Front Section - February 24-9, 2015

Recent Change in Law Clarifies Accrual Date of Contractor's Claims for Payment Against the N.Y.C. S.C.A.
On December 17, 2014, a new law was enacted which amends the accrual date for a contractor's construction contract claim against the New York City ...

de Blasio launches Green Buildings Technical Working Group; Goal: 80% reduction in greenhouse gas emissions by 2050
Mayor Bill de Blasio revealed the launch of the Technical Working Group, which will help move forward the mayor's aggressive green buildings plan, marking a ...

Industry mourns loss of J. Gruzen of Gruzen Samton
Architect Jordan Gruzen died at home on January 27th, at age 80 surrounded by his family. Gruzen, whose career spanned six decades, played a significant ...

Bar-Or of Meridian arranges $22.5 million in acquisition financing; Top four floors - 76,500 s/f of the Montague Pavilion Condo
Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, negotiated a $22.5 million loan for the purchase of ...

Locatell installed as 2015 president of Metro NY Chapter of the Appraisal Institute
Sharon Locatell, MAI, has been installed as 2015 president of the Metropolitan New York Chapter of the Appraisal Institute. President and partner of Appraisers and ...

TWC Business Class expands fiber network to One World Trade Center
Time Warner Cable (TWC) has completed an investment to expand its advanced communications network to One World Trade Center, the 104-story office building that stands ...

Ariel Property Advisors completes sale of four properties for $13.5 million; $6.5 million sale by Shkury, Sozio, Tortorici, Berkowitz and Agbaba
Ariel Property Advisors arranged the sale of the following four properties for $13.5 million: * A five-story, 16-unit multifamily building at 309 West 111th St. in ...

Fetscher elected NY Metro NYSCAR president
NYSCAR revealed the election of Paul Fetscher CCIM, SCLS as president of the Metro Long Island Chapter. Fetscher has been in commercial real estate since 1969. ...

02-28-2015 - Buffalo Multifamily Expo & Trade Show
The Buffalo Multifamily Investment Property Expo & Trade Show 2015, will be held February 28 at the Millennium Hotel (located at 2040 Walden Ave., adj. ...

O. Cohen and E. Cohen of EPIC sell two building package for $12.5 million; Reps seller, 315 East 74th LLC and buyer, A.D. Real Estate Investors
EPIC Commercial Realty arranged the sale of 315-317 East 74th St. on the Upper East Side of the borough. The two five-story buildings are comprised ...

Benchmark Real Estate purchases 194 West 10th Street for $9.3 million
Benchmark Real Estate Group purchased 194 West 10th St. for $9.3 million. The 10,330 s/f property contains 22 residential apartments....

ResiModel adds to growing roster of clients
As it looks to achieve further market penetration in 2015, ResiModel, the only deal management, analytics and valuation platform specifically designed for multifamily transactions, signed ...

Shaban of Besen & Associates sells 288-290 Main Street for $7.74 million; Vasiliadis of Law Offices of Bill Vasiliadis reps seller
Besen & Associates arranged the sale of 288-290 Main St. The property is located on the corner of New St. and Main St., situated in ...

Thor and HGI acquire 16-story 24 West 40th Street
Thor Equities and Harbor Group International, LLC revealed that affiliates of the companies have acquired 24 West 40th St. in the Bryant Park submarket of ...

03-10-2015 - Vishnick McGovern Milizio presents "Avoiding the Pitfalls of Buying Investment Property"
Vishnick McGovern Milizio LLP attorneys James Burdi and John Gordon will present an informative program entitled "Avoiding the Pitfalls of Buying Investment Property" on March ...

Houlihan-Parnes refinances $3.86 million; 61,459 s/f Greenburgh Shopping Center
Houlihan-Parnes Realtors, LLC, revealed the refinancing of a $3.86 million first mortgage on the 61,459 s/f Greenburgh Shopping Center located at 77-97 Knollwood Rd. The ...

Palladium Management renews 48,000 s/f master lease with Monroe College
Palladium Management renewed a master lease totaling 48,000 s/f with Bronx-based Monroe College for the property it owns at 21 Fountain Place. Situated 100 ft. ...

Zimmar of Heritage secures 8,000 s/f at 2 Westchester Park Drive; Lemle of Savills Studley reps tenant
Heritage Realty Services LLC revealed the closing of a new lease with Tortoise Investment Management LLC. Tortoise has leased 8,000 s/f of space for their ...

