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.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.
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.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.
New York, NY According to Igluu and Insurent, the firms have formed an exclusive partnership. Igluu, one of the largest NYC rental platforms...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. 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. 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 has issued a call to the development community to partner on the redevelopment of the former BAE site at 600 Main St.
White Plains, NY According to James Houlihan and James Coleman, Michael Cuniberti has become a partner of Houlihan-Parnes Properties.