 Spring Street

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Almost finished construction at the corner of Spring and Lafayette. We should be bringing these units to market later this week!

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Almost finished construction at the corner of Spring and Lafayette. We should be bringing these units to market later this week!IMG_9587IMG_9586IMG_9581IMG_9588

GET IN TOUCH

Email : michael@msreny.com
Phone : 212.924.1520
900 Broadway, Suite 803, New York, NY 10003