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Message from the president of Real Estate Board of New York - by James Whelan
January 14, 2025
The COVID pandemic dealt a huge blow to urban centers around the country, including New York City. 2024, However, showed New York’s real estate market has positive momentum with significant policy wins and improved market performance. The priority for 2025
Rynne honored by Upstate NY Chapter of Appraisal Institute with the Richard Kelley Memorial Award
January 14, 2025
Rochester, NY The Upstate New York Chapter of the Appraisal Institute awarded, John Rynne, MAI, SRA president of Rynne, Murphy & Associates, Inc. the annual Richard Kelley Memorial Award for 2024.
Morris of Newmark represents Criteo in 21,000 s/f lease at TF Cornerstone’s 387 Park Ave. South
January 14, 2025
Manhattan, NY New York City real estate development firm TF Cornerstone (TFC) made known a 10-year lease extension with commerce media company Criteo at its 387 Park Ave. South office building in the Flatiron District. The new lease, encompassing
Weinraub and Dobosh of HKS Real Estate Advisors arrange $4 million loan for acquisition
January 14, 2025
Manhattan, NY HKS Real Estate Advisors has closed a $4 million loan to fund the acquisition of a newly built commercial condominium in Soho. One Vandam, located at 180 6th Ave., consists of four retail units totaling 14,000 s/f
AmTrust RE acquires 24-story 360 Lexington Ave. for $65.5 million
January 14, 2025
Manhattan, NY AmTrust RE (AmTrust) acquired 360 Lexington Ave., a 268,000 s/f office building located in the Midtown East neighborhood for $65.5million. Constructed in 1959, the 24-story office tower has received renovations in the past few years,
Old Dominion Freight Line to develop 20-acre site in Broome Corporate Park
January 14, 2025
Conklin, NY Old Dominion Freight Line (ODFL), a leading national freight company, is set to purchase a 20-acre site in the Broome Corporate Park to construct a cross-dock logistics facility. The site, which has remained vacant since the park’s establishment
Greystone provides $32m CMBS loan for affordable housing property
January 14, 2025
Brooklyn, NY Greystone has provided a $32 million Commercial Mortgage Backed Security (CMBS) loan to refinance a 90-unit affordable housing property. The financing was originated by Avi Lifshitz and Aviel Hematian of Greystone. Rose Schwartz and Gabby
Olshan Frome Wolosky promotes Sluszka to partner and Stone to counsel
January 14, 2025
Manhattan, NY Olshan Frome Wolosky LLP has elevated Dorothy Sluszka to partner and Daniel Stone to counsel at the firm. These promotions were earned through responsive, results-driven work and client service. The new positions were effective as of
M&T Realty Capital Corp. provides $200.96 million in Fannie Mae financing for 46-10 Center Blvd.
January 14, 2025
Long Island City, NY M&T Realty Capital Corp. provided $200.96 million in Fannie Mae financing for 584-unit property, 46-10 Center Blvd. The property consists of studio, one-, two-, and three-bedroom residences and one ground floor retail
A guide to finding the right NYC property management company - by Sanjay Gandhi
January 14, 2025
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Williams Equities acquires 300,000 s/f
470 Park Ave. South for $147.5 million
January 14, 2025
Manhattan, NY Continuing its overall investment strategy of acquiring assets in Midtown South, Williams Equities has secured 470 Park Ave. South for $147.5 million, adding the 300,000 s/f, historic office property to the ownership group’s New York
January 2025 NYSCAR president’s message - by Robert Strell
January 14, 2025
The NYSCAR Annual Conference will be held June 16-17 at the Rivers Casino in Schenectady, NY. Conference chair Mercedes Brien and the planning committee are working on an education program and marketing session for all attendees. If you or your company would like to be a sponsor,
Powers joins Hodgson Russ’ bankruptcy, restructuring and commercial litigation practice as partner...
January 14, 2025
Buffalo, NY Hodgson Russ LLP is growing its bankruptcy, restructuring & commercial litigation practice with the addition of Travis Powers. Powers advises clients in all aspects of complex commercial insolvency law, both in and out
Empire Commercial Construction builds-out 25,000 s/f at Lowe’s Plaza for Get Air Trampoline Park
January 14, 2025
Greece, NY Empire Commercial Construction completed the contract for Get Air Trampoline Park. Empire partnered with Greater Living Architecture for design of the over 25,000 s/f tenant fit-out located at 3160 West Ridge Rd. in the existing Lowe’s Plaza.
Perlman of Largo Real Estate Advisors
closes two loans for $6.5 million
January 14, 2025
Williamsville, NY Ned Perlman, vice president of Upstate Originations at Largo Real Estate Advisors, Inc., closed two upstate properties totaling $6.5 million. The first property is a 18,610 s/f retail property. Most of the space is occupied by a local restaurant tenant.
WinnCompanies completes transformation of
10 historic, low income apartment buildings
January 14, 2025
Buffalo, NY WinnCompanies has completed a $20.5 million renovation of 10 historic, low-income apartment buildings in the city’s downtown modernizing the properties and preserving all 135 units as affordable housing for 40 years.
Suffolk IDA approves investment for Good Meats, LLC/Casanova Market to purchase/renovate 50,000 s/f
January 14, 2025
Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has approved a transaction that will allow Good Meats, LLC/Casanova Market Inc. to invest in the purchase and renovation of a 50,000 s/f existing building on 4.6 acres and an adjacent
Know your zone: The tax implications of vacant land in New York City and Nassau County - by Jeremy M...
January 14, 2025
Vacant land in Nassau County and New York City falls under unique rules of taxation regarding how it is assessed and how annual tax bills are calculated. Both jurisdictions are classified as “Special Assessing Units” under Article 18 of the NYS Real Property Tax Law (RPTL).
Commercial classroom: 2025 goal: Develop your commercial referral business - by Edward Smith Jr.
January 14, 2025
A consistent program is the key to success. Begin with a “sphere of influence” list, literally everyone you know. Prepare a brief letter announcing or reminding people on the list that you are in the commercial and investment real estate brokerage business. Add a few
Brookhaven Industrial Development Agency closes on economic development incentives package for propo...
January 14, 2025
Medford, NY Frederick Braun, chairman of the Town of Brookhaven Industrial Development Agency (IDA), said that the IDA has closed on a package of economic development incentives for a proposed affordable rental apartment complex for adults 55-plus.
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