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A 2024 outlook: A community on the rise with more opportunities to discover - by Stacey Duncan
February 13, 2024
Exciting things are happening in Greater Binghamton. Last year, we received our second $10 million Downtown Revitalization Initiative award for the Village of Johnson City, opened the majestic Victory Lofts, and were one of only 31 Tech Hub designees in the nation. Through the
Trestle Community restoration project - by William Gati
February 13, 2024
The Trestle Community restoration project represents a transformative vision for the Bessemer and Babbage St. corridor, stretching from 84th Ave. to Hillside Ave. This 12-block endeavor is not merely an urban renewal effort but a comprehensive initiative to infuse
Falling cap rates in 2024 - by John Rynne
February 13, 2024
The rate of inflation has been decreasing significantly over the past year in part due to the actions of the Federal Reserve which has reduced rates. Ten year treasuries at the end of the fourth quarter in 2023 were 79 basis points lower than at the end of the third quarter.
Corporate Transparency Act A summary of the new reporting requirements - by Sandy Klein
February 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
2023 is behind us - by
Michael Packman
February 13, 2024
For commercial real estate investors, 2023 saw uncertainty between rising interest rates, worries of a deep recession as well as proposals from Washington D.C. to limit 1031 exchanges (again). These uncertainties have left investors that do not have to transact on the sidelines.
Blanton of Largo Capital secures acquisition financing for retail property
January 30, 2024
Kissimmee, FL Benjamin Blanton of Largo Capital, Inc. secured long term acquisition financing for a neighborhood retail property. The property is 28,500 square feet and 100% occupied. The improvements are minutes away from Walt
Crow Holdings Development completes redevelopment of Marcal Paper property - 207,000 s/f industrial
February 13, 2024
Elmwood Park, NJ Crow Holdings Development (CHD) has completed the redevelopment of 25 Market St., transforming of one of northern New Jersey’s most iconic industrial properties. The 207,000 s/f, class A building, located with visibility
IPA Capital Markets arranges $15.2 million refinancing for multifamily property
January 30, 2024
Brooklyn, NY IPA Capital Markets completed the $15.2 million refinancing of 68 Richardson St., a multifamily property. IPA Capital Markets’ New York team led by Max Herzog, Marko Kazanjian
New York’s ‘City of Yes’ spurs urban decarb plus growth by zoning reform
January 30, 2024
Manhattan, NY Following on the 2023 debut of its “City of Yes” strategy to permit more housing, faster in New York City, the mayor Eric Adams administration is unveiling a raft of zoning changes this winter intended to make the proposed growth carbon neutral, according to Adam Friedberg
Rosenberg & Estis, P.C. named in U.S. News & World Report’s 2024 best companies to work for: law f...
January 30, 2024
Manhattan, NY Rosenberg & Estis, P.C. has been named by U.S. News & World Report’s 2024 best companies to work for: law firms list. This recognition follows the Firm’s 2023 inclusion on Crain’s Best Places to Work in NYC list
Cushman & Wakefield publishes legal sector leasing insights and NYC office market update
February 13, 2024
Manhattan, NY Cushman & Wakefield released its Legal Sector Leasing Insights report for the fourth quarter of 2023 alongside a January 2024 Office Market Update report.
Island Associates brokers long-term lease for Sunshine Gas at Dolphin Plaza
February 13, 2024
Miami Gardens, FL Island Associates negotiated a new 15-year lease term with Sunshine Gas to occupy a gas and convenience store site located at Dolphin Plaza. Island Associates negotiated a substantial rent increase for ground lease benefiting the landlord while also securing the
Island Associates negotiates two retail leases in Florida - 2,800 s/f
February 13, 2024
Brooksville, FL Island Associates negotiated lease agreements at Sunrise Plaza in Brooksville and Forest Center in Silver Springs. Island Associates negotiated for Rikki Healing Gifts to occupy 1,400 s/f at Sunrise Plaza, which is an 85,000 s/f Winn Dixie Center.
GFP Real Estate signs three leases at 171 Madison Ave.
February 13, 2024
Manhattan, NY GFP Real Estate, LLC has signed three leases at 171 Madison Ave. in Midtown South totaling 4,188 s/f. PBA USA, Inc., an Italy-based designer and manufacturer of bath ware and hardware accessories, signed a six-and-a-half-year
Tinc Productions relocates to 1560 Bdwy.
February 13, 2024
Manhattan, NY Tinc Productions, a technical production firm with expertise across the live event landscape, including on- and off-Broadway shows, has signed a seven-year lease for 2,964 s/f on the sixth floor of 1560 Bdwy. in Times Sq.
Hodgson Russ named to 2024 “Best Companies to Work For: Law Firms” list
February 13, 2024
Buffalo, NY Hodgson Russ LLP has been named to the U.S. News & World Report 2024 Best Companies to Work For: Law Firms list. The list is an expansion of U.S. News’ “Best Companies to Work For” and looks at the country’s top law
Ross of Largo Capital secures first mortgage finance for industrial flex property
February 13, 2024
Toronto, ON Kevin Ross, managing director at Largo Capital Limited secured a permanent first mortgage to refinance the existing debt on a fully leased multi-tenanted industrial flex property. The project was renovated in 2017 and has 16 ft. clear heights and 16 loading doors. The site
Marcus Partners acquires 250-260 Mack Pl.
February 13, 2024
South Plainfield, N.J. Marcus Partners acquired 250-260 Mack Pl., an industrial outside storage (“IOS”) asset in a joint venture with Ridgecut Rd. which specializes in this high-demand asset class. The company also executed a long-term lease with the current tenant, Ironclad
BKM Capital Ptrs. hires Morrow as senior director, property management
February 13, 2024
Newport Beach, CA BKM Capital Partners has hired Craig Morrow as senior director for BKM Management Co. In this newly created role, he will spearhead the firm’s integrated property management and property accounting functions, playing a pivotal role in advancing
BKM Capital Partners acquires 140,693 s/f Airport Way Corporate Park for $24.5 million
February 13, 2024
Portland, OR BKM Capital Partners has acquired the Airport Way Corporate Park for $24.5 million. The multi-tenant infill industrial park is located in Portland’s highly trafficked Airport Way corridor.