News: Brokerage

GNYDC provides a total of $1.413 million for two SBA 504 loans

The Greater New York Development Co. (GNYDC) financed $1.413 million and 10,473 s/f of commercial real estate as part of total funding for qualified small business projects. Portchester Market Corp. is a family-run Mexican and Caribbean deli and grocery market selling various deli foods, fruits, vegetables and meats. Carmine Fabio, senior VP financed a $609,000 20-year fixed rate SBA 504 loan as part of a $1.225 million financing package. The company was able to purchase their previously leased 6,620 s/f mixed-use building located at 16 Grace Church St. Dr. Kenneth Cooperman, DMD, PC received an SBA 504 loan amounting to $804,000 as part of a $1.95 million financing package coordinated by Steve Molfetta, VP lending to expand his Bronx-based practice to include the Tribeca area in lower Manhattan. Cooperman purchased a 2,853 s/f professional condo located at 88 Chambers St., Unit 101. An additional 18 jobs are projected over the next two years.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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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 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.
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
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