New York City - August 25-7, 2015

Project of the Month: Blumenfeld Development Group and Prusik Group developing The Crossings, a 40,000 s/f Bronx retail complex
The Blumenfeld Development Group (BDG), a full-service real estate development firm with a portfolio in the New York metropolitan region, began its first endeavor in ...

Dayan and Ben-Dayan of EVO Real Estate broker $4.25 million co-op sale; Located at 246 West 38th Street; Kim of Halstead Property reps seller, IRE NY Inc.
Jonata Dayan and Jonathan Ben-Dayan of EVO Real Estate Group, a member of NAI Global, have negotiated the purchase of an office co-op at 246 ...

GCP Capital Group negotiates $143.5 million in financing for nine properties; Includes $74 million arranged by Perlmutter
GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $143.5 million for the following nine properties: * $74 million for the construction ...

Amirkhanian and Maddigan of Cushman & Wakefield arrange $32.8 million sale of Broad and Boerum Building
The Broad and Boerum Building at 525 Broadway, located on the northeast corner of Boerum St. and Broadway in Brooklyn's Williamsburg neighborhood, was sold in ...

Northern Manhattan investment sales market sees strong first half of 2015 (1H15)
Buoyed by rising market rents, record breaking condominium prices and a continued imbalance between available supply and surging demand, Northern Manhattan investment properties continued to ...

Finishing up a renovation project: Supplying a completion date in the contract
Clients often come to me when they have a renovation project that seems to be going on forever and should have ended months ago. They ...

Ordinary capital gain treatment from the sale of real property
A partnership of which a married couple were directly or indirectly majority partners, wasn't entitled to capital gain treatment on gain from the sale of ...

Cohen of Besen & Associates completes sale of two Brooklyn retail properties for $2.5 million
Jack Cohen of Besen & Associates has sold 1597 & 1601 Pitkin Ave., also known as 45-53 Amboy St. in Brownsville. The property, located on ...

Gottlieb, Laginestra, Wellen and Meyerson of CBRE rep Macy's in 150,000 s/f lease at The Factory in LIC
According to Atlas Capital Group and Square Mile Capital Management, Macy's has signed a 15-year lease for 150,000 s/f to occupy the entire third floor ...

Hakim and Street of Eastern Consolidated broker $9.75 million retail condo sale
Eastern Consolidated has arranged the sale of a Greenwich Village retail condo at 205 Bleecker St., aka 1 Minetta St., for $9.75 million. Max Hakim, associate ...

Beige Book gives glimpse of sunny summer forecast
Unfolding blooms weren't the only upward movements this spring and summer. The country's economy also was on the rise in mid-May and June, according to ...

Baker and Fishbein of Winick lease 2,400 s/f; Represented landlord, TF Cornerstone
Winick Realty Group has completed leasing efforts at the former Radio Shack space at 7 East 14th St. Working on behalf of TF Cornerstone, Winick ...

Eisenman of RKF leases 3,250 s/f to bagel shop
RKF has arranged a new lease on behalf of H&H Midtown Bagels East on New York's Upper West Side, marking the bagel shop's entry to ...

Palka and Hittman of City Connections represent Mars in 4,800 s/f pop-up lease at 434 Broadway
Vanessa Palka and Dr. Richard Hittman of City Connections Realty have represented their client, Mars, for an M&M's World pop-up location at 434 Broadway. The ...

The revitalization of Flatbush Junction: Time for a plan
With his sleeves rolled up on a recent hot summer day, the Flatbush Junction Business Improvement District (BID) executive director Kenneth Mbonu walked us briskly ...

Infinity and Seven Equity Group acquire 6,097 s/f retail condo for $9.75 million
Infinity Real Estate, a wholly owned business unit of the Infinity Group, in partnership with Seven Equity Group, has purchased 205 Bleecker St., a 6,097 ...

Hodges Ward Elliott expands into New York commercial market; New office to be headed by Silverman
According to Mark Elliot, president and partner of Hodges Ward Elliott (HWE), one of the world's leading independent hotel brokerages, with offices in Atlanta, Los ...

Lebenstein, Wollens, Reichenstein, Stephens, Collins, and Dicker of DTZ rep Inwood House in sale of its Teen Learning Center at 320 East 82nd Street
DTZ, a global leader in commercial real estate services, announced today that its Not-for-Profit Specialty Practice Group and Capital Markets Division have assisted Inwood House ...

GCP Capital Group arranges five loans totaling $46.8 million
GCP Capital Group LLC, one of the nation's most active companies specializing in investment real estate finance, has arranged mortgage financing in the aggregate amount ...

Consolo and Maglio of Douglas Elliman arrange lease for Shanghai Yang at 3141 Broadway
The preeminent national leasing and sales team of Faith Hope Consolo, chairman, and Arthur Maglio of Douglas Elliman's retail group have arranged a lease at ...

