News:
Spotlight Content
Posted: December 19, 2017
2017 Year in Review: Anthony Subraj, Zara Realty
Name & Title: Anthony Subraj, Vice President
Company Name: Zara Realty
Address: 166-07 Hillside Avenue, Jamaica, NY 11432
What was your most notable project, deal, transaction or professional achievement in 2017?
As part of the surge in development in Jamaica, Queens, Zara Realty closed on what will become a luxury residential complex near Rufus King Park. The 18-unit, seven-story building on 89th Ave. between 172nd and 173rd Sts. will feature a gym, two rooftop terraces with recreational space, a lounge with free wi-fi, washer-driers in every unit and a 24/7 concierge. There will be a garage for residents. It is part of a development boom in Jamaica that is expected to bring 2,000 housing units and 1,500 hotel rooms over the next few years, according to the Greater Jamaica Development Corp.
What was the best decision you made in 2017 and why?
Our decision to continue investing this community, where we are based and where we have never sold a building. As a family-run business, we have been a part of the transformation of Jamaica from the beginning. This community has seen generations of immigrant families, like ours, arrive and make their mark. It is exciting to know we will continue to be part of the great success story in Jamaica. With plans for a $65 million renovation of Jamaica Center, this area will be a gateway, with public transit infrastructure and links to Kennedy Airport, and a destination.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
.gif)