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Commercial classroom: Needs Analysis - by Edward Smith Jr.
November 12, 2024
You receive a call from a local business telling you they need to move and want more space. Typically, the agent then asks them how much space they need. The business owner pauses, and then says about 5,000 s/f. Most business owners are not in the real estate business, and they may be guessing about their
Hunt Corp. commercial real estate question and answer: Forget the price - by David Hunt
November 12, 2024
A: Unless your broker is offering you space wildly out of budget, he is absolutely correct to be ignoring the asking price in showing you current industrial alternatives. Here are the five reasons that this is the right strategy and why you should “forget the price” on your initial
Long Island Fight for Charity to hold main event Nov. 25
November 12, 2024
Melville, NY Long Island Fight for Charity, the nation’s only volunteer charity boxing event, will be hosting its 19th Main Event on November 25. Attendees will gather to watch and cheer on the 15 men and women who will step in the ring to take a punch for charity. Over the last 11
Long Island’s office and industrial markets show signs of resilience
November 12, 2024
New York, NY Cushman & Wakefield released its third quarter office and industrial statistics for Long Island, showing that while the office market faces rising vacancy rates, leasing activity remained vigorous over the third quarter; meanwhile, the industrial sector demonstrated strong rental growth
Meltzer Lippe’s construction law practice successfully defends against $22 million suit
November 12, 2024
Mineola, NY Meltzer, Lippe, Goldstein & Breitstone LLP’s construction department, led by practice chair Manny Frade along with Adam Wald and Max Rayetsky, defended a client against a $22 million delay claim filed by a subcontractor in connection with the renovation of a subway station that had
Simone Development Companies signs 19,162 s/f long-term lease with Northwell Health
November 12, 2024
Melville, NY Simone Development Companies has signed a long-term lease with Northwell Health, Inc. for a new 19,162 s/f location at 40 Melville Park Rd. Northwell Health will use the space for a new pharmacy fulfillment center and related administrative offices at the 55,686 s/f single-story property.
TRITEC Real Estate holds ribbon
cutting and groundbreaking at Station Yards
November 12, 2024
Ronkonkoma, NY The completion of the first phase of residential construction at phase 2A at Station Yards, a $256 million development, was celebrated with a ribbon cutting and groundbreaking event, marking the completion of The Core’s first 388 apartments, 67,000 s/f of retail space, and 16,500
NYC Dept. of Finance proposing changes to NYC Charter and Title 19 of the RCNY to limit taxpayer opt...
November 12, 2024
New York City is supposedly a liberal, sanctuary city, but that clearly doesn’t apply to real estate owners considering the preposterous proposed rule changes recently released by the New York City Department of Finance. The proposed rules may be the most anti-taxpayer clauses ever suggested, much less approved,
DST gives investors another avenue to take advantage of the tax code while staying within the 1031 r...
November 12, 2024
When investing in real estate, the key is to buy a property well and then sell it for a profit at some point in the future. Many investors know they may be able to utilize Internal Revenue Code Section 1031 and exchange their property for a replacement property and defer their capital gains. This has been one of the
To stem outward migration, New York state must tackle housing and job growth in tandem - by Stacey D...
November 12, 2024
New York state is grappling with two interconnected crises: a severe lack of economic opportunity and population loss. The common thread intertwined through both is they are exacerbated by a significant need for housing that threatens to hollow out our communities and limit economic growth even more.
Property of the Month: 57-43 Mazeau St.: A multi-family investment opportunity in Maspeth, N.Y - by ...
November 12, 2024
Located in Maspeth, Queens, at 57-43 Mazeau St., this multi-family, semi-detached building offers the opportunity for investors in the competitive New York real estate market. Combining residential comfort with unmatched convenience, with its desirable location, modern amenities
Roller coaster cap rates - by John Rynne
November 12, 2024
Very early in the first quarter of 2024, I projected that the trend of 10 year treasuries and cap rates would decrease because inflation had been substantially decreased. However, early in the second quarter inflation reared it’s ugly head again. Cap rates inched up very slowly. During the third quarter cap rates
Standard Communities acquires $1 billion portfolio of affordable housing
October 29, 2024
Los Angeles, CA Standard Communities, a major national affordable housing developer and investor, has acquired a 100% affordable housing portfolio valued at over $1 billion consisting of over 6,000 apartment homes
The Real Estate Institute at Stony Brook University hosts annual fall luncheon
October 29, 2024
Farmingdale, NY The Real Estate Institute (REI) at Stony Brook University will host its Annual Fall Luncheon on November 19 to explore challenges facing Long Island's housing market and solutions to advance quality
Perlman of Largo Real Estate secures $7.5 million refinance of mixed-use property
October 29, 2024
Buffalo, NY Ned Perlman, vice president of originations at Largo Real Estate Advisors, Inc. secured $7.5 million to refinance a mixed-use property. Perlman leveraged his knowledge of the lending environment in
Progress Realty Partners Acquires Sam’s Club Center for $43,250,000
October 29, 2024
Cheektowaga, NY Progress Realty Partners, a private equity firm headquartered in Tinton Falls, NJ, has closed on its purchase of Union Consumer Square, an open-air retail center anchored by Sam’s Club
Adirondack Capital Partners complete sale of Fayetteville Pines Townhomes for $7.9 million
November 26, 2024
Fayetteville, NY Adirondack Capital Partners (ACP) has successfully arranged the sale of Fayetteville Pines Townhomes, a 64-unit multi-family property, for a total consideration of $7.9 million. DHM Properties sold the property to an undisclosed investor
Olshan expands corporate/securities law group with addition of Taibi
October 29, 2024
Manhattan, NY According to Olshan Frome Wolosky LLP, Edward Taibi has joined as a partner in the firm's corporate/securities law practice group. Taibi brings over 25 years of expertise in innovative transactional
Cronheim Hotel Capital secures $26.4 million for refinance and PIP of Hampton Inn & Suites
October 29, 2024
Columbus, OH Cronheim Hotel Capital (CHC) has secured $26.4 million to refinance the existing CMBS debt and capitalize an upcoming PIP on the Hampton Inn & Suites. The fixed-rate, non-recourse loan
Over 200 attend 50th anniversary party held by OLA Consulting Engineers
October 29, 2024
Manhattan, NY More than 200 professionals from the engineering, architecture, and construction industries gathered in Manhattan to celebrate OLA Consulting Engineers LLC’s 50th anniversary. Held at Jay Suites on West 38th Street