Claffey of RFR Realty negotiates two leases totaling 5,053 s/f
RFR Realty LLC has completed two new retail leases totaling 5,053 s/f at several of its iconic Manhattan properties. The leases were sourced and negotiated ...

TF Cornerstone leases 1,500 s/f retail space to Juice Generation
Juice Generation opened its new downtown flagship store at TF Cornerstone's 101 Maiden Lane in the Financial District. The popular juice and smoothie bar chain ...

Winick Realty Group markets Midtown corner retail opportunity on behalf of Fetner
Winick Realty Group president Steven Baker, Aaron Fishbein and Jeremy Wintner have been named the exclusive brokers marketing a high-visibility corner retail opportunity in the ...

Famularo of Eastern Consolidated arranges 1,400 s/f lease for Zuber & Company
Eastern Consolidated has arranged a 1,500 s/f lease at 4 West 19th St. in the Flatiron District for Zuber & Company, the wallpaper and fabric ...

Famularo and Idnani of Eastern Consolidated arrange 800 s/f lease to Caffe Bene
Eastern Consolidated has arranged a 10-year, 800 s/f lease at 24 St. Marks Place for international coffee company Caffe Bene. The East Village location will ...

Tunis, Ferriello and Gazda of Colliers International represent tenant in 13,058 s/f lease
Colliers International has arranged a long-term, 13,058 s/f lease at 469 Seventh Ave., with leading digital agency Situation Interactive taking the entire 13th floor. Founded in ...

WX partners with NEW and provides grant funding to support women in construction trades
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McLaughlin joins Douglas Elliman
According to Douglas Elliman Real Estate, Adam McLaughlin has joined the firm's 575 Madison Ave. office. With over a decade of experience in the industry, ...

Famularo of Eastern Consolidated arranges 3,600 s/f lease to Seoul Bistro
Eastern Consolidated has arranged a 3,600 s/f, 15-year lease for Seoul Bistro, a new restaurant that will be located in a newly constructed 245-key Holiday ...

Madison Realty Capital acquires The Brooklyn Whale Building for $82.5 million
Joshua Zegen, co-founder and managing principal of Madison Realty Capital (MRC), an institutionally backed real estate investment firm focused on real estate equity and debt ...

Elad Group and Silverstein Properties achieve 100 residences sold in less than 60 days at One West End
According to Elad Group and Silverstein Properties, 100 residences have sold in less than 60 days at One West End, the preeminent residential tower rising ...

Real estate technology saves time and deals
Time is an extremely valuable commodity. In real estate, time wasted or misallocated can mean lost business opportunities and precious moments away from family, friends ...

Vegh of Westwood brokers $26.3 million sale of nine-building Brooklyn portfolio; Acquired by Inception Investors and NorthEnd Equities
Inception Investors, a privately held multifamily real estate investment company, together with NorthEnd Equities, closed on a portfolio consisting of nine buildings for $26.3 million. ...

Edelkopf and Zeitchik of EPIC complete $920,000 sale
EPIC Commercial Realty has brokered the sale of 211 Marion St. in Bedford-Stuyvesant. The building, located between Howard and Ralph Aves., currently occupies six railroad ...

Executive of the Month: Falk, executive director of the Union Square Partnership - Has always had an interest in the real estate industry
With executive director Jennifer Falk at the helm, the Union Square Partnership has seen remarkable growth in the district over the last few years. The ...

Sheehan and Sidel of EagleBridge Capital arrange $6 million mortgage financing
EagleBridge Capital has arranged permanent mortgage financing in the amount of $6 million for the Rite Aid Building located at 7821 Third Ave. at the ...

Rockrose Development closes $270 million construction loan for 80/20 project in Long Island City
Rockrose Development Corp. has completed $270 million in construction financing for its 974-unit "80/20" rental apartment tower complex at 43-25 Hunter St. in the Court ...

Molloy and Cox of Hunt Mortgage Group refinances $6.75 million loan for a cooperative multifamily property in Flushing
Hunt Mortgage Group, a commercial real estate lender, has provided a $6.75 million loan, through the Freddie Mac Co-Op program, to refinance a multifamily property ...

Hirsch and Jacob of Meridian refinance $95 million for office building
Meridian Capital Group has negotiated a $95 million mortgage for the refinance of an office property. The 12-year loan, provided by a life insurance company, features ...

Rosenberg & Estis closes $1 billion in EB-5 loans
Rosenberg & Estis, P.C. has closed nearly $1 billion in EB-5 construction mezzanine loans during the past 12 months in New York and beyond. The ...

Zhizhin of ASC finances $9.5 million for portfolio
American Street Capital (ASC) has arranged a $9.5 million in commercial loan financing for a portfolio of investment residential properties in Manhattan, Kings, and Suffolk ...

Ariel Property Advisors retained to sell triple net lease property in the southeast Bronx
Ariel Property Advisors has been exclusively retained to sell 2703 East Tremont Ave., a Wendy’s triple net lease investment property with future development potential. Located ...