Steve Croman’s sons find path in real estate
The sons of landlord Steve Croman are all grown up. Jake and Adam Croman have gotten into the real estate business and are following in their father’s footsteps by buying Manhattan multifamily, often partnering with fashion scion Jeremey Tahari. The Croman brothers’ most recent buy was a Chinatown five-story, 118 Mulberry Street, for $2.28 million. About half of units in the building are rent-stabilized, making it a curious bet when the city has capped rents in those units. But commercial rents in Manhattan are still growing, which can buoy revenue. The commercial unit on the ground floor is currently occupied […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Chetrit, Moinian and Minskoff lose pair of Midtown
towers
New bill would expose landlords to more tenant union
lawsuits
Douglas Elliman issues Ryan Serhant cease-and-desist after
veiled comments about Howard Lorber
“Maximum distortion”: How deals are changing on Long
Island’s East End
The American Economy Enters Its “Lost Decade”
Harry Macklowe moves forward on latest condo project
Housing Notes: Hamptons, North Fork & Long Island
have a chronic supply problem
Staten Island rezoning is ahead of its time
NY Dirt: New bill may give retail storefronts blocked by
construction a lifeline
Renovate or Relocate? What To Know Before You Decide To Age
in Place