Julien, Cruz and Scandalios of HFF complete $39.5 million sale; Exclusively reps the seller, Faros Properties, LLC
HFF closed the sale of International Corporate Center at Rye, a class A office property totaling 180,000 s/f. HFF exclusively represented the seller, Faros Properties, LLC, ...

H & O Capital Funding closes 30 loans in 2014
H & O Capital Funding of Bronxville revealed the close of a highly successful year. Having closed 30 loans, ranging from $150,000 to $2.5 million, ...

Kessler named 2015 president of HGAR; Caro named 2015 president of HGMLS
The Hudson Gateway Association of Realtors (HGAR) unveiled Drew Kessler of Wright Bros Real Estate Inc. in Nyack, as its 2015 president, and Leah Caro, ...

GHP reveals $6 million capital program underway at the 220,000 s/f Northern Westchester Executive Park
GHP Office Realty, LLC, a major owner of office, flex and retail properties in the tri-state region, revealed an extensive $6 million capital program is ...

The Hudson Valley apartment market: 2015 leading to strong demand from both tenants and investors
Large national investors are active in the southern Westchester County apartment market. The DSF Group, a private real estate investment firm based in Boston and ...

Could drones help to expedite your insurance claims process in the future?
If you've ever had to file an insurance claim, you should be fairly familiar with the process. An insurance adjuster will come to visit and ...

The Building Owners and Managers Association of Westchester elects 2015 Slate
The Building Owners and Managers Association of Westchester County revealed the election of its slate of officers for the 2015 term. Ian Ceppos of Colliers ...

It Can't Happen Here! Be assured that it can
"Je suis Charlie," French for "I am Charlie" is a slogan adopted by supporters of free speech and freedom of expression after the January 7, ...

The Feil Organization secures 80,000 s/f of leases at 7 Penn Plaza; Turino reps all transactions in-house
The Feil Organization secured the following leases totaling 80,000 s/f to accommodate new and existing tenants at 7 Penn Plaza: TranSystems signed for 6,800 s/f on ...

Sabre arranges 1,050 s/f lease for Blue Bottle Coffee
Sabre Real Estate Group LLC, the metropolitan region's newest retail broker and Pan Brothers Associates has arranged a lease in Park Slope, for a café ...

ERG Property Advisors completes $5.8 million sale
Matthew Murphy of ERG Property Advisors arranged the sale of three residential buildings located at 450, 454, and 458 East 144th St. The subject properties encompass ...

Executive of the Month: Galvis, CEO and founding member of AssetCast: Bringing prices of real estate assets to technology levels; Scientifically proven that firm's method approaches optimality to the largest extent possible
Camilo Galvis is the CEO and a founding member of AssetCast, a quantitative real estate pricing company. AssetCast has developed an innovative approach for pricing ...

Newly formed CREW New York set to enjoy a breakout year; Selected to host the 2016 CREW National Convention
At its first luncheon of the year, CREW New York - one of New York City's largest real estate organizations for women - has been ...

NOI Strategies LLC to join CohnReznick LLP joins
CohnReznick LLP, one of the top accounting, tax, and advisory firms in the U.S., signed a letter of intent to acquire NOI Strategies (NOI), a ...

Cooper-Horowitz celebrates 50 years at Holiday Party
Cooper-Horowitz, Inc. celebrated 50 years at their Annual Holiday Party on December 10, 2014 at Michael Jordan's Steakhouse located in Grand Central Terminal. Over 1000 ...

Stroock & Stroock adds Ziefert as special counsel
According to Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles, Miami and Washington, DC, Jon Ziefert ...

Kennell, Voses, Nassi and Matty join Kaufman Dolowich & Voluck; New partners to firm's Insurance Coverage Group
According to Kaufman Dolowich & Voluck LLP (KDV), one of the leading national law firms, Patrick Kennell, Marc Voses, Steven Nassi and Jeffrey Matty are ...

Ariel Property Advisors hosts Coffee & Cap Rates networking breakfast panel
More than 250 real estate professionals joined Ariel Property Advisors for the firm's recent Coffee & Cap Rates networking breakfast featuring a panel of real ...

Riegel of Rosenberg appointed to Alumni Board of Brooklyn Law School
According to Rosenberg & Estis, P.C., Deborah Riegel, member, was appointed as a member of the Brooklyn Law School Alumni Association board of directors. She ...

