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JLL Capital Markets arranges $215 million loan to refinance Tower 28

Queens, NY JLL Capital Markets has arranged a $215 million loan to refinance Tower 28, a multifamily tower in the Queensboro Plaza neighborhood of Long Island City. The group worked on behalf of Heatherwood Luxury Rentals to place the loan with Morgan Stanley.

Metropolitan Realty Associates and Gordon & Co., secure $23 million from Amherst Capital for redevelopment

Nanuet, NY Metropolitan Realty Associates LLC (MRA) and equity partner Angelo Gordon & Co. LP have secured a $23 million acquisition and construction loan for the repositioning of a former Macy’s department store located at the Shops at Nanuet, a Simon Property Group-operated outdoor shopping center in Hudson Valley. 

Message from the CEO of Bronx-Manhattan North Association of Realtors: The Broker’s Fee Proposal - by Eliezer Rodriguez

On February 21, 2019, councilman Keith Powers proposed Intro. No. 1423. I refer to it as “The Broker’s Fee Proposal.” It’s a Local Law to amend the Administrative Code of the City of New York to limit the fee earned by a real estate licensee to one month’s rent.

Akiva, Salem & Slate of Tri State Commercial Realty collaborate for 1,640 s/f at 839 Broadway

Brooklyn, NY According to Tri State Commercial Realty, Zack’s Dance Loft has signed a 10-year lease at 839 Broadway for 1,640 s/f. Asking rent for this property was $70 per s/f.

Igluu and Insurent JV launch rental platform

New York, NY According to Igluu and Insurent, the firms have formed an exclusive partnership. Igluu, one of the largest NYC rental platforms...

Abramov and Kandkhorov of Asset Commercial Realty Group broker 1,566 s/f

Brooklyn, NY Michelle Abramov and Mark Kandkhorov of Asset Commercial Realty Group’s (AssetCRG) retail leasing team exclusively represented EyeCrafters LLC in its lease negotiations with the Muss Development for 1,566 s/f at 340 Jay St. Muss Development was represented in-house by Ross Spitalnick. 

Madison Realty Capital provides $30.5 million to refinance GEM Hotel

Manhattan, NY Madison Realty Capital (MRC) closed $30.5 million of financing collateralized by the GEM Hotel, a boutique hotel located at 300 West 22nd St. in the Chelsea neighborhood. JLL’s Aaron Appel brokered the financing. 

Denham of Reis, Inc. addresses B’nai B’rith Real Estate luncheon March 13th

Manhattan, NY Barbara Byrne Denham, senior economist at Reis, Inc., addressed the B’nai B’rith Real Estate monthly luncheon meeting, held March 13th, at the Cornell Club. Her topic was “2019 Economic/Commercial Real Estate Overview.” 

The Agency issues REI for redevelopment of former BAE site in Union

Union, NY The Agency has issued a call to the development community to partner on the redevelopment of the former BAE site at 600 Main St. 

Houlihan-Parnes Properties names Cuniberti partner

White Plains, NY According to James Houlihan and James Coleman, Michael Cuniberti has become a partner of Houlihan-Parnes Properties.