News:
Brokerage
Posted: July 4, 2017
National Standard Abstract closes $70 million deal for mixed-use project in Queens
National Standard Abstract
Queens, NY Osei Rubie, president and Nadir Rubie, business development executive of National Standard Abstract have closed a sale in the Jamaica neighborhood for $70 million. The project is a mixed-use, mixed-income, residential/community facility/commercial development, and will participate in the NYC Inclusionary Housing Program. The project will contain 162 residential rental units available to households with a range of incomes from 50% AMI to 110% AMI. Up to 33% of such units will be inclusionary housing units. In addition, the project will include 8,500 s/f of community facility space to be used by the First Jamaica CUDC for community programs, and 15,000 s/f of community facility/commercial space proposed to provide health facility or related services to the community.
Tags:
Brokerage
MORE FROM Brokerage
Horvath & Tremblay Announces Strategic Integration of B6 Real Estate Advisors, Expanding New York City Presence
New York, NY Horvath & Tremblay, a premier real estate services firm specializing in investment real estate brokerage, 1031 exchanges, debt/equity placement, and appraisal & valuation services, announced the strategic integration of B6 Real Estate Advisors into the firm’s growing national platform.
Quick Hits
Columns and Thought Leadership
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
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
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
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
