Patrick O'Brien

Senior Managing Director
KW Commercial | North Shore Woodbury

Patrick O'Brien is the Senior Managing Director of Keller Williams Real Estate-Commercial Division, a leading full-service commercial brokerage firm specializing in corporate real estate services. A leader in the world of commercial real estate, Patrick is responsible for incorporating a full-service retail real estate division at Keller Williams, one of the leading real estate firms in the world. As Managing Director, Patrick is responsible for strategic planning and the company's day-to-day commercial operations that involve overseeing multiple offices spanning across the NY Metro Area. Including recruiting top talent, business development, and integrating the company's real estate brokerage activities with project management, facilities management, and property management. Patrick created the idea of a commercial unit to take advantage of the referrals that were filtering out of the company's private offices. Patrick has developed an excellent referral base of loyal clients completing more than 350 million dollars in real estate transactions, including several noteworthy offices/industrial leases and retail developments with national chains representing some of the most recognized names in the real estate and business arena. Patrick started his career in 2003 as a real estate mortgage broker, eventually becoming a manager. He had a successful career until the housing market crisis in 2009. In 2010, Patrick entered the world of commercial real estate at Douglas Elliman Commercial where he became Head of Business Development within his first three years of being with the company. Working with Keller Williams commercial division, he represents all major property types, including office, industrial, retail, apartment, and land. He treats each assignment with commitment and focuses on a single transaction in a local market to national and multi-market assignments. He will negotiate contracts, coordinate construction, provide both property management, as well as ongoing advisory services to satisfy your changing real estate needs. His breadth of market knowledge and the use of innovative information and technology extends to all types of property transactions. His network provides his clients with a national outlet to sell or purchase properties throughout the United States. Services for Landlords/Owners: ● Acquisition/disposition strategies ● Contract and lease administration ● Assessment of leasing opportunities ● Occupancy projections and budgeting ● Qualification of prospects ● Recommendations on pricing ● Contract negotiation ● Property sales and leasebacks Services for Tenants/Buyers ● Complete, thorough, detailed market analysis ● Initial consultation and strategic planning ● Evaluation of requirements ● Market and comparative property analysis ● Buy-lease-build consultation ● Space expansion or consolidation ● Contract negotiations and renewal

