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MBD Community Housing honored by NY Housing Conference 2018 Non-Profit of the Year Award

Bronx, NY MBD Community Housing Corp., a leading community organization devoted to increasing affordable housing opportunities and improving the quality of life in the borough, has received the New York Housing Conference 2018 Non-Profit of the Year Award.

Cahill of JLL secures 10,000 s/f for Quentis Therapeutics at the Mink Building in West Harlem

Manhattan, NY JLL completed a new transaction for Quentis Therapeutics at 1361 Amsterdam Ave., also known as the Mink Building, in the West Harlem neighborhood with Janus Property Co. The cancer immunotherapy startup firm signed a lease for 10,000 s/f of laboratory and office space.

Savills Studley signs Harman International for 11,000 s/f at 19 West 44th St.

Manhattan, NY Savills Studley completed a new office lease for Harman International, a Samsung company.  Savills Studley’s Christopher Foerch represented Harman with Los Angeles-based colleague Marcus Arredondo, who works with Harman globally. The landlord, Savanna, was represented by JLL’s Mitch Konsker, Ben Bass, Barbara Winter and Kip Orban.

Vanguard-Fine joins Retail Broker’s Network

Albany, NY According to Vanguard-Fine, LLC, the firm has joined the Retail Broker’s Network as the broker affiliate for Upstate New York.

Houlihan Lawrence’s Commercial Group completes three sales totaling $3.58 million

Port Chester, NY Houlihan Lawrence’s Commercial Group has completed three commercial sales in Westchester totaling $3.58 million.

The Wizard of OZ – (that’s “Opportunity Zones”) Dorothy still has some questions - by Dan Flanigan

Capital gains invested in opportunity zones are required to remain at risk for 10 years. Traditionally, real estate investors can extract invested capital and even profits tax-free in properly structured financing transactions before the ultimate sale of the property. Will qualified opportunity funds (QOFs) or qualified opportunity zone businesses (QOZBs) be allowed to refinance their portfolio properties before expiration of the 10-year period and distribute the proceeds to investors without jeopardizing opportunity zone benefits? 

Investment Sales: You can have the luck, I’ll take the work - by Tim Serignese

Is it good luck or good timing? Does good timing happen in the gaps between bad timing and ok timing? What is luck?  Is it when you reach a desired goal or outcome with a fraction of the effort that you thought it would take? For instance, your intern starts to prospect on the phone and contacts a “ready, willing and able” seller on her third call. After you braced her for hours of dialing. Is that luck? 

Polsinelli and Goldstick of Compass arrange Greenwich Village sale

Manhattan, NY Adelaide Polsinelli, vice chair of the newly launched investment sales division at Compass, along with and Mitchell Goldstick, have arranged the sale of the entire retail component and parking garage located at 44-58 East Eighth St., the main retail strip in the Greenwich Village neighborhood. 

Wright and McManus join Capell Barnett Matalon & Schoenfeld LLP

New York, NY According to Capell Barnett Matalon & Schoenfeld LLP, Christopher Wright has joined the firm as counsel and William McManus has joined as an associate. 

Outside the Region: Eyzenberg & Co. arranges $30.5 million refinance

Baton Rouge, LA Eyzenberg & Co. has secured a $30.5 million Fannie Mae conventional multifamily loan to refinance a 224-unit apartment c...