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Avison Young sells four buildings for $60.25 million for Page Management
April 16, 2024
Manhattan, NY Avison Young has arranged the sale of four buildings on behalf of Page Management. The properties consist of 236 West 15th St., 253-255 West 11th St., 82 Washington Pl., and 188-192 6th Ave. in the West Village,
CL Credit originates $24m senior loan for refinancing of 53 East 177th St.
April 16, 2024
Bronx, NY CL Credit (CLC) has completed its first loan in New York City. The platform, which was launched at the end of 2023 by Castle Lanterra (CL), a New York-based national real estate investment firm, originated a $24 million refinance for 53 East 177th St., a new
Flaherty, Reynolds, Parsons and Williams of IPRG sell development site in Hunter’s Point for $3.6 ...
April 16, 2024
Queens, NY Investment Property Realty Group (IPRG) negotiated the closing of 51-09 2nd St. in Hunter’s Point for $3.6 million. This property is located on the corner of 51st Ave. and 2nd St. The property offers 12,000 buildable s/f and
ProSentry closes seed round, pioneers smart building solutions
April 16, 2024
Manhattan, NY ProSentry, a New York-based technology service provider, has closed a $2.55 million seed funding round led by members of New York Angels, Inc., with participation from members of HBS Alumni Angels of Greater NY and other investors. The company’s approach to
Brisa Builders breaks ground on 82-unit Grace’s Place
April 16, 2024
Queens, NY Brisa Builders broke ground on 82 units of affordable senior housing at 13-38 Central Ave. in Far Rockaway. The project, titled Grace’s Place, is a senior housing development for affordable housing in Edgemere. The project has the support of community
Katz & Associates represents Hobby Lobby in 42,000 s/f lease
April 16, 2024
Staten Island, NY Hobby Lobby opened its first NYC store (42,000 s/f). It’s located at 280 Marsh Ave. Katz & Associates’ Brian Katz and Daniel DePasquale represented Hobby Lobby along with master broker Graeme Keith of The Keith Group.
Rice of SCG Retail leases
6,614 s/f to YETI
April 16, 2024
Manhattan, NY TSCG made known that YETI signing a retail lease at 200 Fifth Ave. Spanning 6,614 s/f, the store is divided between 3,770 s/f on the ground floor and an additional 2,844 s/f on the lower level. The store will open in late spring, early summer.
Marx Realty signs UpSlide to 9,536 s/f at 10 Grand Central
April 16, 2024
Manhattan, NY According to Marx Realty, UpSlide has signed a 10-year, 9,536 s/f lease on the sixth floor at 10 Grand Central. “We welcome UpSlide to 10 Grand Central’s unique and exceptional tenant roster,” said Craig Deitelzweig, president and CEO
A&E Real Estate unveils new mortgage lending arm
April 16, 2024
Manhattan, NY A&E Real Estate has formed A&E Real Estate Finance (AEREF), a debt financing platform led by Joseph Fingerman, an industry veteran with more than two decades of experience across the sector.
Someck and Myers of Lee & Associates represent Pearl World in 8,800 s/f lease at Carnegie Hall Tower...
April 16, 2024
Manhattan, NY Lee & Associates NYC represented Pearl World Inc. in a 12-year, 8,800 s/f lease at the iconic Carnegie Hall Tower at 152 West 57th St. in the Plaza District. The cosmetics company will lease the entire 48th floor and
OPEN Impact Real Estate assists two nonprofits secure long-term office space at 412-424 East 147th
April 16, 2024
Bronx, NY OPEN Impact Real Estate (OPEN) has assisted two nonprofits— Lift and Chances for Children —secure new long-term leases at 412-424 East 147th St. In the first transaction, LIFT, Inc., a nationwide nonprofit whose mission
Cresa arranges lease extension for China Merchants Bank
April 16, 2024
Manhattan, NY Cresa principal Michael Goldman has arranged a 15-year lease extension for China Merchants Bank (CMB) New York branch at Park Tower Group’s 535 Madison Ave. The bank will occupy 43,060 s/f of full-floor office space on the 17th, 18th, and 23rd floors
AKRF hires Miranda as vice president for environmental assessment and remediation
April 16, 2024
Manhattan, NY AKRF has hired Jennifer Miranda as vice president for environmental site assessment and remediation in New York City. Miranda is an experienced project and program manager specializing in due diligence, remedial investigations, and construction management
Greenpoint Landing holds ribbon cutting for 374-unit affordable housing
April 16, 2024
Brooklyn, NY Greenpoint Landing Associates, an affiliate of Park Tower Group, joined by city and elected officials, celebrated the most recent addition to its Greenpoint Landing master-planned development site, 35 Commercial St. The 22-story brick tower, located in Greenpoint,
Mixing business with pleasure, pleasure with business - part 1 - by Dan Castner
April 16, 2024
As train station parking lots fill up again and lines form at coffee shops near transit centers, one may ask, “Have we returned to normal? Is commuting worth it again?” Depending on the industry, it can be a resounding “yes” or a definitive “never”. But as the Partnership
For city’s construction, new ways to speed projects (while taming budgets) - by Tallal Bhutta
April 16, 2024
While many real estate experts admit it privately, few say it aloud: Project construction delivery in metro New York is often substandard. Our proud city seems to lack the integrated, foresightful focus on construction seen in many other parts of the country.
Botsaris of Colliers leases 7,200 s/f to Sola Salon Studios in Flatiron District
April 16, 2024
Manhattan, NY Sola Salon Studios has completed a lease for a new location at 50 West 17th St. in the Flatiron District. The company will occupy 7,200 s/f on the fifth floor. Sola Salon Studios supports entrepreneurs in the beauty service industry,
Fried Frank advises MCR in 16-hotel refinance
April 16, 2024
New York, NY Fried Frank advised MCR, the country’s third-largest hotel owner-operator, on its refinancing of a 16-hotel portfolio for $333 million, generating $51 million of net proceeds. MCR acquired the 16 hotels — totaling 2,274 guestrooms — primarily in 2020 and 2021.
Rudin inks two headquarters relocations at
One Battery Park Plaza
April 16, 2024
Manhattan, NY Rudin has secured two headquarters relocation deals, totaling a combined 26,500 s/f, at One Battery Park Plaza, its 35-story, 870,000 s/f office tower. >New York City-based insurance litigation firm, Barry McTiernan & Moore LLC, will relocate from its current headquarters
Question of the Month: Does a recent sale impact property taxes? It all depends. - by David Wilkes
April 16, 2024
A recent, arm’s length sale is often considered a strong indicator of a property’s value. But a sale price can also mask considerations that went into a deal that would be unknown to an outsider, such as business motivations, financing terms, and retained interests.
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