News: Brokerage

Phillips of Largo Capital arranges $70 million for Buffalo redevelopment

 

 

Buffalo, NY Jack Phillips, principal at the Largo Group of Cos., secured $70 million in construction to permanent financing for the redevelopment of the Trico Plant #1 building located downtown.

This highly visible and iconic building is listed on the National Register of Historic Places and will be adaptively reused as a mixed-use project featuring apartments, covered parking and office space. The modern windshield wiper was invented by John Oishei in the city, and this plant was the manufacturing facility for the first automobile wipers.

This project is located on the southern end of the Buffalo Niagara Medical Campus (BNMC) and benefits from its centralized location near Interstates 90 & 190 and The Kensington Expressway.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,
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,

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