2022 Annual Top Broker Awards
New York & Tri-State
Spearheaded $59 million sale of Ravenna Court & Georgian Hall in Jackson Heights
Completed $22.4 million sale of 902-908 Bedford Avenue in Central Brooklyn
Led the New York Multifamily Group to a 23% market share in Brooklyn of $3-million-plus transactions
Riney’s notable sales include the sale of the two largest regulated multifamily building to trade in Queens in calendar year 2021‚ Ravenna Court & Georgian Hall, marquee elevator buildings in Jackson Heights comprised of 198 apartments and 24 stores that sold for $59 million. This was the first sale of the properties since the patriarch of the family built them in the 1930s.
Notable sales in Brooklyn include the largest single asset multifamily sale in Central Brooklyn, 902-908 Bedford Avenue, which traded for $22.4 million with an expiring 421a tax benefit.
The New York Multifamily Group of Marcus & Millichap, led by Riney, accounted for a 23% market share in Brooklyn of $3-million-plus transactions. His team utilized the Marcus & Millichap network to source new buyers eager to take advantage of a bruised local marketplace and depressed rent rolls that are now on the rebound. Of the 68-plus transactions in 2021, approximately 25% entered into a 1031 exchange that the team helped to facilitate in lieu of their overall theme: win-wins are everywhere around us.