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Rosenberg & Estis, P.C. acts as legal counsel to Durst Org. in $900 million refinancing of 151 West 42nd St.

Manhattan, NY Rosenberg & Estis served as legal counsel to The Durst Org. in connection with the $900 million refinancing (as well as the related defeasance of the prior existing mortgage)

Outside the Region: Cronheim Mortgage secures five loans totaling $27 million for self-storage properties

Chatham, NJ Cronheim Mortgage secured five separate, uncrossed bridge loans for self-storage facilities in Texas, Arizona, Ohio, Michigan and Missouri. Collectively the five properties represent 600,000 s/f and 3,745 class A self-storage units.

Lee NYC closes $32.2 million parking garage sale with Mequity Cos.; Zucker Org. is seller

Manhattan, NY Sidney Rosenthal, executive managing director/principal, Steve Lorenzo, principal, Mitchell Salmon, executive managing director, and Christopher Ventura, associate director, of Lee

Outside the Region: Hines breaks ground on The Preston with partner Cresset-Diversified QOZ

Houston, TX Hines, along with investment partner Cresset-Diversified QOZ Fund, commenced the start of construction on The Preston, a 373-unit for-rent residential high-rise community located in

The Opportunity of Opportunity Zones - by Justin Rostoff

The Tax Cuts and Jobs Act of 2017 created what are known as Opportunity Zones. The benefits of Opportunity Zones, if structured correctly, are three-fold: 1. Defer taxes on recognized capital gains until 12/31/26; 2. Decrease the taxable capital gains by up to 15%; and…

Goldflam of Highcap Group chosen to sell 2,079-acre Lost Lake Resort in Monticello

Monticello, NY According to Josh Goldflam, co-founder & principal of Manhattan-based investment sales firm Highcap Group, he has the exclusive listing for the sale of the property known as Lost Lake Resort. The property is located 90 minutes north of Manhattan

Goldflam of Highcap Group leads team in sale of 73,000 s/f Bronx development site for $3.95 million

Bronx, NY Josh Goldflam, co-founder and principal of Highcap Group, with associates Lou Corti, Guy Vardi, and Andrew Tamayo, have arranged the $3.95 million  sale of 1746 Andrews Ave. South. The seller was Andrews Development Corp.

Friedkin Realty Group acquires two Long Island multifamily complexes for $150.5 million

Mineola, NY Friedkin Realty Group has closed on the $150.5 million purchase of two residential complexes.  Friedkin Realty Group bought the five-story, 275-unit apartment complex formerly called…

Romer Debbas names Kirkpatrick a partner, welcomes Nguyen and Peters as new associates

New York, NY According to Romer Debbas LLP,  attorney Steven Kirkpatrick has been named a partner. The firm has also expanded its agency lending practice led by partner Christian Daglieri, Esq. with the recent hiring of two new associates, Christina Nguyen and George Peters.

The Wizard of OZ (that’s “Opportunity Zones”) Part 2 of OZ vs. 1031: Required holding periods - by Dan Flanigan

There is no defined holding period requirement for the property acquired in a 1031 exchange, although the IRS has taken the position that a disposition shortly after the 1031 could invalidate the 1031 transaction because the replacement property is not considered to be held for investment or for use in a trade or business…