News: Spotlight Content

April

Klein of Kalmon Dolgin arranges sale of 35,000 s/f development parcel located at 580 Union Ave. in Brooklyn; transaction valued at $20m Zach and Farchi of Itzhaki Properties collaborate for $19 million sale of 30,000 s/f, 176-182 West 82nd St. in Manhattan; Zach reps. seller Enecon breaks ground on 26,000 s/f, $3.795 million manufacturing facility project at 6 Platinum Ct., South Silver Industrial Park in Medford Schneiderman of NAI Friedland leases 40,000 s/f industrial building at One Hughson Rd. in Carmel; property built by Palumbo Bros. Maffettone of Prudential CRES brokers $3.825m sale of 4.14 acres in Commack for Velocity at Greystone; 79-unit bldg. designed by Newman Horst Design Int'l. completes 6,000 s/f restaurant in Woodbury Village; Nisen Sushi featuring one of Long Island's largest Saki collections Harbor Construction Mgmt. to complete North Shore Professional Ctr.; team includes McClave Eng., R. Shatarah Consulting Eng., TPG Arch. Abudi and Suissa of GFI represent seller, Pikus of Millbrook Properties, in $60m sale of three, six-story buildings totaling 153,786 s/f Chasanoff, Freedman and Jinishian of GVA Williams reps. seller, Beech Haven Corp. in $57m sale of 35,000 s/f building; The LeFrak Org. is buyer TreeTop Dev. completes $7.95m sale of Triangulum in Brooklyn to The Dermot Grp.; Jungreis and Davidson of Rosewood Rlty. were brokers Crystal Window & Door Systems named 2007 Outstanding Minority Business by National Minority Business Council at annual luncheon Muss of Muss Dev. handles $54.5m purchase of 64 West 48th St.; Lauzon of C&W is excl. office leasing agent, Nero of CBRE to market retail United Hebrew Geriatric Center celebrates topping off of 143,000 s/f New Rochelle nursing home; Perkins Eastman is architect, Andron is CM Aries of Urstadt Biddle handles $2.275m acquisition of two retail properties from JPMorgan Chase Bank in Briarcliff Manor and Scarsdale Swig Equities completes repair and restoration of coppered eagle cupola at 324,000 s/f 48 Wall St.; team included GACE, Hoffmann Architects Pergolis, Swartz, Tobin, Volpe and Solinsky of Pergolis Swartz arrange a total of $85.425m; includes a $24 million mortgage by Pergolis Hartman of Wrightwood Cap. structures $15m construction loan for condo building in Manhattan; sourced by Spinner and Shapiro of Meridian Cap. Stewart and Morris of Cronheim Mortgage arrange $30m for Southgate Shopping Ctr.: 139,827 s/f retail center financed with 7-year loan Wachtler Knopf Equities named managing and leasing agent for 250,000 s/f office complex; renovations are planned for the Sterling Equities property Martocci and D'Arcy of M&T Bank and Wildauer of Apollo finance $163.5m loan for the 1.2 million s/f Verizon Building in Manhattan Shkury and Sozio of Massey Knakal sell two buildings totaling $10.5m; Modell of ABS Realty reps. buyer in sale of 647-53 West 174th St. GE Cap. loans $6.3m to True North Development for hotel; 7-story property to be converted into 106-room Town Pl. Suites by Marriott Jeffrey Dunne of CBRE named the firm's top producing investment properties broker worldwide; Dunne and his team closed $4.2b in 2007 Aragon Const. completes 5,700 s/f build-out at 520 East 20th St.; Aragon collaborated with S.M. Berger Arch. and Cetra/Ruddy Agha of Largo completes $6.94m in financing for five multifamily properties including Almar, Northbridge, Silver Lake, and Village Cove NorthMarq completes $29m in financing for developers in Upstate; transactions include $14.9m for two multifamily properties by Berns Shu of Marcus & Millichap Real Estate completes $6.1m shopping center sale in Queens; the 13,515 s/f property was sold by Slope Realty Co. Cooper-Horowitz recently completed a total of $44.05 million in financing; includes an $8.45 million loan by Jeffrey and David Horowitz
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Columns and Thought Leadership
Properly serving a lien law Section 59 Demand - by Bret McCabe

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

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

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

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

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