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New York City announces updates to Local Law 126: Mandatory parking garage inspections - by Joe DiPo...
September 10, 2024
New York City has officially announced updates to Local Law 126, which mandates regular inspections of parking garages across the five boroughs. As part of the city’s ongoing effort to ensure structural safety and protect the public, the revisions focus on inspection frequency, reporting requirements, and the qualifications of licensed engineers involved in these assessments.
Seven software features New York property owners and managers should look out for - by Miguel Lopes...
September 10, 2024
Tired of tech that doesn’t cater to the unique needs of New York real estate? You’re not alone. This article will cover seven ways software can make property management challenges a thing of the past. 1. Simplify charge codes Many property managers struggle to clearly delineate charges, such as defining legal rent versus preferential rent credits.
The vision and “back story”: What NYC can still learn from the development of the NY Marriott at...
September 10, 2024
Recently, the NY Marriott At The Brooklyn Bridge celebrated the 25th anniversary of its grand opening. While today there are many vibrant hotels throughout Brooklyn, just over a quarter century ago, to many, the idea of hotel development in Brooklyn was a lot more far-fetched. The notable exception was real estate developer Joshua Muss and Muss Development,
Taconic Partners and National Real Estate Advisors launch leasing at The Ellery
September 10, 2024
Manhattan, NY Taconic Partners and National Real Estate Advisors have launched leasing at The Ellery, a new luxury rental residential offering at 312 West 43rd St. Reaching 32 stories high, the development spans two connected towers. Designed by Handel Architects, The Ellery features 330 studio to two-bedroom luxury residences with sun-lit layouts and far-ranging views of the city and the Hudson River even on the lower floors.
Community Access and Spatial Equity in joint venture close sale of Parish for affordable housing dev...
September 10, 2024
Manhattan, NY According to the Archdiocese of New York, the Parish of St. Brigid-St. Emeric closed on the sale of the property in East Village to a development team that plans to build more than 500 units of affordable housing on the site. The project is in keeping with the Archdiocese’s long-standing commitment to providing affordable housing to the communities it serves at a time when the citywide vacancy is at a historic low
Hoteliers form NYC Minority Hotel Association advocacy group
September 10, 2024
Manhattan, NY A group of hotel owners from across the city today have formed the NYC Minority Hotel Association, a new advocacy group created to push back against the City Council’s proposed Intro 991, also known as the so-called “Safe Hotels Act,” given the grave harm it poses for minority hotel owners and employees.
Domain Companies, VOREA Group, Silverstein Properties and Cantor Fitzgerald L.P. launch affordable h...
September 10, 2024
Brooklyn, NY The Domain Companies, VOREA Group, Silverstein Properties and Cantor Fitzgerald, L.P. launched a lottery for the affordable apartments at 420 Carroll, the first building developed through the 2021 Gowanus Neighborhood Rezoning. The lottery is for 90 homes reserved for families between 40 and 100% of the area median income, which is 25% of the total 360 apartments in the development.
SL Green Realty’s Giorgio Armani Residences 100% sold
September 10, 2024
Manhattan, NY According to SL Green Realty Corp., Giorgio Armani Residences on the Upper East Side have sold out. All 10 residential units within the luxury condominium project are now under contract for gross consideration totaling $168.2 million. The sales are expected to close in the fourth quarter of 2024.
Featured Property: The Lincoln Park Development
transforms downtown New Rochelle
September 10, 2024
New Rochelle, NY The recently completed Lincoln Park Development sets a new direction for the future of downtown New Rochelle and serves as an example of the transformative power of architecture to revitalize urban spaces and support community growth. The development is the actualization of a decade long effort for the city.
Solar Landscape enters partnership with National Storage Affiliates Trust
September 10, 2024
New York, NY National Storage Affiliates Trust (NSA) and Solar Landscape have entered into an agreement to pursue the installation of new solar capacity on rooftops across the NSA’s properties nationwide. NSA and Solar Landscape plan to develop at least 100 megawatts of solar capacity, which represents 8.5 million s/f of rooftop space.
The Dermot Company with PGGM
acquires 767-unit luxury residence
September 10, 2024
Manhattan, NY The Dermot Company (Dermot), a vertically integrated, multifamily investment manager, owner, and operator of high-quality communities, in partnership with Dutch pension fund service provider PGGM, has acquired 20 Exchange Pl., a 767-unit, 57-story
BREV, PCD Development, and Hines
maintain strong sales at The Daymark
September 10, 2024
Sleepy Hollow, NY The Daymark, a premier collection of waterfront condominium residences, has maintained sales momentum, securing ten new contracts over the summer. Rising along the Hudson River within the award-winning Edge-on-Hudson mixed-use community, The Daymark presents a opportunity to experience a lifestyle that integrates nature with modern living.
Decoding “City of Yes for Economic Opportunity” - by Juan Gomez
September 10, 2024
New York is a fast-paced city, but it’s zoning regulations are still stuck in the last century. However, a recently approved zoning initiative might soon change that. As of June 2024, businesses can operate on upper floors, corner stores can open on residential blocks, and life science research facilities are permitted in all commercial districts – but these are just a few of the many changes
Aarons of AFD Contract Furniture to join CoreNet’s ERS Host Committee
September 10, 2024
Manhattan, NY AFD Contract Furniture’s (AFD) CEO, David Aarons, has been invited to serve on the Host Commitee for CoreNet Global’s 2025 Eastern Regional Symposium (ERS) in New York City. Taking place June 2025, the event is typically attended by over 400 real estate professionals.
TF Cornerstone inks two nail
salon leases totaling 3,184 s/f
September 10, 2024
Manhattan NY Real estate development firm TF Cornerstone (TFC) has inked a new lease signing with sundays Studio, a high-end salon that specializes in non-toxic nail care and self-care experiences, at the ground floor of Malt Dr.’s North Tower in Long Island City.
Brookfield Properties takes on transformative
repositioning project at One Liberty Plaza
September 10, 2024
Manhattan, NY Brookfield Properties has commenced a transformative repositioning project to modernize the lobbies at One Liberty Plaza. This major capital investment in the property comes on the heels of Brookfield Asset Management securing a $750 million refinancing at the 2.3 million s/f class A commercial skyscraper.
Newmark secures $985 million financing on behalf of 80 Clarkson Developers
August 27, 2024
Manhattan, NY Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers
Cushman & Wakefield arranges 5,553 s/f lease extension for Empyrean Capital Partners
August 27, 2024
Manhattan, NY Cushman & Wakefield has arranged a long-term 5,553 s/f lease extension for Empyrean Capital Partners at 499 Park Ave. The investment manager will continue occupying the entire 28th floor
JLL has fully leased Zero Irving
August 27, 2024
Manhattan, NY JLL has completed the lease-up of Zero Irving, the newly-developed mixed-use building at 124 East 14th St., securing a 12,455 s/f, full-floor lease with Senator Investment Group, an investment firm founded in 2008
CBRE completes $34 million sale of Hudson Heritage
August 27, 2024
Poughkeepsie, NY Jeffrey Dunne, David Gavin and Travis Langer of CBRE’s National Retail Partners represented EFG/Saber Heritage SC, LLC in the sale of Hudson Heritage in for $34 million. CBRE also procured the buyer, Tampa, FL based East Coast Acquisitions
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