Robert Ranieri, senior vice president/managing director of NorthMarq Capital's Greater Westchester NY/CT based regional office arranged the $16 million refinance of Wallington Plaza, a 92,823 s/f retail property located at 375 Paterson Ave. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged ground-lease financing for the borrower through its relationship with a regional bank. Shoprite Supermarket represents the property's major tenant.
"The bank delivered an excellent quote based on a 25-year ground lease to a newly opened Shoprite," said Ranieri.
Middle Island, NY Roger Delisle and Robert Monahan of Island Associates negotiated the lease for the Giunta’s Meat Farms to occupy 45,000 s/f at Strathmore Commons.
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,
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
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.
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