News: Brokerage

Konover completes first phase of Paradise Plaza

Konover Development Corp. recently completed the first phase of the redevelopment of the former Erie Blvd. Hechinger Plaza. The new center, called Paradise Plaza, is home to three new tenants. The first and master tenant, Paradise Cos. 2, opened Paradise Market, a 70,000 s/f indoor marketplace with over 200 vendors. The second prospective new tenant is a 30,000 s/f antique mall that would take the place of the former Price Chopper. And third, Empire Buffet, a Chinese take-out and buffet style restaurant, will occupy over 10,000 s/f and is scheduled to open at the end of the month. Existing tenant, Factory Card Outlet, extended its current lease. Konover Development Corporation specializes in retail real estate development throughout the Northeast and Mid-Atlantic states. Konover is one of the region's most active developers, with numerous new projects currently in various stages of development for national and regional retail clients. Konover partners with communities to foster understanding and consensus for every new project. This spirit of cooperation has been successful in achieving the right balance of client and community needs for over 50 years. Paradise Market is a one-of-a-kind, upscale, marketplace facility located in Dewitt, NY. It features over 250 single vendor spaces for both start-up and small businesses. It offers a regional farmer's market-type atmosphere for vendors, food service and entertainment.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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,

Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
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