183-87 East Third Street, NYC (1995)
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.