BFC Partners develops Toren: 38-story tower to contain 240 units
Downtown's Fort Greene will soon be gaining the iconic presence of Toren, a 38-story, modern condominium of skyline-defining architecture. The 240-unit condo, located at 150 Myrtle Ave., will boast a unique silver-blue aluminum and glass façade. The homes, including studios, one-, two and three-bedroom apartments, will range in size from 442 to 1,967 s/f. The top eight floors of the tower will offer eight one-bedroom, ultra-luxurious penthouse units, and 24 duplex penthouse units of two and three bedrooms, featuring two-story living rooms and views from floor-to-ceiling windows.
"Toren is going to be an exceptional investment for any conscientious buyers seeking great design and value," said Don Capoccia, a partner with Joe Ferrara and Brandon Baron at BFC Partners, Toren's developer. The building was designed by Skidmore, Owings & Merrill.
Toren, striving for silver LEED-certification, will be an eco-friendly building, fully equipped with its own cogeneration plant. This energy-efficient component will generate both heat and power for the entire building and cost less than traditional methods.
Toren features a multi-level roof garden; an outdoor screening area; a 2,000 s/f fitness center; a library/lounge; a two-level attended parking garage; retail space and a 24-hour concierge.
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
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Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent