Ciminelli reveals new name of 465 Washington St. project; The Sinclair
The Sinclair is the name that Ciminelli Real Estate Corp. has chosen for its most recent mixed-use project, located at 465 Washington St. in the downtown. The Sinclair was selected by Ciminelli staff, who researched the building's unique history and that of its surrounding neighborhood.
Constructed in 1909 for Sinclair, Rooney & Co., a local millinery, the building was established as the company's headquarters and production center. Washington St. in the city was bustling with the influx of light industrial activity at the turn of the century - specifically, hat manufacturers - and Sinclair, Rooney quickly became a leader in that industry.
The Sinclair will house 45 apartments as well as 14,000 s/f of first floor and lower level commercial space. Floors two through six will house the market rate apartments, ranging from 600-1,600 s/f. The breakdown of units is as follows:
* Five studio units;
* 30 one-bed/one-bath units; and
* 10 two-bed/two-bath units.
The units will have generous kitchens, closets, and high level finishes. Construction is currently underway, and is expected to be completed in spring 2016.
Headquartered in Williamsville, NY, Ciminelli provides commercial real estate services - including property management, development, leasing, and construction - to over 350 international, national, and local clients in Western and Central New York, Pennsylvania, Connecticut and Florida.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of