Front Section

Question of the Month: Did you know about the new legislation requiring buildings to cut greenhouse gas emissions? - by Paul Gurdak

The Climate Mobilization Act – a package of bills representing an action plan for cutting greenhouse gas emissions across the five boroughs – states that buildings larger than 25,000 s/f must reduce their emissions by 40% by 2030 and by 80% by 2050.

Cohen and Bernstein of Besen Partners facilitate $1.035 million sale

Brooklyn, NY Besen Partners has completed the sale of 3137 Fulton St., a two-story, 3,368 s/f mixed-use building with two apartments and a store. The subject is located in the Cypress Hills neighborhood. Besen Partners exclusively

Savills arranges sale for Lafayette Avenue, LLC

Bronx, NY Savills Capital Markets represented Lafayette Avenue, LLC in the sale of the land underlying the Banknote Building.

Davis of Largo secures two loans totaling $5.3 million

Johnson City, NY Aaron Davis, account executive of the Largo Group of Cos., arranged $5.3 million to refinance the existing debt on two multifamily properties owned by two separate clients.

Bestreich, Davila, Reynolds and Reynolds of BRG close $2.2 million development site sale between Pagnani and Kaufman

Queens, NY Bestreich Realty Group, (BRG) closed the sale of 314 Woodward Ave., located in the Ridgewood neighborhood. This development site was sold for $2.2 million. 

Hudson Valley Property Group buys 311 units for $48.3 million; CBRE Affordable Housing and CBRE’s NY Institutional Group handle sale

Yonkers, NY CBRE Affordable Housing and CBRE’s New York Institutional Group have completed the sale of the 311-unit, affordable housing community known as Parkledge. The property sold to Hudson Valley Property Group

studioBIG designs space for Upper East Chemists

Manhattan, NY Upper East Chemists, a family-owned drug store and neighborhood purveyor of natural health products, has opened at 1401 3rd Ave.

SOCOTEC Group acquires ArchEng, holding company of five legal entities including Vidaris

New York, NY According to SOCOTEC Group, a major player in risk management and asset performance optimization, that on July 22, 2019 it had acquired ArchEng, the holding company of five legal entities: Vidaris, Inc.;

ABS Altman Warwick negotiates $8.5 million loan for Wharton Properties

New Rochelle, NY According to ABS Altman Warwick, a capital market advisory firm and division of ABS Partners Real Estate, they have the closed an $8.5 million loan on behalf of Wharton Properties for its

RP-5217 transfer report can affect future real estate taxes - by John Terrana and Gabriella Botticelli

All real estate lawyers are familiar with the RP-5217 Form. You know the one; that mandatory transfer report that must be filed before a conveyance of real property can be recorded, which lists the property information, the sale price, circumstances of the sale and identifies the buyer.