Rudes joins C&W as executive director
Wesley Rudes, an industry veteran who is one of Lower Manhattan's most prolific brokers, has joined Cushman & Wakefield as executive director. With 20 years of ...

First Niagara provides $4.35 million loan to North to South Development; Renovation of former Woolworth Store
First Niagara's Commercial Real Estate Group has revealed construction financing for a mixed-use development that has transformed a once vacant landmark building into affordable rental ...

Safina, Chystyakova and Ryan of CPEX Real Estate handle $825,000 sale
CPEX Real Estate's multi-family investment sales team arranged the sale of 228 53rd St. in Sunset Park. The subject property is a 6-unit, 4,320 s/f ...

HFF closes $22.4 million ground sale/leaseback and finances $21 million
HFF closed the $22.4 million ground sale/leaseback and arranged $21 million financing for Holiday Inn Manhattan View, a 136-key, full-service hotel located at 39-05 29th ...

LRC purchases Logistics Pointe for $52.1 million
LRC Properties, LLC, in a joint venture with New York Life Real Estate Investors, has purchased Logistics Pointe Distribution Center. The property, located in Charlotte's ...

Gorjian of Namdar Realty Group secures sale of 11,000 s/f Dollar General
Joel Gorjian of Namdar Realty Group completed the purchase of an 11,000 s/f single-tenant property, leased to Dollar General. The property was formally leased to ...

Tocci breaks ground on $39.5 million Embassy Suites
Tocci Building Companies, a Boston-area construction manager and recognized leader in virtual design and construction solutions, has broken ground on an Embassy Suites Hotel strategically ...

Margules sells South Beach properties for $15 million
New York-based real estate investment firm Margules Properties sold a five-building portfolio of residential apartment buildings for $15 million - more than twice the price ...

Donato, Zanoff, Williams and Leachman of NGKF finance $82.8 million
NGKF Capital Markets arranged $82.8 million in financing for International Place, which is owned by an affiliate of Beacon Capital Partners, LLC. The property is ...

Corte Madera celebrates grand opening of Aimco's Preserve at Marin
Town leaders, business representatives and project partners joined Apartment Investment and Management Company (Aimco) to formally open the Preserve at Marin, a new addition to ...

Arbor Funds $29.8 million coast to coast in Fannie Mae multifamily deals
Alaska Arbor Commercial Mortgage, LLC, a national, direct commercial real estate lender, arranged the recent funding of nine loans totaling $29.8 million across the nation ...

Mandell, Ellis and Arrivo of RKF broker $26 million sale
RKF arranged the $26 million sale of a 22,248 s/f retail property located at 3800 Northeast Miami Court in the city's Design District. RKF's Benjamin Mandell, ...

Hybrid handles $5.3 million in acquisition financing
Hybrid Capital, a New York-based commercial real estate capital advisory firm, arranged $5.3 million in purchase financing for three adjacent multifamily properties. The announcement was ...

Strategic Funding sub leases 15,667 s/f from DeVry University; Blumenthal of Norman Bobrow reps Strategic Funding
Strategic Funding Source, a business finance lender specializing in small businesses, has signed a long-term 15,667 s/f sublease from DeVry University at 120 West 45th ...

Aronson to lead JLL's New York Tri-State prop. management group
JLL has appointed managing director Linda Aronson to lead the firm's property management group in the New York Tri-State market, with a specific focus on ...

H3 Hardy Collaboration signs 10,779 s/f at Rudin Family's 55 Broad Street
The Rudin Family has just completed a full floor office lease with a nationally prominent architectural firm at 55 Broad St. in the lower section ...

Kasowitz counsels Hudson River Park Trust on Pier55 lease deal
Law firm Kasowitz acted as pro bono counsel to Hudson River Park Trust in the negotiation of the Pier55 lease and related security documents for ...

Moinian receives tax abatements for 3 Hudson Boulevard
The New York City Industrial Development Agency (NYCIDA) has formally approved The Moinian Group as being viable to receive tax abatement benefits for 3 Hudson ...

JLL reports record full-year 2014 adjusted earnings per share of $8.69; Up 38% over last year
Jones Lang LaSalle Incorporated reported 2014 adjusted earnings per share of $8.69, up from $6.32 in the prior year. Full-year fee revenue of $4.7 billion ...

