1986 44 East 12th Street

12 Story 44 Unit Turn-key Condominium

50’ Frontage

Torresco Realty was engaged as exclusive broker to sell a uniquely formulated  “turn-key” development site which would emerge  from vacant land, passive investment and a landmark zoning decision.  Our client was not only the owner of the parcel but a formidable developer who had achieved an improbable   zoning variance within the “Village” historic district.  Torresco then successfully located an investment consortium which entered into a contract of sale based on the owners ability to deliver a fully featured and finished 44 unit condominium. The contract of sale which signed in 1985 took approximately  twelve months to close. Three stages of construction benchmarked the three phase payment for the acquisition which finalized upon delivery of the finished 10 story  “turn-key”. Torresco Realty LLC was the sole broker in this transaction.

*See articles published by the New York Times and New York Magazine in our In The Media section.

1987 Lindenwood, Queens, NY

202,893 Sq. Ft. Vacant Land + additional 97,107 of Vacant Land

Torresco Realty was engaged as exclusive broker taking on the challenge of representing three separate estates, merged by ownership interest in three different  adjoining parcels of vacant land. The initial negotiation required the three heirs to reach an agreement on each of the three parcels owned in different percentages by all three estates. The combined three parcels were irregular in size and highly undesirable as a result. A contingency sale was achieved  subject to assemblage of additional land adjoining the primary 202,893 s.f. Torresco was further engaged by the purchasers to procure  97,107 s.f. of adjacent land- which if not obtained would trigger the contingency and void the primary contracts. Torresco was successful in delivering the entire 300,000 s.f which offered an inherent “as of right" zoning for 78 townhouses.

Torresco Realty LLC was the sole broker in all transactions.

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1988 1987-91 Third Avenue & 201 East 109th Street, NY

4-Story Retail/Commercial Loft Building 29,800 Sq. Ft.

Torresco Realty sold this commercial loft building on an “open listing” circulated throughout the brokerage community issued by the contract vendee seeking quick assign of the contract held.

Torresco was successful in locating an experienced retail developer who was able to sign an immediate agreement and close title forthwith, saving the speculators original contract and deposit.

Torresco Realty LLC was the sole broker in the “assignment of contract” sale.
 

1991 321-325 West 125th Street, NY (A.K.A 300-316 St. Nicholas Avenue)

2-Story Retail Taxpayer, 13,100 Sq. Ft.

Torresco Realty was engaged as the exclusive broker for U.S. Dept of Justice with an assignment to sell property seized under the R.I.C.O Act.  This transaction required extensive interfacing with multiple title companies as the “forfeiture entity” still retained a potential right in Supreme Court to repossess title subject to court ruling in the criminal trial.  The U.S. Government offered no representations, required a “Time of Essence” closing and was providing  a deed tantamount to “Quit Claim” title. Torresco was able to reach achievable agreements assisted by the title insurers and closed the deal.

Torresco Realty LLC was the sole broker in this transaction--non-disclosure was retired in 2001.

1995 527 West 19th Street, NY

Torresco Realty was granted an “exclusive agency” after owners leasing effort failed. The site had been known as a dance club for many years and had lost its marketability due to tightening community board opposition. Our marketing challenge was aimed at finding a use acceptable to the community, a price acceptable to the owner and a ready, able and willing purchaser prepared to re-develop the property. With 24’ ceilings, unobstructed space and substantial electrical wiring, we commenced a marketing campaign aimed at recording studios, film studios and video production. 

We successfully located an award winning cinematographer preparing to relocate from Florida and start a new production company in New York City. At the time, the entire area between 11th and 12th Avenues was strictly manufacturing or private sanitation/recycling.  Within the next three years a whirlwind renaissance occurred in the area.

Torresco Realty LLC was the sole broker in this transaction.

*See articles published by The New York Times in our In The Media section.

1995 183-87 East Third Street, NY

6-Story Elevator Apartment Building
w/43 Apartments 36,900 Sq. Ft.

