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Amato and Kontis of TEK Realty Advisors sell Long Island City multifamily for $1.835 million

Queens, NY TEK Realty Advisors LLC (TEKRA) has facilitated the sale of 34-32 43rd St., a value-add multifamily building in Long Island City. The all-cash transaction was valued at $1.835 million, which equates to or $339.81 per s/f or $305,833 per unit. 

Gang, O’Toole & Waldman of Lee NYC execute lease for BerlinRosen: 7,000 s/f

Manhattan, NY Gregory Gang, executive managing director/principal, Catherine O’Toole, executive managing director/principal, and Ari Waldman, director of Lee & Associates NYC have arranged a six-and-a-half-year, 7,000 s/f sublease on the fourth floor at 15 Maiden Ln. for BerlinRosen.  The public relations and strategic communications firm is already an anchor tenant at

Meatpacking Business Improvement District appoints LeFrancois new executive director

Manhattan, NY According to the Meatpacking Business Improvement District (BID), it has appointed longtime BID leader Jeffrey LeFrancois as its new executive director. LeFrancois was unanimously approved to replace Lauren Danziger on the BID’s board of directors…

Difference between market value and assessed value? - by David Wilkes

The determination of one of the largest annual costs of New York real estate ownership, the property tax, is often poorly understood by even the most sophisticated real estate professionals. The result is that many property owners inadvertently pass on opportunities to reduce their operating expenses. 

JLL completes 123,516 s/f lease for TransPerfect global headquarters with global holdings management at 1250 Broadway

Manhattan, NY JLL has completed a 15-year lease totaling 123,516 s/f with TransPerfect for Global Holdings Management Group’s NOMAD Tower, 1250 Broadway. TransPerfect will relocate from 3 Park Ave. to occupy space on five full floors, including

The Agency | Broome County IDA/LDC holds “Opportunity Zones Primer” Jan. 22nd

Binghamton, NY The Agency|  Broome County IDA/LDC provided a first glimpse of Broome County, NY’s six Opportunity Zones during a presentation on January 22nd, 2019.   An “OZ Primer” was provided by  Harris Beach, PLLC and Insero & Co. CPAs, LLP. Over 100 developers, community members and investors attended the event.

GFI Realty completes two Brooklyn sales totaling $18.4 million

Brooklyn, NY GFI Realty Services, LLC has completed the following sales:  • The $10.4 million sale of 2031 and 2233 Ocean Ave. • The $8-million sale of 1865 77th St.

Nassau IDA approves economic incentive package for proposed 40,000 s/f Acutis Diagnostics lab

Mineola, NY According to Nassau County executive Laura Curran, the Nassau County Industrial Development Agency (IDA) has approved a package ...

Using LLCs for succession planning - by Thomas Kearns

The banks that give commercial mortgages and the institutions that invest equity into commercial real estate transactions always impose controls over the identity of the individuals who manage the borrower/joint venture. The controls include restrictions on transfers of controlling economic interests and on which individuals can exercise the management rights of the developer in the deal.

Futterman of Newmark Knight Frank speaks at February 12th YM/WREA lunch

Manhattan, NY The Young Mens/Womens Real Estate Association (YM/WREA) held their monthly luncheon at The University Club, One West 54th St., College Hall (Main Floor) on February 12th. The speaker was Robert Futterman, chairman, Retail Leasing Division, Newmark Knight Frank (RKF).