Hendey of Houlihan Parnes Realtors, LLC brokers $407,500 sale of 675 Mamaroneck Avenue
Richard Hendey of Houlihan Parnes Realtors, LLC has revealed that the building located at 675 Mamaroneck Ave. has been sold for a price of $407,500. ...

Leslie J. Garfield & Co., Inc. arranges sale of 308 East 81st Street for $5.45 million
Leslie J. Garfield & Co., Inc. arranged the sale of 308 East 81st St., a totally renovated four-story single-family townhouse with a curb cut and ...

Y. Edelkopf of EPIC sells Bay Ridge corner building for $5.55 million
EPIC Commercial Realty arranged the sale of 6803 3rd Ave. in Bay Ridge. The corner lot is home to a vacant mixed-use building consisting of ...

Edelkopf of EPIC secures sale of 171 Bath 17th Street for $3.4 million
EPIC Commercial Realty arranged the sale of our exclusive listing on 171 Bay 17th St. The four-story mixed-use building is situated on the Southeast corner ...

Lieberman, Gervis, and Haft of Meridian Capital Group arrange $31.1 million in permanent financing
Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, arranged a $31.1 million loan for the refinance of ...

Rosenfeld of Meridian Capital Group arranges $20 million in permanent financing for a triple-net leased commercial property
Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, arranged a $20 million loan for the refinance of a triple-net ...

SL Green Realty Corp. increases stake in 1745 Broadway office condo; Becomes majority owner
SL Green Realty Corp., New York City's largest commercial property owner, today announced that it has acquired additional ownership interests in the 674,000 s/f office ...

SL Green and Prudential Real Estate Investors form JV for ownership of Tower 46 condominium units
SL Green Realty Corp., New York City's largest commercial property owner, and Prudential Real Estate Investors, the real estate investment management and advisory business of ...

EVO Real Estate Group brokers 13 transactions
EVO Real Estate Group arranged and concluded 12 Manhattan office and showroom lease transactions and the sale of a commercial co-op unit. The deals include: * ...

Eastern Consolidated arranges 38,000 s/f long-term net lease of Midtown South development site to Chang of McSam Hotel Group
Eastern Consolidated arranged the long term net lease of 111-115 East 24th Street, a 38,000 s/f development site in Midtown South, to hotel connoisseur Sam ...

Monster.com signs long-term 30,000 s/f lease renewal at Charles Cohen's 622 Third Avenue
Monster Worldwide (MWW), the parent company of job searching website Monster.com, is staying at Charles Cohen's 622 Third Ave. for another decade. The company, which ...

Klein of Kalmon Dolgin Affiliates arranges $4.5 million sale on behalf of seller, Red Rock Resources and buyer, Greentown Equities
Kalmon Dolgin Affiliates, Inc. (KDA) has arranged the $4.5 million sale of an 8,000 s/f lot at 180 Concord St. in the Vinegar Hill section ...

Intent Media signs 34,942 s/f lease at Resnick's 315 Hudson Street in Hudson Square
Jack Resnick & Sons has attracted yet another prominent media tenant to its distinctive Hudson Square office building at 315 Hudson St. Intent Media, an online ...

Publicis Groupe signs 580,000 s/f at Rudin Management's 1675 Broadway; Thanhauser and Ogden of Byrnam Wood represent tenant
In a major leasing transaction that reinforces Midtown West's growing appeal to technology, advertising, media and information (TAMI) companies, the Rudin Family has signed a ...

MADGI and Studio aCd Architetti complete 15,000 s/f U.S. headquarters and showroom for Lavazza
The New York City architecture, design, and planning firm of Montroy Andersen DeMarco (MADGI) and the Turin, Italy-based studio aCd architetti have completed the U.S. ...

Treeline, KABR and Long Wharf acquire four floors of 195 Montague Street for $30 million
Treeline, a value-add asset developer, owner and investor throughout the New York metropolitan region, in a joint venture with Long Wharf Real Estate Partners, a ...

Deutch, Sozio and Tortorici of Ariel Property Advisors broker joint venture deal in Harlem
Ariel Property Advisors has brokered a joint venture between St. Luke’s Baptist Church and Azimuth Development Group to redevelop 99-101 and 103-105 Morningside Ave. in ...

Bow and Romeo of The Durst Organization arrange 22,915 s/f lease to Charles Schwab at 1133 Avenue of the Americas
According to The Durst Organization, Charles Schwab & Co. Inc. has a signed an 11-year lease for 22,915 s/f on the 37th floor of 1133 ...