Torresco Realty accomplished this sale by acting on an “open listing” circulating within the brokerage community. At closing, Torresco was contracted as the new owner’s consultant with the task of creating a “value added” investment. Torresco upgraded the tenancy, installed new building-wide systems and opened the door to innovative revenue streams such as “site rental”. Torresco developed an ongoing leasing relationship with the location staff of NBC’s hit series ‘‘Law and Order” renting different areas in the building for production shoots used in several aired episodes.  The property realized an overall 250% increase in gross income.

1997 Patriot Square Shopping Center, Stony Point Rockland County

228,515 Sq. Ft. Retail Shopping Center

Torresco Realty was engaged as the exclusive broker by the original builder/developer after rumors of inherent ground contaminants left the shopping center overwhelmingly vacant. After a failed two year rental marketing effort, the owners decided to place the property for sale. Subsequent to five months of diligent wide circulation marketing, Torresco located a venture capital group seeking “value-added” investment property and successfully closed the deal.

Torresco Realty LLC was the sole broker in this transaction.

1999 Casa Renacer 154-56-58-60 East 122nd Street

Torresco Realty was assigned an exclusive brokerage after providing a market evaluation and court testimony on behalf of the estate holder in probate. Torresco was able to secure a transaction via a developer who purchased the site and created 60 affordable units formulated as supportive housing for the mentally ill. The building was formally dedicated on December 18, 2003 with Congressman Charles Rangel, Assemblyman Adam Clayton Powell III and Councilman Philip Reed attending the ribbon cutting ceremony marking the first assisted, supervised and fully supported program of its type in East Harlem.  

Torresco Realty LLC was the sole broker in this transaction.

2000 1841-43 Park Avenue

Torresco Realty was engaged as exclusive selling broker for this transaction which transformed an obsolescent loft building into a viable 17,250 s.f. educational training facility purchased by Association To Benefit Children-sponsored by Frank and Kathy Lee Gifford and other notables.

Torresco Realty LLC was the sole broker in this transaction.                        

*See articles published by Crain’s NY Business, New York Times, Co-Star, Real Estate Weekly in our In The Media section.

2000 Loehmann’s Seaport Plaza, Brooklyn

53,976 Sq. Ft. Retail Shopping Center
50,000 Sq. Ft. Parking Garage

Torresco Realty was engaged as the exclusive broker by the original builder/developer given the task of identifying a buyer for a shopping center where the anchor tenant had publicly announced bankruptcy.  Loehmann’s - an old and respected name in mercantile, had been suffering a severe financial downturn with its stock plummeting on Wall Street as our exclusive was signed.

Torresco Realty LLC represented the seller in a collaboration effort with WRA Realty representing the buyer.    

*See the articles published in the Mann Report in our In The Media section

2001 2071-83 Lexington Avenue, NY (Aka 145-7 East 125th Street)

Torresco Realty was engaged as exclusive broker under an agreement requiring strict non-disclosure and a severely restrictive marketing plan. A sale was accomplished within the dictates of our exclusive when Torresco located an investor who needed to fulfill a 1031 Tax Free Exchange. A swift contract signing/closing timeframe mandated by the purchaser was brought to fruition within ten days. The property offers 100’ retail frontage on Lexington Avenue and 60’ frontage on East 125th Street. The 6 story elevator loft building was purchased for upgrade conversion from loft to office building with ground floor retail.

Torresco Realty LLC was the sole broker in this transaction.

2001 Plaza 105 235-37-39-41-43-45-47 East 105th Street

Torresco Realty was granted an exclusive brokerage for this 11,400 s.f. footprint of contiguous vacant land in 1999.  Although our firm was successful in locating a purchaser almost immediately, the contract took effectively 25 months to close. The ownership was riddled with title, lien and tax issues which took a tenacious collaboration among all parties to resolve at closing. The end result is Plaza 105, a 48 unit newly constructed 8 story building which boasts being the first project to mix moderate with fair market price point in East Harlem.

Torresco Realty LLC was the sole broker in this transaction.