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Commercial Real Estate News
MORE SPONSOR UNITS SOLD
By LOIS WEISS
Wednesday, April 11, 2007 — Apollo Real Estate Partners and Barrow Street Capital have purchased 52 Unsold Sponsor units in The Riviera at 790 Riverside Drive. The magnificent, turn-of-the-century luxury co-op in Washington Heights has a 24-hour doorman. Though the all-rent stabilized block has a loss of $170,000 per year, the buyers paid almost $19 million for it. The King Of Blocks Mark Zborovsky of Mark Zborovsky & Co. was the sole broker in this transaction as well as in the previous sale of this property to the current owner.
Last month Apollo and Barrow paid $40 million for 265 Sponsor Units in Riverdale from RFR Holding through Zborovsky.

The Real Deal — March 2007
Buying up blocks
Bulk buying is a tough task in New York, but some find this a lucrative niche
By Catherine Wigginton
...Mark Zborovsky, dubbed the "King of Blocks," has been selling blocks of rent-stabilized apartments to investors for two decades...

Commercial Real Estate News
SKYVIEW BLOCK SOLD
By LOIS WEISS
Wednesday, March 07, 2007—A large block of unsold sponsor units in The Skyview On The Hudson was just sold by Michael Fuchs and Aby Rosen of RFR Holding, who themselves bought the original 400 unit block from Itshak Tchuva of Elad Properties for much less six years ago.
The co-op is a magnificent property which is comprised of three, twenty-two story buildings with 1,304 apartments and is the largest co-op corporation in Riverdale. The sold block consists of 261 Sponsor Co-ops and was the largest Rent Stabilized Unit block on the market in the last several years. And the ratio of the sales price—under $40 million—to the Vacant Market Value of $100 million, was also one of the highest on the market.
The buyer of the block was a partnership of one of a client of Mark Zborovsky with Apollo Real Estate and Barrow Street Capital. The King of Blocks, Mark Zborovsky represented both the seller and the buyer in this as well as in the previous transaction.
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Commercial Real Estate News
SPONSOR BLOCKS
By LOIS WEISS
Wednesday, February 28, 2007—A block of shares representing 40 unsold sponsor co-ops at 66-15 Wetherole Street in Queens was sold for approximately $4 million. One third of the apartments in the block were deregulated free market with a cash flow of approximately $200,000 a year. The vacant market value of the block was approximately $8 million. The King of Blocks, Mark Zborovsky, brought in the investors to his client sellers.
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Commercial Real Estate News
BLOCK KING SALE
BY LOIS WEISS
Wednesday, February 07, 2007 — A block of 61 unsold shares in Hudson Manor Terrace coooperative in Riverdale was just sold for $9 million, less than half its market value of $20 million. The 214-apartment complex was recently renovated and includes a pool, garages, landscaped courtyard, and terraces with views of the Hudson River.
The purchaser was a joint venture of two investment clients of block marketer, Mark Zborovsky. The King of Blocks represented both the sellers and the buyers in this deal.
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Commercial Real Estate News
SHEEPSHEAD BLOCK SOLD
By Lois Weiss
Wednesday, March 22, 2006—A block of 48 unsold sponsor co-op apartments in 2701 Ocean Avenue in Sheepshead Bay ws sold for just under $5 million.
The King Of Blocks, Mark Zborovsky of Mark Zborovsky & Co. exclusively represented both the seller and the buyer in this transaction.
The annual positive cash flow is in excess of $250,000 and 37 units are already at free market rents. The new owner plans a complete overhaul of the property, and is also considering converting this co-op corporation into a condominium which would be the first such conversion in Brooklyn.
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Commercial Real Estate News
SPONSOR UNITS SOLD
By Lois Weiss
Wednesday, February 08, 2006—A block of 57 sponsor co-op units at 315-321 East 12th Street was sold for less than $20 million. “It was one of the best deals of this type around,” says the King of Blocks, Mark Zborovsky, who represented the buyer. "The East Village location is excellent, the cash flow is $600,000 year and 35 out of 57 units are already deregulated." The vacant market value of the block was close to $30M.
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Commercial Real Estate News
PARKWAY BLOCK SOLD
By Lois Weiss
Wednesday, December 07, 2005— A block of 78 unsold Sponsor Units in Kew Gardens was sold by the King Of Blocks, Mark Zborovsky of Mark Zborovsky & Co. The block is a part of the large, 675 unit, Parkway Village co-op, situated on 40 landscaped acres, with 450 parking spaces, children playgrounds and other amenities. Though it had a negative cash flow of $120,000 per year, the 78-unit block, with a vacant market value of $13 million, was sold for a price of under $5 million. Mark Zborovsky exclusively represented both the seller and the buyer in this transaction.
