News:
Brokerage
Posted: September 24, 2012
Marzetti of Paul Hastings leads counsel team for Acadia-Washington Square Albee LLC
Paul Hastings LLP represented Acadia-Washington Square Albee LLC, an affiliate of Acadia Realty Trust, as special tax counsel in connection with new markets tax credit financing for its City Point development, a 1.8 million gross s/f transformative retail and residential complex in Downtown's Fulton Mall shopping district.
The $20 million tax credit financing will be used for the retail component of the second phase of City Point's three-phase development. The second phase will include the development of 650,000 gross s/f of retail space as well as almost 700 units of market rate and affordable housing.
The City Point development is expected to revitalize downtown Brooklyn and create thousands of jobs.
Tax partner Philip Marzetti led the Paul Hastings team.
Tags:
Brokerage
MORE FROM Brokerage
AmTrustRE completes $211m acquisition of 260 Madison Ave.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
.jpg)
Quick Hits
.gif)
Columns and Thought Leadership
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
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
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
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,
.gif)