News:
Owners Developers & Managers
Posted: October 15, 2024
IREM NYC attends groundbreaking ceremony for $143.4m development
Brooklyn, NY On September 19th, members of IREM NYC were happy to attend a groundbreaking ceremony for the new Catholic Charities Gail P. Duke Senior Residence. This incredible honor bestowed upon long-time IREM NYC member Gail Duke, CPM is the pinnacle of her lifelong commitment to service.
This $143.4 million development will provide 141 units of affordable sustainable apartments for low-income seniors with supportive services in the Brownsville section of Brooklyn. A 10,000 s/f older adult center will be on the ground floor. The project will also include all-electric heating, cooling, and hot water systems, adhering to Passive House sustainable design standards. It will also provide backup generator power for cooling, sheltering in place, and other emergency needs. The commitment that Catholic Charities of Brooklyn and Queens has shown in developing affordable housing for our most vulnerable populations exemplifies the many good works and projects they have undertaken over the past 125 years of service.
IREM is so proud of Gail, and the incredible honor bestowed upon her by the Catholic Charities Progress of Peoples Development.
MORE FROM Owners Developers & Managers
Rudin to welcome Corpay at 560 Lexington
Manhattan, NY Rudin inked a new 11-year office lease with Corpay, Inc.’s. Cross-Border business at 560 Lexington Ave., its 22-story office tower in the Plaza District. Corpay Cross-Border Solutions, which specializes in foreign exchange, global payments and risk management, will relocate its headquarters to 560 Lexington this fall.
Quick Hits
Columns and Thought Leadership
NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by Ron Cohen
New York City’s Community Opportunity to Purchase Act (COPA) is back, and this latest version could have a much better chance of becoming law. The proposal would give qualified nonprofit organizations
Don’t leave severance damages behind - by Sebastian Jablonski
When the government takes a portion of a landowner’s property, most assume just compensation stops at the value of the land taken. However, in partial takings, that is only half of the equation.
Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt
In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
New York City’s historic rent freeze now rests with the courts - by Ron Cohen
New York City’s first-ever two-year rent freeze is now in the hands of a state Supreme Court judge, and the decision could reset income for owners of roughly one million rent-stabilized apartments housing some 2.4 million residents.
September Promotion
