News: Brokerage

Blumenfeld Development Group extends lease with Marshalls at East River Plaza – 34,000 s/f

Manhattan, NY According to The Blumenfeld Development Group, (BDG) Marshall’s department store has extended its lease with East River Plaza for another 10 years, active from 2021 to 2031. 

The retailer occupies 34,000 s/f in the East Harlem complex and has been an original tenant of the space since East River Plaza opened its doors to the public in 2009.

In addition to Marshall’s, East River Plaza houses such national brands as:  Costco, Target, Burlington Coat Factory, Aldi, Bob’s Discount Furniture, Planet Fitness, Applebee’s and more. 

“We are thrilled that Marshall’s, one of our original tenants, will be with us for another 10 years at East River Plaza. They have been a great partner from the very beginning and we know they will continue to serve our community well,” said David Blumenfeld, vice president, BDG.

East River Plaza and its tenants have taken extreme safety precautions and 10 retail tenants, including Marshall’s are now open, all adhering to CDC guidelines regarding COVID-19.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,