News: Owners Developers & Managers

AFC Realty Capital's 2056 Fifth Avenue welcomes first residents

The first residents are set to begin moving into 2056 Fifth Avenue, the new luxury condominium residence created in a historic Beaux Arts building in New York City's Harlem. With closings scheduled throughout the summer, 2056 Fifth Avenue is poised to quickly fulfill its promise of becoming a unique and sought-after residential address in this celebrated New York City neighborhood. "2056 Fifth Avenue has captured a niche in the marketplace by offering buyers a distinctive alternative to what is commonly found in the area," said Jessica Armstead of The Corcoran Group, the building's exclusive sales and marketing agent. "The building's former use as a church has allowed us to create a unique living experience highlighted by magnificently renovated residences with loft-like interior spaces, soaring ceilings and oversized windows, an incredible vaulted lobby and a residents-only landscaped courtyard. The result is a best-of-both-worlds scenario that combines old world charm with modern amenities and features." Situated along one of New York City's most recognizable Avenues, the upscale Rhapsody on Fifth condominium building is a collection of duplex, garden and penthouse homes. Located on the top floor of 2056 Fifth Avenue, the penthouse homes boast large, floor-to-ceiling windows - easily blending the charm of the historic Harlem surroundings with the allure of their modern and well-appointed interiors - and an abundance of outdoor space to provide exceptionally dramatic views stretching from Yankee Stadium to the George Washington Bridge. To create its unique living environment, the developer of 2056 Fifth Avenue has carefully maintained the building's brick and limestone exterior facades to sustain one of the most beautifully detailed structures remaining in New York City today. Inside, a complete rehabilitation will create luxurious condominium spaces lined with the latest in fine appointments and upscale amenities.
MORE FROM Owners Developers & Managers

Rudin to welcome Corpay at 560 Lexington

Manhattan, NY Rudin inked a new 11-year office lease with Corpay, Inc.’s. Cross-Border business at 560 Lexington Ave., its 22-story office tower in the Plaza District. Corpay Cross-Border Solutions, which specializes in foreign exchange, global payments and risk management, will relocate its headquarters to 560 Lexington this fall.
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New York City’s historic rent freeze now rests with the courts - by Ron Cohen

New York City’s historic rent freeze now rests with the courts - by Ron Cohen

New York City’s first-ever two-year rent freeze is now in the hands of a state Supreme Court judge, and the decision could reset income for owners of roughly one million rent-stabilized apartments housing some 2.4 million residents.
Don’t leave severance damages behind - by Sebastian Jablonski

Don’t leave severance damages behind - by Sebastian Jablonski

When the government takes a portion of a landowner’s property, most assume just compensation stops at the value of the land taken. However, in partial takings, that is only half of the equation.
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by  Ron Cohen

NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by Ron Cohen

New York City’s Community Opportunity to Purchase Act (COPA) is back, and this latest version could have a much better chance of becoming law. The proposal would give qualified nonprofit organizations