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Services for the UnderServed and Bronx Pro Group begin Starhill Phase II; 244 affordable homes
August 13, 2024
Bronx, NY Services for the UnderServed (S:US) and Bronx Pro Group LLC broke ground on Starhill Phase II, an affordable and supportive housing project on July 16. Starhill Phase II will comprise 244 affordable apartments
Douglaston Development, NYC HDC and HPD secure financing for 277-unit multifamily housing
August 13, 2024
Bronx, NY The New York City Housing Development Corporation (HDC), The New York City Department of Housing Preservation and Development (HPD) and Douglaston Development has closed on construction financing for a 12-story, 277-unit multifamily affordable
Hudson Companies and Housing Works break ground on The Lirio - 112 units
August 13, 2024
Manhattan, NY The Hudson Companies and Housing Works, in partnership with the New York City Department of Housing Preservation & Development (HPD), the Metropolitan Transportation Authority (MTA), Webster Bank, Merchants Capital, Red Stone Equity Partners and local elected officials
Christie’s International Real Estate Group implements Trusts and Estates Division
August 13, 2024
Manhattan, NY Christie’s International Real Estate Group has launched a new Trusts and Estates Division, led by real estate agents Howard Morrel and Leslie Hirsch. Headquartered in New York, this new division is dedicated to the sale of luxury estates
Georgica Green Ventures holds ribbon cutting for Highgarden Tower
August 13, 2024
New Rochelle, NY Housing development firm Georgica Green Ventures, LLC hosted a ribbon cutting ceremony for Highgarden Tower, a new affordable housing development. The event, held in partnership with the City of New Rochelle, Westchester County,
Mulford Corp. holds grand opening of $48m
La Mora Senior Housing
August 13, 2024
Yonkers, NY Officials from the City of Yonkers, New York State, Westchester County, U.S. Department of Housing and Urban Development and the NYS Homes and Community Renewal joined with the Mulford Corporation on July 9 to celebrate the grand opening of La Mora
Naftali Credit Partners closes on two loans for ground-up developments totaling $31.4m
August 13, 2024
Queens, NY Naftali Credit Partners, headed by CEO Glenn Grimaldi, a subsidiary of Naftali Group – the leading and privately held, global real estate development and investment firm run by CEO and chairman Miki Naftali, has closed on two mezzanine loans marking the fourth and fifth deals
Perch and Nuveen launch community solar plan
August 13, 2024
New York, NY Perch Energy (Perch), a clean energy technology platform and community solar servicer, and Nuveen, a global investment manager and one of the nation’s largest owners of affordable housing, have launched a campaign to offer low-and moderate-income
Glacier Equities and InterVest
launch sales at 720 West End Ave.
August 13, 2024
Manhattan, NY Glacier Equities and alternative asset manager InterVest Capital Partners launched sales at 720 West End Ave., a new luxury condominium that transforms a 1927 Emery Roth-designed pre-war building into a residential address in a landmarked area of the Upper West Side.
RXR celebrates opening of Two Clinton
Park - 390-unit luxury residential tower
August 13, 2024
New Rochelle, NY RXR, the developer behind the transformative redevelopment, celebrated the grand opening of Two Clinton Park, its newest and most luxurious residential tower featuring 390 apartments and extensive amenities. “Ten years ago, RXR was selected to revitalize downtown New Rochelle
REBNY announces new government affairs and communications department leads
July 30, 2024
Manhattan, NY According to The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, two new leaders will lead its government affairs and communications departments. Aravella Simotas joins as senior vice president
Shawmut Design and Construction builds on $2 million fundraising milestone in 2024 Pan-Mass Challeng...
July 30, 2024
Boston, MA Shawmut Design and Construction, a leading $1.6 billion national construction management firm, participated in its 17th consecutive Pan-Mass Challenge (PMC), raising nearly $65,000 and counting to build on its lifetime fundraising
Real Property Income & Expense (RPIE) filing has been legal for decades, yet it continues to confuse...
August 13, 2024
Sometimes I wonder if taxpayers think the RPIE is a secret missile program… they aren’t supposed to have any knowledge of. For the thousands of property owners apparently still in denial, or shrouded in unfamiliarity, the RPIE filing stands for Real Property Income & Expense. It
New, creative food & beverage concepts keep leasing brokers busy throughout summer 2024 - by James ...
August 13, 2024
When the spring ended and the weather started to get warmer, I expected Manhattan to clear out and for business to slow down as it typically does in the summer. To my surprise, deal flow picked up in June and this summer proved to be one of the busiest seasons of my career. I’ve always suggested
Broome County is a critical geographic link in the electronics supply chain - by Stacey Duncan
August 13, 2024
Microchips, as their name implies, are incredibly small — with billions of transistors packed into a space no larger than a single fingernail. But the supply chain necessary to manufacture this critical technology is both far-reaching and complex.
Conducting a zoning analysis in
New York City - by William Gati
August 13, 2024
In the ever-evolving landscape of New York City, conducting a zoning analysis is a pivotal step for anyone looking to build an addition, convert a property, or undertake significant modifications. While the process may seem straightforward at first glance, the intricacies
Real estate value, Vrbo & Airbnb - by John Rynne
August 13, 2024
The Vrbo and Airbnb revolution has exploded on the scene especially for residential properties. I’ve appraised a number of properties that have been used for short-term occupancy, either daily or weekly. In the past they were typical month-to-month or annual traditional rentals. Most
Corporate Transparency Act: A summary of the new reporting requirements - by Sandy Klein
August 13, 2024
On January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires businesses, including real estate businesses, to file a Beneficial Ownership Information (BOI) Reports with the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). Such
The role of a qualified intermediary in a 1031 exchange - by Michael Packman
August 13, 2024
To complete a valid and successful 1031 exchange, investors acquiring taxpayer-owned properties need the services of a qualified intermediary (QI), also known as an “exchange facilitator.” During a 1031 exchange, the individual obtaining an investment or business property
Empire Adventure Park opens 35,000 s/f
at Samanea New York
August 13, 2024
Westbury, NY Samanea New York, the new retail, entertainment and dining destination located at 1500 Old Country Rd. celebrated the grand opening of Empire Adventure Park, a first-to-market trampoline and active entertainment venue. NYS senator Kevin Thomas, the Nassau County