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Is New York City still a viable investment option? - by Shallini Mehra
April 16, 2024
With lingering high rates, rent collection difficulties in stabilized buildings, escalating operating costs, and a strict regulatory environment, certain segments of the real estate market are facing tough hurdles. The
Six new leases signed at The Stahl Organization’s 277 Park Ave. office building
April 16, 2024
Manhattan, NY Cushman & Wakefield and The Stahl Organization arranged six new leases totaling 175,000 s/f at 277 Park Ave., a 1.85 million s/f class A office building in Midtown.
SCALE Lending issues $140 million construction loan to Clipper Equity
April 16, 2024
Brooklyn, NY SCALE Lending has issued a $140 million construction loan for Clipper Equity’s seven-story, 354-unit multifamily project located at 2366 Bedford Ave. in Flatbush.
Taconic Partners and Nuveen Real Estate launch
430,763 s/f One Grand
April 16, 2024
Manhattan, NY Taconic Partners and Nuveen Real Estate have unveiled One Grand, a new, 28-story office headquarters in Midtown South. The building is at the crossroads of SoHo, Hudson Sq, and TriBeCa. One Grand consists of office space with wellness and
L+M Development Partners and Osborne Association close on $126 million deal for Marcus Garvey extens...
April 16, 2024
Brooklyn, NY L+M Development Partners and Osborne Association closed on a $126 million deal to develop Marcus Garvey extension phase two buildings C/E in Brownsville. The project will feature 178 affordable apartments, 88 of which will be supportive
Besen National Team complete the sale of a 129-unit apartment complex
March 26, 2024
Houston, TX Besen Partners has completed the sale of Trafalgar Apartments, a 142,395± s/f apartment complex located on Briarhurst Dr. between Westheimer Rd. and Fairdale Ln. The Besen National team secured an above-market offer on behalf of a pre-existing
National Assn. of Realtors Legislative meetings May 4-9
April 16, 2024
Washington, DC At the Realtors Legislative Meetings, thousands of members assemble to conduct the business of NAR — advocacy work that makes us the most respected voice in real estate, protecting property ownership and advancing commercial and residential markets.
NYSCAR upcoming professional development courses
April 16, 2024
Albany, NY Please be sure to keep up to date with your continuing education credit for your real estate license. NYS C.E. requirements for license renewal. Any real estate licensee submitting an application for renewal for a license expiring on or after September 21, 2022 must
April 2024 New York State Commercial Assn. of Realtors president’s message - by Robert Strell
April 16, 2024
We are looking forward to the upcoming annual conference being held June 24-26, 2024 at Rivers Casino in Schenectady! The event is sponsored by the NYS Commercial Association of Realtors, the Upstate NY CCIM Chapter and the Society of Exchange Counselors. Mercedes Brien (Rochester) is the conference chair and reported that this year’s event will feature
SmallChange.co expands with addition of five partners
April 16, 2024
Buffalo, NY SmallChange.co has expanded with the addition of five partners. All have experience in regulation crowdfunding: The five include Julian Anjorin, an entrepreneur with a background in cybersecurity; Derek King, who specializes in historic preservation; Richard Rogers,
Phillips of Largo Real Estate secures
$12.1 million refinance
April 16, 2024
Tonawanda, NY Jack Phillips, principal of Largo Real Estate Advisors Inc. secured a $12.1 million permanent first mortgage to refinance the existing debt on a 307,000 s/f, light industrial warehouse. The fully occupied building was constructed to modern standards featuring good column spacing,
CBRE Upstate NY brokers three deals totaling $1.665 million
April 16, 2024
Syracuse, NY CBRE Upstate NY negotiated the closing of three sales that were listed by its brokerage team. In Broome County, CBRE Upstate NY’s Rick Searles represented the seller, Luciano Piccirilli, in the disposition of 86 Walnut St., a 9,800 s/f office building
United Group promotes DiGiacomo to chief operating officer
April 16, 2024
Troy, NY Michael DiGiacomo of The United Group Companies, Inc. has been promoted to chief operating officer of United Group’s management company, United Plus Property Management, AMO (UPPM). In this role, DiGiacomo will take on increased responsibility in all phases of operations as well as play the crucial role of leading
The Agency receives $11.2 million in funding for 27-acre 600 Main St. site
April 16, 2024
Union, NY The Agency will receive $11.2 million in funding from New York state to build-out and prepare the site at 600 Main St. The 27-acre site, which was once home to BAE Systems, was completely flooded in 2011. While the site looks “shovel ready,” a significant amount of investment is required to return it to
Buckley of Endeavor Real Estate brokers
sale of 86,000 s/f industrial property
April 16, 2024
Rochester, NY Endeavor Real Estate Group negotiated the sale of 105 Elmore Dr., an 86,000 s/f industrial property. Endeavor’s managing principal James Buckley facilitated the transaction on behalf of the purchaser and seller.
Stony Brook University Hospital leases 25,000 s/f
April 16, 2024
East Setauket, NY Colliers secured a long-term lease extension and expansion for Stony Brook University Hospital within the Stony Brook Technology Center (SBTC). A Colliers team led by vice presidents Maria Valanzano and Steven D’Orazio represented the landlord, TRITEC Real Estate Company, in the transaction. David Leviton from JLL represented Stony Brook
Suffolk County Industrial Development Agency preliminarily approves investment for 536 Broadhollow R...
April 16, 2024
Melville, NY The Suffolk County Industrial Development Agency (IDA) has preliminarily approved a transaction to assist 536 Broadhollow Realty LLC to construct a 77,000 s/f building that will be used as a warehouse and office space for one to two tenants. With the IDA’s support, 536 Broadhollow Realty will invest more than $11.53 million
Country Pointe in Plainview by
The Beechwood Organization is sold out
April 16, 2024
Plainview, NY According to The Beechwood Organization all 660 market-rate condominium homes at its mixed-used development, Country Pointe in Plainview, are sold. The milestone reflects demand by Long Islanders of all ages, and primarily empty nesters aged 55-plus, for better quality of life where and how they want to live today.
REI at SBU College of Business to hold joint panel on May 3rd about Long Island zoning policies
April 16, 2024
Stony Brook, NY The Real Estate Institute (REI) at Stony Brook University (SBU) College of Business will hold a joint panel event on May 3rd at the Hilton Garden Inn, 1 Circle Rd., SUNY Stony Brook Campus. The spring luncheon, titled “Long Island Zoning Atlas – A Map to Fix LI’s Housing Crisis?” promises a discussion
Racanelli Construction Co. completes 123,970 s/f Venture Park Hauppauge
April 16, 2024
Hauppauge, NY Racanelli Construction Company, Inc. served as the general contractor on a project awarded by Venture One in partnership with Affinius Capital. The project Venture Park Hauppauge, was awarded on April 2022, and completed on December 2023. It is located at 49 Wireless Blvd
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