The Tax Cuts and Jobs Act added Sec. 461(l) which limits the amount of losses from trades or businesses of non-corporate taxpayers that can be claimed on their tax returns. Taxpayers’ who are “real estate professionals” can no longer deduct excess business losses against other non-business income in the current year without limitation as in the past. Manhattan, NY
Cushman & Wakefield has arranged the sale of 51 Spring St., an 8,076 s/f mixed-use building. The final closing price is $10.825 million equating to $1,340 per s/f.
JLL Capital Markets has sold 151 Kent Ave. in the Williamsburg neighborhood for the family of Norman Seidenfeld, Esq., and Zelda Mehl. 151 Kent Avenue Owner LLC acquired the 56,550 s/f residential loft building for $41 million. Queens, NY
Friedman-Roth Realty Services has completed the sale of a commercial building located at 47-02 Queens Blvd. Located in the Sunnyside section, the free-standing property has frontage on three
New York, NY
Enterprise Community Partners, Inc. have launched the Blue Sky Portfolio, a fundraising effort that will work strategically with donors to accelerate the incubation of deeply impactful programs at the earliest stages of development. Modeled after private equity investments that enable the most innovative early-stage companies to access fundingNew York, NY
Adelaide Polsinelli, vice chair of Compass and the newly launched investment sales division, along with Trystan Polsinelli, have been hired to exclusively market "The Royal Court" at 258 West 97th St. The building is located right off the corner of Broadway and...New York, NY
Dennis Someck, executive managing director/principal, and Justin Myers, senior managing director/principal, of Lee & Associates NYC have arranged a 10-year, 11,993 s/f lease for the entire twentieth floor at The Moinian Group's 245 Fifth Ave.Brooklyn, NY
Ariel Property Advisors has facilitated the sale of 124-134 Forrest Street, a leased industrial building and vacant lot in Bushwick. The properties sold for $11.4 million, or $441 per s/f. The 25,840 /f industrial building and 4,990 s/f vacant lot are located between...
Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, sold 35 Pineapple St., an architecturally distinguished, free market, mixed-use corner elevator building in Brooklyn Heights for $15 million.Manhattan, NY
Holliday Fenoglio Fowler, L.P. (HFF) and Hidrock Properties has closed on the $32 million refinancing for 35 West 36th St., a 12-story, 77,880 s/f office building in the Garment District. HFF placed the three-year, floating-rate loan