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Commercial Real Estate News
EAST VILLAGE BLOCK SOLD
By Lois Weiss
Monday, June 06, 2005—Mark Zborovsky of Mark Zborovsky & Co. closed on a bulk sale of 20 sponsor co-ops in 99 East 4th Street for about $5 million or 30 percent of the vacant market value of $16.5 million. The 20 unit was loosing about $40,000 a year. Zborovsky, the King of Blocks, represented both the seller and the buyer in this transaction.
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Commercial Real Estate News
JERSEY CONDO BLOCK SOLD
By LOIS WEISS
Monday, May 02, 2005—An 87 unit block of unsold sponsor units in the Carlton Tower, a 228 unit, 21 story luxury condominium considered one of the top three buildings in Passaic, NJ was sold for about $11 million. The building has a 24-hour doorman/concierge, parking garage, swimming pool, huge balcony in each apartment, and other luxury amenities.
Because 74 of the 87 units are already at free market rents, the positive cash flow for this block was in excess of $600,000. The package had a Vacant Market Value of $16 million. Both the buyer and seller, Carlton Tower Associates, were represented by the King of Blocks, Mark Zborovsky.
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Commercial Real Estate News
KING OF BLOCKS SELLS UNITS
By LOIS WEISS
Monday, April 18, 2005—A block of 27 rent stabilized sponsor units in the Greystone at 127 West 82nd Street and The William at 243 West 98th Street have been sold by an affiliate of Argent Ventures. The King of Blocks, Mark Zborovsky handled the sales assignment for the two beautiful pre-War Upper Westside condominium buildings.
The two blocks sold for under $8 M to one of Zborovsky's investment clients. The buildings are part of the large portfolio of sponsor co-ops and condominiums which Argent Ventures bought from ELAD GROUP last year. The King of Blocks was the broker in that transaction also.
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Commercial Real Estate News
GREENWICH HOUSE BLOCK SOLD
By LOIS WEISS
Wednesday, March 23, 2005—A block of 11 rent stabilized co-op apartments in Greenwich House, at 54 West 16th Street were sold by its sponsor, the Winter Organization, for under $2.5 million to an investment client of Mark Zborovsky. Located on a corner of Sixth Avenue and 16th Street, the building is in excellent condition, the apartments have great layouts, and the tenants are ready to move down to Florida, says Zborovsky. The buyer is one of Zborovsky's long term investment clients. The vacant market value of the block is just under $7 million.
The King of Blocks is now pitching a block of 64 luxurious condominium apartments in The Devon, at 333 East 34th Street for Ziel Feldman and Elliott Joseph of PMG. Converted into a condominium just 18 months ago, the building has been completely renovated. Many of the units have been gutted and then beautifully rebuilt. The 64-units together with the parking garage are available for $32 million.
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Commercial Real Estate News
KING OF BLOCKS SELLS SHERWOOD
By LOIS WEISS
February 16, 2005—The King of Blocks, Mark Zborovsky closed on an under $5 million, bulk sale of 50 sponsor co-ops on Austin Street in Rego Park. The Vacant Market Value of the block that included 18 Free Market Units was under $9 million. This negotiation, he said, required unusually protracted, extremely difficult, sometimes very emotional, personal and unorthodox negotiations with the mainly Russian Board of Directors. The conversations were held by phone and in person, in a formal setting and in a coffee shop, in English and in Russian...
In the end, everyone was happy, says Zborovsky: the sponsor, Arnold Sollar of Delta Management a builder and converter of many properties who sold it for a good price, the Co-op Corporation that reconciled its relationship with Solar, the Buyer, an active purchaser of unsold shares who made a very good purchase, and Zborovsky who spent 14 months to bring this deal to a fruition.
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Commercial Real Estate News
MICHELANGELO SOLD
By LOIS WEISS
November 10, 2004—The King of Blocks, Mark Zborovsky, has just sold an investment in the Michelangelo. Rather than paintings, this block consists of 35 Unsold Sponsor Units in a beautiful co-op building, the Michelangelo, on Bronx River Road in Yonkers. The building's physical and financial condition are great, the apartments are spacious and all have large terraces, and are all free market. The buyer, who bought this $4 million block earlier this month, will enjoy a positive cash flow of $150,000 per year. Mark Zborovsky & Co., Inc., represented both the seller and the buyer.
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Cityfeet New York Newsblast
QUEENS BLOCK SOLD BY KING OF BLOCKS
By Lois Weiss
August 25, 2004—Another large block of unsold sponsor units in Queens was sold through the King of Blocks, Mark Zborovsky.
The block is comprised of 56 Unsold Sponsor Units in a large Condo-up of 529 apartments in Rego Park. The complex consists of 9 six-story buildings, which include garages and professional units. The cash flow on the block was a good positive $130,000 a year, while the vacant market value is $10 million. Zborovsky represented the block’s Seller and the Buyer, who are both large owners of and active investors in the unsold unit market. Mark Zborovsky says that Queens’ market is currently one of the hottest in the city. Coops sell between 35% and 40% of their vacant value, while condominiums sell for 40%-45%.
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