News: Owners Developers & Managers

Ekstein Development to complete 57-unit condominium - The Foundry

In the emerging and trendy neighborhood of Hunters Point, a new condominium, The Foundry, is poised to launch sales. The four-level new construction clad in brick will house 57 residences and include more than 21,000 s/f of outdoor space. The Foundry is designed by GF55. "The Foundry will be a unique addition to the vibrant Long Island City community, with its versatile floor plans and luxury amenities," said Erik Ekstein, principal of Ekstein Development. "We rarely see projects with so much outdoor space, and Hunters Point is the ideal neighborhood for such a feature, given its picturesque environment," said Andrew Gerringer, managing director of Prudential Douglas Elliman Development, the exclusive sales and marketing agent for the project. Innovative floor plans range from traditional duplexes and simplexes to loft-like units, with high ceilings, city views and natural light. "Our premium residences, with expansive outdoor space and a lavish array of fixtures, are another offering that sets The Foundry apart from other projects," said Adriana Acedo, vice president of development for Ekstein Development.
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New York State Homes and Community Renewal finish $32 million affordable development

Union, NY New York State Homes and Community Renewal commissioner RuthAnne Visnauskas have completed the Homesteads on Grand, a $32 million, 72-unit mixed-use affordable and supportive development in Johnson City, Broome County.
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Columns and Thought Leadership
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
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
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.