New York City

Marcus & Millichap brokers two Brooklyn sales totaling $3.29 million; Includes $1.09 million sale by Riney and Greenblatt

Brooklyn, NY According to John Horowitz, first VP - regional manager of Marcus & Millichap, the firm has completed two sales totaling $3.29 million. The first sale was of 230 Saratoga Ave., a 3,361 s/f mixed-use property.The asset sold for $1.09 million.

Kaplan and Arzi of CBRE handle $8.7 million Lower East Side sale

Manhattan, NY CBRE has arranged the $8.7 million sale of 66 Clinton St. and an adjacent land parcel on the Lower East Side. The three-story, 4,340 s/f building and vacant lot were purchased by Vault Development and TLM Equities for planned development of a boutique residential property.

Avison Young arranges 4,750 s/f lease to SharesPost

Manhattan, NY According to the New York office of Avison Young, a new five-year, 4,750 s/f lease has been completed for SharesPost Inc. on the 27th floor of Tower 45, the 458,446 s/f class A office tower located at 120 West 45th St. 

Waller of ABS brokers 3,500 s/f Brooklyn lease

Brooklyn, NY ABS Partners Real Estate has brokered a 3,500 s/f lease to School of Rock at 300 Graham Ave., a 25-unit condo building. ABS' Ben Waller represented the ownership, Gloveman LLC, while Harry Safter of Jonathan Barry Associates acted on behalf of the tenant.

CoreNet NYC hosts 2019 Annual Dinner; Attended by 800 professionals and held at American Museum of Natural History

Manhattan, NY CoreNet Global New York City chapter (CoreNet NYC) hosted its sold-out 2019 Annual Dinner on May 2nd at the American Museum of Natural History located at Central Park West & 79th St. 

Zeccardi joins Cresa as senior vice president, project management

Manhattan, NY Cresa welcomed industry leader Ronald Zeccardi as senior vice president, project management. Zeccardi, who will be based in the NYC office, joins a team led by James Pirot, managing partner. In addition, he will be working with Cresa's Integrated Control Solutions group...

How the limitation on Excess Business Losses affects real estate professionals - by Sandy Klein

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.  

Burton, Shapiro, Carrozzo and Sutton of Cushman & Wakefield complete $10.825 million NoLita sale

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.

Maddigan and Stanton of JLL broker $41 million sale

Brooklyn, NY 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.

Niblock of Friedman-Roth arranges $2.7 million sale

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