04/05/2018

Cohen on Climbing the Ladder to Success

After being appointed the chief sales officer of Besen Associates in 2016, Ron Cohen was already beginning work on one of the biggest transactions he’d ever work on.

 

Cohen, alongside his fellow broker Brian Belkin who sourced the deal, focused their attention on an exclusive sales transaction at a Lower East Side property. Besen initially found a buyer offering $34 million for the property at 167-171 Chrystie Street, or roughly $800 per square foot, but the sellers declined and changed gears by seeking a ground lease instead, Cohen said.

 

And in the time that took, the exclusive contract between Besen and the seller expired, leading them to find another brokerage to work with.

 

But six months later, the sellers would come back to Besen, asking if they could bring back the buyer that was on the table in 2016. Cohen was eventually able to close the deal on a 99-year ground lease valued at $175 million after nearly two years in the making.

 

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