News: Brokerage

Elite Builders & Management retained by L+M for ornamental steel project at 121 West 125th St.

New York, NY Elite Builders & Management (EBM), a New York-based M/WBE design-build company specializing in ornamental, structural, and miscellaneous steel, has been retained by L+M Development Partners for its transformative mixed-use project at 121 West 125th St., between Adam Clayton Powell Blvd. and Malcolm X Blvd. As a supporting trade contractor, EBM is responsible for the entire miscellaneous and ornamental steel package at the 17-story, 414,000 s/f development, which will feature 170 units of affordable income housing, 110,000 s/f of retail space, 70,000 s/f of class A office space, the new headquarters of the National Urban League, and the Urban Civil Rights Museum Experience.

“This game-changing project is providing multiple levels of opportunities throughout the area and we are honored to be a part of it,” said Christella Xu, president of EBM. “Working in tandem with Super Structure Builders, each stage is being closely coordinated to ensure the work is built and delivered at the same pace.”

For the first stage of the construction, EBM will be responsible for the production and installation of several components, including but not limited to, structural steel canopies, 2,500 linear ft. of guardrails and handrails, and 2,400 ft. of elevator counter-weight guards. All are being fabricated at the firm’s in-house facilities in Queens.

Designed by Beyer Blinder Belle, the work on the development was activated in April 2021. In addition to L+M Development Partners, the development group includes BRP Companies, Taconic Partners, Dabar Development, and the Prusik Group. The projected completion date is late 2023.

MORE FROM Brokerage

AmTrustRE secures 5,754 s/f lease with GKV Architects at 360 Lexington Avenue

Manhattan, NY AmTrustRE has executed a 5,754 s/f lease at its premier boutique Midtown East office tower, 360 Lexington Ave., with longtime partner GKV Architects. The award-winning firm will occupy a portion of the 14th floor. >“GKV Architects has been a trusted partner to AmTrustRE for over two decades, playing an integral role in shaping and elevating several
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

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
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced