News: Spotlight Content

February

Meyer, Plehn and Hecht of GVA Williams complete 30,000 s/f at 218 West 18th St.; Hillman of CBRE rep'd. Ascent Media in the 10-year lease Rudder and Feinberg of Time Equities, Inc. broker two sales totaling $4.2m; AVS took 3,837 s/f for $2.5m, CEF paid $1.72m for 3,434 s/f NewStar Financial closes $10.76m non-recourse first mortgage for One Merrick Ave., Westbury; NorthMarq Cap. of L.I. is excl. financial advisor Wazihullah of Comm'l. Rlty. Hub brokers three sales totaling $2.195m: $1.26m in Hewlett, $410,000 in Hempstead, $525,000 in Elmont Paneth of GFI Realty Services handles $7.5m sale of 85,000 s/f total consisting of 74 units; firm also sells two Brooklyn bldgs. for $3.395m Gerimici of Locascio Realty arranges 55,200 s/f building sale as part of a 1031 exchange: The six-story property consisted of 49 units Goldflam, Polsinelli and Ross of Besen & Associates complete $11m building sale; 16 East 46th St. contains a total of 30,000 buildable s/f LCOR secures $60.7m construction loan with KeyBank for redevelopment project of 545 Madison; Moed de Armas & Shannon is architect Taconic Inv. Partners and ABR Partners to complete medical office condominium building at 429 East 75th St.; Ball Construction Co. is CM SL Green completes 100 Park Ave.; proj. team includes Tishman Const., Robert Derector Assoc., Gilsanz Murray, Metropolis, Boca Grp. Runko and Nichols of Paragon Prime Funding finance $17.325m for three properties; includes a $10.625m loan for a 92-key Homewood Suites Rupprecht and Gramet of CBRE/Syracuse handle $3.7 million sale of Clay Medical Center in Liverpool; financing by Wells Fargo Finkelstein of JSF Dev. to create $28m Waters Edge in Dobbs Ferryproject with Carol J.W. Kurth, AIA Arc.; Petretti and Carlin-Simpson & Assoc. Itzhaki Properties sells 52,200 s/f, 6-floor elevator building in Brooklyn for $6.9 million; firm also completes the $6.15m for 124 6th Ave. Broadway Partners leases 120,000 s/f at 340 Madison Ave.; Mack of GVA Smith Mack and Ippolito of Newmark Knight Frank rep. tenant Rolett and Himel of Hebert J. Sims & Co. underwrite $296.395m bond for development and construction of The Amsterdam at Harborside Wien & Malkin Strategic Capital acquires $22.25 million mezzanine loan secured by 119 West 40th St., a 333,000 s/f office tower in Manhattan Strategic Capital Partners and Single Tenant Net Lease Advisors sell portfolio for $7.7m, consisting of three buildings totaling 75,421 s/f Sutton & Edwards lease 15,000 s/f in Syossett; Trias, Tsiolis and Damiani of Sutton & Edwards reps. the landlord, C&W represented the tenant Pietrafesa of SVN and Pugliese of TAP Capital represent the seller, for 67,000 s/f Price Chopper Supercenter; transaction part of 1031 exch. Ginsberg of Cohen and Co., Inc. Real Estate handles all-cash sale of Knolls Shopping Center in the Bronx for $10.6 million: 14,522 s/f Holliday, Oliver, Hernandez, Harris of C&W Sonnenblick Goldman arrange $110.3m refinancing; Anglo Irish Bank provides funding Newell of Reilly Mann Newell completes two building sale for $10m; Carlton Management purchased 330 East 73rd St. and 309 East 93rd St. Merlin Dev. creates $21 million project, Mill Condos in Glens Falls; team included Bovis Lend Lease, Engineering America, Gross Elec. Weiner of Meridian finances $3.6m for 180-unit Windsor Place Apartments; Five-year loan negotiated for the borrower, Silver Street Props. Grzebinski of Rose Hill places $3.4m for 104,000 s/f mixed-use development; Mill #3 Building features retail tenants, offices ACC Construction jewels Wall St. with the completion of Tiffany & Co. build-out; a 11,000 s/f renovation finished in less than eight months Lilker Associates provides environmentally friendly building concepts for $120 million mixed-use development in the Bronx
MORE FROM Spotlight Content

Check out NYREJ's Developing Westchester Spotlight!

Check out NYREJ's Devloping Westchester Spotlight!

NYREJ’s Developing Westchester Spotlight  is Out Now!
Explore our Developing Westchester Spotlight, featuring exclusive Q&As with leading commercial real estate professionals. Gain insight into the trends, challenges, and opportunities shaping New England’s commercial real estate landscape.  

READ ON THE GO
DIGITAL EDITIONS
Subscribe
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”.
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

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
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