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United Group breaks ground on new mixed-use development
August 13, 2024
Troy, NY United Group developers were joined by city and state officials, development partners, business leaders and more to celebrate the start of the construction for City Station North II, LLC, downtown’s mixed-use, class A development consisting of multi-family apartments
Time Equities acquires 44,635 s/f Big Flats Commons from NNN REIT for $6.5 million
August 13, 2024
Elmira, NY Time Equities, Inc. (TEI) acquired Big Flats Commons, a 44,635 s/f shopping center located at 950 Rte. 64, from NNN REIT, a real estate investment trust, for $6.5 million. “In a strategic move aimed at expanding our presence in underserved
August 2024 New York State Commercial Assn. of Realtors president’s message - by Robert Strell
August 13, 2024
Many thanks to Katheryn DeClerck who taught “Realtor Hunger Games” in July. Katheryn kept the participants very engaged and the course fulfilled the two hour requirement for implicit bias training to renew your New York real estate license. We have two upcoming courses, via Zoom
Vivian of Largo Capital secures permanent first mortgage to refinance extended stay property for $7....
July 30, 2024
Warminster, PA Katie Vivian, hotel loan originator at Largo Capital, Inc. secured a permanent first mortgage to refinance the existing debt on an extended stay property, Home2 by Hilton, for $7.3 million. The 106-key hotel has consistently outperformed its competitive
LLC interest forfeiture is disfavored - by Thomas Kearns
July 30, 2024
Under New York law an LLC member’s interest may not be forfeited for a zero or near zero price if the member fails to make a required capital call. New York courts have repeatedly upheld this concept. Cases denying forfeiture include Atlantis v. Nabe ($1 buyout is a
Matheos Realty Group closes two 3-family properties for $3 million
July 30, 2024
Brooklyn, NY Matheos Realty Group has closed the sale of two 3-family properties in Bushwick, and Ridgewood for $3 million. The property, located at 321 Stanhope St. was sold for $1.65 million, which equates to $550,000 per unit, and $500 per s/f, the property
Hines expands regional headquarters
July 30, 2024
Manhattan, NY Hines is nearly doubling its New York City office space with a 12-year lease at 555 Greenwich+345 Hudson. Described by Fast Company as “New York’s most energy-efficient new office building,” 555 Greenwich has garnered industry acclaim
P.J. Clarke’s to open in 7,500 s/f at Brookfield Props.’ Manhattan West
July 30, 2024
Manhattan, NY P.J. Clarke’s Oyster Bar & Grille, which opened its first location in 1884, signed a 7,500 s/f restaurant lease at Manhattan West. The restaurant’s newest location will highlight local seafood, similar to their Oyster Bar on the Hudson at Brookfield
Industry City signs 41,500 s/f deal with Adafruit Industries
July 30, 2024
Brooklyn, NY Industry City, the 35-acre mixed-use complex comprising sixteen waterfront buildings in Sunset Park, signed a new lease with Adafruit Industries, a 100% woman-owned tech manufacturing company designing learning electronics, tools and equipment. The company
Aaron of Horvath & Tremblay sells East Harlem development site for $5.5 million
July 30, 2024
Manhattan, NY Robert Aaron of Horvath & Tremblay has completed the sale of 2148-2150 3rd Ave. and 183 East 117th St. Horvath & Tremblay exclusively represented the seller and procured the buyer. The cash-flowing redevelopment site
Columbia Property Trust secures full-floor lease for Harvey at 315 Park Ave. South
July 30, 2024
Manhattan, NY Columbia Property Trust, Inc. secured a new office lease and two retail leases at 315 Park Ave. South, its 20-story, boutique office building located in Midtown South’s Flatiron District.
Rudin secures two leases totaling 18,150 s/f at 41 Madison Ave.
July 30, 2024
Manhattan, NY Rudin secured a new lease with Clarick Gueron Reisbaum, LLP and is expanding Polar Asset Management Partners, Inc.’s footprint at 41 Madison Ave., its renovated office tower in the heart of Midtown South’s Flatiron District.
Rosenberg & Estis secure rezoning on behalf of Agudist Council of Greater New York
July 30, 2024
Brooklyn, NY Rosenberg & Estis P.C. secured a rezoning on behalf of Agudist Council of Greater New York, a decades-old congregation. The rezoning will the facilitate the rehabilitation of the existing synagogue and senior center,
amika and Eva NYC lease 19,000 s/f office space at Rubenstein’s 25 Kent
July 30, 2024
Brooklyn, NY Rubenstein Partners’ 25 Kent, a mixed-use office, retail and light manufacturing building located in Williamsburg, has signed a 10-year, 19,000 s/f lease with amika and Eva NYC, Brooklyn-born haircare brands. Both brands continue to experience
Silverstein Properties signs two new leases at 1177 Avenue of the Americas totaling 67,769 s/f
July 30, 2024
Manhattan, NY According to Silverstein Properties, two new leases have been signed at 1177 Avenue of the Americas. Faegre Drinker, a long-time tenant at 1177 Avenue of the Americas, will relocate within the building to occupy floors 41-43, totaling 42,394 s/f.
Mashihi and Kates of Block Real Estate Group sell mixed-use for $2.2 million
July 30, 2024
Ridgewood, NY A corner mixed-use property, 57-33 Catalpa Ave., consisting of four apartments and two retail stores sold for $2.2 million. The buyer was Niko Vasil and the seller was Mary Ilyayev.
Dockwell joins Haynes and Boone LLP
July 30, 2024
Manhattan, NY Haynes and Boone, LLP welcomed real estate litigation partner Brett Dockwell to the firm’s New York City office. Dockwell joins the firm from Morrison Cohen, where he spent the last 14 years.
Marcus & Millichap facilitates $9.05 million mixed-use property sale
July 30, 2024
Manhattan, NY Marcus & Millichap brokered the sale of a 17,645 s/f mixed-use property for $9.05 million. “Having previously been on the market with two other brokerage firms, the ownership engaged us to sell the property due to our
The Feil Organization signs 11,400 s/f lease with HF Brands and Markets
July 30, 2024
Manhattan, NY The Feil Organization has signed an 11,400 s/f lease with new food hall concept HF Brands and Markets, a partnership between restaurateur Steven Hanson and hospitality operator Alex Gaudelet, at 570 Lexington for 25 years.
NYC housing market: Renters are opting to renew leases - by Sam Eshaghoff
July 30, 2024
Gone are the days when every lease expiration prompted a hunt for a better apartment or a better deal. In a notable shift in the New York City housing market, more and more renters are opting to renew their leases. Here’s how high rents change the traditional dynamics, and keep
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