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Commercial Office
For Sale
Professional Office Building For Sale
340 Westbury Ave, Carle Place, New York 11514
Market
.13 Acres
This 3,500 SF one-story Office Building located in Carle Place is perfect for any Professional End-User. The interior boasts a reception area for customers/clients, a large bullpen, a conference room, and 5 sizable executive offices. It was renovated recently with a new roof, stucco front, oil burner roof unit, and is meticulously maintained. The lot size is 5,695 SF with four parking spaces, but there is extensive street parking directly in front of the building and a municipal lot around the corner. The current owner has had up to twelve employees and never had any issues. The property sits between all major Highways and Parkways, including the Meadowbrook, Wantagh, Northern & Southern State, and is also close to the Long Island Expressway. The Carle Place L.I.R.R is a short 9-minute walk for any employee's using the train to commute. This 3,500 SF one-story Office Building located in Carle Place is perfect for any Professional End-User. It was renovated recently with a new roof, stucco front, roof unit, and is meticulously maintained. The lot size is 5,695 SF with four parking spaces, but there is extensive street parking directly in front of the building and a municipal lot around the corner. The current owner has had up to twelve employees and never had any issues. The property sits between all major Highways and Parkways, including the Meadowbrook, Wantagh, Northern & Southern State, and is also close to the Long Island Expressway. The Carle Place L.I.R.R is a short 9-minute walk for any employee's using the train to commute.
12/20/2019 10:19:18 PM   2/22/2020 2:27:33 AM
Commercial Retail
For Lease
Roosevelt Avenue
52-22 Roosevelt Avenue, Woodside, New York 11377
$Negotiable
Brand New Corner Commercial Building Brand new, beautiful retail & community space available for lease in brand new 5 story mixed-use building. This building has great corner visibility with fantastic foot traffic that is perfect for any national retailer. The second floor is wide open and can be used as a medical space. Woodside is a great demographic being that it has a strong residential community. The building is conveniently located right off the 7 train and is only a ten-minute ride into Penn Station for anyone working in Manhattan. The building tenants are currently coming in from Sunnyside and LIC, as well as Brooklyn. The residential units will have a community facility with a rooftop lounge and a view of Manhattan. The retail space lends itself to wide audience and the second-floor is perfect for any type of medical user. Please contact the KW Commercial Division with any Questions. Despite the obstacles facing traditional retailers throughout the U.S. created by e-commerce, New York retail fundamentals are better positioned given its unmatched density and concentration of wealth. That’s not to say the market is not seeing any effects of disruption as declines in vacancy have dissipated over the last two years. While several high-profile projects are expected to deliver in the near term, they are predominantly preleased which should keep vacancy levels flat. Rent growth has trended downward since 2015, and now sits in negative territory as of 19Q1, as the proliferation of new projects makes it difficult for owners to hike rents. Still, fundamentals are stable as a rise in jobs and earnings coupled with increased tourism pave the way for consumer spending. Ground floor retail, specifically in Manhattan’s prime retail corridors, tells a different story. Storefront vacancies have risen considerably as retailers are conceding ground to e-commerce while rents can reach well above $3,000/SF in certain prominent corridors according to the Real Estate Board of New York (REBNY.) The fact that major names like Gap, Tommy Hilfiger, and Henri Bendel have vacated the Fifth Avenue corridor during a time when foot traffic from tourism is at an all-time high speaks to the challenges facing retailers. Brands are shifting away from large expensive flagship stores, opting to instead beef up their online presence while operating smaller shops designed to provide interactive customer-driven experiences. Owners are finally reacting in hopes of quelling the gains in vacancy, with REBNY reporting that the majority of ground-floor retail has witnessed annual declines in asking rents. Landlords have also offered short term leases and provided more capital to enhance tenant build-outs as a strategy to fill vacancies. New construction in the metro outlines the shift toward more experiential retail as owners aim to drive foot traffic through a multi-layered customer experience, knowing that shopping today is increasingly done online. At 20 Hudson Yards, shoppers not only have access to traditional retailers but also 77,000 SF of online-only brands not found anywhere else to go along with a food and beverage component featuring an abundance of dining options. At the American Dream Mall in New Jersey, entertainment options include a theme park and an indoor snow park when the mall opens later in 2019. New York was the first market where investors swooped back in and bid pricing back up to prerecession levels by 2013. Sales volume this year is off to a strong start with over $2 billion traded in 19Q1. Investment activity in 2018 marked the highest annual sale volume in the current cycle, eclipsing the previous year by roughly $2.5 billion. New York isn’t a market for investors seeking to beat the national major-markets average in total returns, as the current price per SF is at all-time highs and cap rates are among the lowest in the U.S. However, New York is still a strong choice for core investors given its desirability to retailers, unparalleled density, and history of above-average income growth. Woodside is a residential and commercial neighborhood in the western portion of the borough of Queens in New York City. It is bordered on the south by Maspeth, on the north by Astoria, on the west by Sunnyside, and on the east by Elmhurst and Jackson Heights.
9/26/2019 8:47:01 PM   2/20/2020 2:40:16 PM
Commercial Industrial
For Lease
Industrial in Prime Demographic
1028 Grand St, Brooklyn, New York 11211
$Negotiable
.28 Acres
Negotiable The resurgence of Brooklyn as a commercial and residential hub has transformed industrial fundamentals in the North Brooklyn Submarket. Thanks to the burgeoning commercial presence in evolving neighborhoods across the submarket, and a substantial uptick in tenants eager to fill new apartments, logistics buildings now compete with commercial and residential projects in the search for land to develop. As a result, new large-scale logistics deliveries are nonexistent, and older industrial inventory is frequently lost to conversions or ground-up redevelopment of other property types. Flourishing commercial demand and limited supply of new industrial inventory have allowed for more- aggressive rent growth compared to the national growth rate, as North Brooklyn market rents increased to near 40% in the past five years. North Brooklyn represents one of the largest industrial submarkets in the New York metro. However, the escalated demand for other property types encouraged rezoning laws and continues to reshape the landscape of the submarket. The overall inventory levels have decreased every year post-recession, and only a handful of smaller industrial projects have delivered this cycle. The larger stock of the deliveries was located in the East Williamsburg Industrial Park off the east side of the Brooklyn Queens Expressway (Interstate-278), which has seen far less exposure to conversions. The North Brooklyn area is devoid of any industrial product in the pipeline, as no industrial projects have recently broken ground in any part of the submarket. With multifamily vacancies near historic low levels and office rents far exceeding the precession peak, it is not altogether surprising that landowners are choosing to target other property sectors rather than industrial development when possible. The explosive growth in the demand for residential and office spaces in the area is also fueling North Brooklyn sales activity ahead of all other submarkets in the New York metro. Sales volume, in terms of the number of deals and asset values traded, has grown exponentially since 2011. One of the largest buildings sold in 2018 was a 115,000-SF warehouse at 202 Tillary St., in Downtown Brooklyn. Maddd Equities and Joy Construction traded for the asset at $30 million ($261/SF) in January, with plans to redevelop the property into a larger residential building that will include a portion of affordable units. A few months earlier, in the adjacent neighborhood of DUMBO, Hope Street Capital acquired a 22,000-SF warehouse for $60 million at 74 Adams St. The transaction includes development rights of about 145,000 SF, all of which developer Jeffrey Gershon plans on utilizing for a 10-story residential building, with a number of amenities and commercial space. While the increased sales volume is driven by conversion assets in evolving neighborhoods such as Downtown Brooklyn and DUMBO, there is still demand for industrial use in less-desirable residential neighborhoods, like Red Hook. The largest transaction this year includes plans to develop an 88,000-SF warehouse property across from Red Hook Park. In May 2018, DH Properties Holdings signed a 99-year ground lease at 537-555 Columbia St., with intentions to deliver a Class A industrial development for last mile distribution tenants. The transfer of the new leasehold is valued at $280 million over the term of the lease.
5/29/2019 8:08:26 PM   12/3/2019 8:24:00 PM
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