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Arrow Real Estate Advisors secures $125 million for 45-40 Vernon Blvd. development
May 13, 2025
Queens, NY Arrow Real Estate Advisors secured a $125 million construction loan on behalf of Z.D. Jasper Realty for the luxury residential condominium at 45-40 Vernon Blvd. in Long Island City. The financing was secured by Arrow Real Estate Advisors’ Morris Betesh, founder and managing partner,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Dosh...
May 13, 2025
Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
Resolution Real Estate arranges 8,884 s/f long-term lease at 32 Union Sq. East
May 13, 2025
Manhattan, NY Mitchell Cooperstock, executive director/leasing, and Brett Weiss, director/leasing of Resolution Real Estate, a member of NAI Global, have arranged a 15-year lease for a full-service eye care practice Union Square Eye Center LLC at 32 Union Sq. East.
JRM Construction completes 5,400 s/f Wellness Center at the Hospital for Special Surgery
May 13, 2025
Manhattan, NY JRM Construction Management has completed the Wellness Center at the Hospital for Special Surgery (HSS). The 5,400 s/f facility provides holistic wellness solutions for HSS’s employees – offering an inviting space that addresses healthcare worker burnout and promotes both mental and physical wellbeing.
Port Authority, Realterm, and Worldwide Flight Services celebrate
opening of $270m cargo handlin...
May 13, 2025
Queens, NY The Port Authority of New York and New Jersey, in partnership with Realterm and Worldwide Flight Services (WFS), celebrated the opening of a new $270 million consolidated cargo handling center at John F. Kennedy International Airport (JFK). As the first new cargo facility at JFK in 25 years, this new cargo center will consolidate operations from four separate cargo zones
Memoirs of a Watch Salesman: A NYC Real Estate Story - by Joseph Aquino
May 13, 2025
From the streets to the boardrooms: A journey through grit, deals, and redemption. This year marks my 40th anniversary in commercial real estate. To celebrate this milestone — and to set the record straight on some of the ups and downs
Qualified Opportunity Zones: Where are they now? - by Sandy Klein
May 13, 2025
To be eligible for the unique tax benefits associated with making a QOZ investment, on or before Dec. 31, 2026, a taxpayer must first realize eligible capital gain on a sale to an unrelated party. The taxpayer then has 180 days – potentially from three different starting points, depending on whether the gains were realized directly or indirectly (see below) – to invest cash equity
Queens and Brooklyn lead the surge in small-scale multifamily development - by William Gati
May 13, 2025
At Architecture Studio, we are committed to designing structures that meet the evolving needs of our communities. Our work is driven by a progressive design vision that seamlessly integrates form and function while aligning with the latest housing initiatives to provide the most appropriate, efficient, and responsive housing solutions. Our firm is responding to the city’s housing
The Southern Tier is wired for growth. It’s time to plug in - by Stacey Duncan
May 13, 2025
For decades, the Southern Tier has wrestled with economic decline. Since 2000, Binghamton has lost 6,500 manufacturing jobs — a staggering 37% reduction — as losses also piled up down the road in Elmira (19% decrease) and Ithaca (25% loss). What’s more alarming is witnessing local pride fade under the weight of
Public policy effects on real estate, part two - by John Rynne
May 13, 2025
My January article was titled Public Policy Effects On Real Estate. Little did I know, within a few months that the tariff policy controversy would be so significant so quickly. Its effect on the stock market was significant but even more so on the bond market. Since April 1st the 10 year treasury increased by 48 basis points when I was writing this article. Everyone has some
Essential considerations for evaluating 1031 exchange replacement properties - by Michael Packman
May 13, 2025
As a real estate investor seeking to optimize your portfolio, the 1031 exchange represents a powerful strategy that may allow you to defer capital gains taxes while transitioning to properties better aligned with your investment goals. Whether you’re aiming to scale your real estate holdings or reduce management responsibilities through ownership structures like Delaware Statutory Trusts
NYC property owners: RPIE filing deadline is June 2 - non-compliance carries steep penalties - by Pe...
May 13, 2025
If you’re a New York City real estate owner, the only thing more annoying than your allergies may be the legally mandatory RPIE (Real Property Income & Expense) filing that is due no later than June 2nd this year. The RPIE is required annually because NYC utilizes an income and expense approach to value when establishing annual assessments for tax class 2 & 4 parcels.
Connelly joins Romer Debbas as partner
May 13, 2025
East Hampton, NY Robert Connelly, Esq. has joined Romer Debbas LLP as partner and head of its local real estate and zoning practice. Most recently he served as attorney for the town of East Hampton and principal of Connelly Law, PLLC, he comes to the firm with over 20 years of real estate, land use and municipal law experience.
DGNY Property Management awarded AMO accreditation by IREM
May 13, 2025
Melville, NY DGNY Property Management LLC has earned the AMO (Accredited Management Organization) accreditation from IREM (Institute of Real Estate Management). In doing so, DGNY Property Management joins an exclusive group of more than 500 real estate management companies worldwide that have met the requirements to earn this distinction.
Levin leases 24,000 s/f to Kids Empire and My Gym at Mayfair Shopping Center
May 13, 2025
Commack, NY Two family-friendly concepts are joining Mayfair Shopping Center according to Levin Management Corp. (LMC). Indoor playground Kids Empire (21,000 s/f) and children’s fitness center My Gym (3,000 s/f) each will enhance the retail property’s experiential draw.
State supreme court justice dismisses Valley Stream School Districts’ Green Acres Mall lawsuit
May 13, 2025
Hempstead, NY Fred Parola, CEO of the Town of Hempstead Industrial Development Agency (IDA), said that a Nassau State Supreme Court justice has dismissed a lawsuit brought by four Valley Stream school districts seeking to overturn five-year extensions of tax breaks provided by the IDA to the owner of Green Acres Mall and an adjacent shopping center.
Easterly Group and CRA Realty lease 2,750 s/f at 200,000 s/f Crossroads Corporate Center
May 13, 2025
Hauppauge, NY Easterly Group LLC and CRA Realty brokered a long-term class A office lease at Crossroads Corporate Center. Ace Consulting Partners Inc., a merchant cash advance firm providing funding to businesses of all types across the country, leased 2,750 s/f of office space at 1383 Veterans Memorial Hwy.
Americans with Disabilities Act (ADA) - by Edward Smith Jr.
May 13, 2025
As real estate agents and brokers we need to know the ADA laws that pertain to our business. We may also need to educate our clients and others about these regulations. The intention is to make buildings and other things accessible to people with disabilities. The Americans with Disability Act is a Civil Rights Law, which is enforced by the US Department of Justice. It focuses on various
Raffa of Island Associates Real Estate sells 2,610 s/f mixed-use
May 13, 2025
Massapequa, NY Robert Raffa of Island Associates Real Estate negotiated the sale of 1148 Hicksville Rd. for $820,000. The property is occupied by two tenants. The main floor is 1,305 s/f and is occupied by a law office with over 20 years of experience. Their space consists of three windowed offices,
ERG Commercial secures $1.9 million acquisition loan for retail site
May 13, 2025
Smithtown, NY ERG Commercial Real Estate secured a $1.9 million acquisition loan for a neighborhood retail strip center located at 60 Terry Rd. The property, spanning 11,500 s/f, serves as a commercial hub in the community, offering convenient access to a variety of shops and services. The financing was provided by a community-focused bank institution, highlighting the strength
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