Category: Brokerage

New York, NY Real estate private equity firm Urban Standard Capital (USC) has released a new strategy to deploy $100 million in gap financing, or rescue capital, including senior stretch financing, mezzanine and preferred equity for borrowers facing a financing gap. USC, which has over $600 million of real estate equity and debt investments, is known as the “certainty bid” in the middle market, one of few firms with committed, discretionary balance sheet capital.

Queens, NY Josh Goldflam, co-founder & principal of Manhattan based commercial real estate firm Highcap Group, has arranged the sale of 47-07 Broadway, for $11.1 million. The building and lot are located in the Astoria neighborhood.

Yonkers, NY Jeremiah Houlihan of Houlihan-Parnes Properties has arranged for first mortgage financing in the amount of $350,000 for the refinancing of a 3-story wood frame five family house built in circa 1930 with a small extension on the 1st floor, backyard and six outdoor parking spaces, located at 379 Sommerville Pl.

Long Island City, NY Innovo Property Group (IPG) celebrated the topping out of its newest mixed-use project, The Borden Complex. Located at 23-30 Borden Ave., the development broke ground during Summer 2022 and is expected to finish construction in Spring 2024.

New York, NY Olshan Frome Wolosky LLP has hired Siobhan Green as a partner in the firm’s real estate practice. Green brings over two decades of experience in commercial real estate leasing transactions, representing clients in all aspects of the leasing process, from providing advice to clients at the term sheet stage to effectively negotiating leases to conclusion.

In today’s highly competitive commercial real estate industry, companies are constantly seeking ways to stand out in the crowded marketplace. With the growing importance of an online presence and digital marketing, many businesses are turning to innovative technologies to gain an edge over the competition.

Yonkers, NY ERG Commercial Real Estate has sold two adjacent multifamily buildings for $4.55 million. The four-story buildings, at 502 and 508 Van Cortlandt Park Ave. in the McLean Heights neighborhood, feature 46 units, totaling 38,948 s/f. The buildings were built in 1927 and 1922.

Brooklyn, NY Verada Real Estate has signed So Gold Studios to a 10-year lease for 1,200 s/f relocating to 448 Humboldt St., two blocks from their current home. The landlord, Investmates, a privately-held real estate investment and development company headquartered in Williamsburg, and a local boutique development company put their desire for exceptional design to fruition by bringing this exciting new addition to the neighborhood.

Manhattan, NY Hudson Square Properties has arranged the 10-year lease for global fashion brand ESPRIT, a 38,257 s/f office on the 11th and 12th floors of 160 Varick St. in the Hudson Sq. neighborhood. The space will serve as the headquarters for the brand’s global design, branding, creative, and marketing efforts.

Whitestone, NY Cushman & Wakefield has arranged the sale of The Whitestone Assemblage for $12.1 million. Whitestone Assemblage is located at 151-11 6th Rd., the site is an industrial outdoor storage (IOS) asset with a total lot footprint of 4.6 acres, including 1.5 acres of riparian water rights.

New York, NY Okada & Company (Okada & Co.) has hired three new team members: Alex Fleischman as director of business development, Kanuka Mareddy as assistant construction manager, and Avery Reavill as associate director. Fleischman is responsible for setting goals and developing strategic plans for both new business opportunities and revenue growth for the company.

Queens, NY Affiliates of Cantor Fitzgerald, L.P. and Silverstein Properties have completed the latest closing of construction financing for 44-01 Northern Blvd., a project that Cantor Silverstein Opportunity Zone Trust, Inc. is invested in. Cantor Fitzgerald and Silverstein arranged a $165 million construction loan from Banco Inbursa for the development of a 354-unit multifamily property located on a 63,000 s/f lot in the Astoria neighborhood.