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JLL Capital Markets arranges $71m construction financing for The Austin
January 16, 2024
Queens, NY JLL Capital Markets have arranged $71 million in construction financing for The Austin, a 98-unit luxury condominium project underway at the corner of Austin St. and 78th Ave. in Forest Hills.
Cushman & Wakefield arranges multiple leases at 400 Madison Ave.
January 16, 2024
Manhattan, NY Cushman & Wakefield has arranged multiple leases totaling 16,445 s/f at 400 Madison Ave. in the fourth quarter, a 200,000 s/f office property located near Grand Central Station. Cushman & Wakefield’s Harry Blair, Lauren Hale and Michelle Mean
Barberry Rose sells off three building portfolio in Crown Heights for $5 million
January 16, 2024
Brooklyn, NY Barberry Rose has sold three contiguous four-story buildings on Eastern Pkwy. in Crown Heights with 49 units for $5 million to Gilman Management. The buildings include 1193,1199 and 1205 Eastern Pkwy.
CBRE arranges new office leases totaling more than 275,000 s/f at 40 West 57th St.
January 16, 2024
Manhattan, NY CBRE completed five new office leases totaling 103,566 s/f at the office tower at 40 West 57th St. in the city’s Plaza District in the past few months. The new signings demonstrate the demand for office space at the class A office property owned
Gebroe-Hammer Associates and Berkadia orchestrate sale of The Metropolitan Lofts
January 16, 2024
Morristown, NJ Gebroe-Hammer Associates and Berkadia have announced the sale of 59 class A multifamily units at The Metropolitan Lofts in downtown for an undisclosed price.
Brookhaven IDA closes on East Patchogue apartments
January 16, 2024
East Patchogue, NY Fred Braun, chairman of the Town of Brookhaven Industrial Development Agency (IDA), said that the IDA has closed on a package of economic development incentives for a proposed workforce apartment rental complex.
TRITEC completes 17,684 s/f expansion and renovation at North Suffolk Cardiology Medical
January 16, 2024
East Setauket, NY North Suffolk Cardiology undertook a significant expansion and renovation project at its office located at 45 Research Way. The project included many challenges, and TRITEC Building Company employed many solutions to complete the renovation in an occupied building successfully
ERG Commercial Real Estate closes on vacant lot at 681 West Jericho Tpke.
January 16, 2024
Huntington, NY ERG Commercial Real Estate negotiated the $1.22 million sale of a vacant lot at 681 West Jericho Tpke. The buyer was Connection Auto Sales which is planning to move the business from its present location (529 E Jericho Tpke.) to this location.
ACC Space Inc. brokers two leases
totaling 22,000 s/f
January 16, 2024
Mineola, NY ACC Space Inc. negotiated two leases totaling 22,000 s/f. Day Elevator and Lift leased 12,000 s/f at 147 E 2nd St. a flex-building. Chip Entwistle and Kevin Lann of ACC represented the tenant. Jason Miller represented the landlord
Suffolk County IDA approves new affordable housing policy
January 16, 2024
Hauppauge, NY The Suffolk County Industrial Development Agency (SCIDA) established a first-of-its-kind Affordable Housing Policy. While other affordable housing policies exist throughout the region, the Suffolk IDA’s is the first to have dedicated provisions
Hempstead IDA gives preliminary OK to benefits for warehouse to be built near JFK
January 16, 2024
Inwood, NY Frederick Parola, chief executive of the Town of Hempstead Industrial Development Agency (IDA), said that the IDA has given preliminary approval to a package of economic development benefits for a warehouse proposed for a once-polluted site near
Hunt Corp. Commercial Q&A: Save with Section 1031 exchange - by David Hunt
January 16, 2024
Q: I own the building that houses my construction business. We are considering purchasing a larger building and moving. My broker suggested a 1031 exchange. How does that work and is it worth the effort?
Olshan Properties’ The Gate at Manhasset reaches 100% leased
January 16, 2024
Manhasset, NY Olshan Properties said that its shopping center, The Gate at Manhasset (The Gate), is fully leased. This milestone, achieved via 50,000 s/f in newly completed leases, underscores Olshan’s commitment to commercial retail centers as well as the strength of retail
Mayor and Densen of Island Assocs. broker five-year lease with The Law Office of Pat McCarthy ESQ.
January 16, 2024
Hauppauge, NY Lawrence Densen and Christopher Mayor of Island Associates brokered a five-year lease agreement with the, The Law Office of Pat McCarthy ESQ. and The accounting office of Richard Eitelberg CPA located @ 330 Motor Pkwy. Both Richard
NAI Long Island brokers two leases at Brookhaven Professional Center - 4,864 s/f
January 16, 2024
Medford, NY NAI Long Island negotiated two leases totaling 4,864 s/f at Brookhaven Professional Center (BPC), 3231-3253 Rte. 112. Senior director Brian McGuire of NAI Long Island negotiated the 1,248 s/f lease agreement with The Nassau-Suffolk School Boards Association
Bayport Funding provides $3.7 million
acquisition loan
January 16, 2024
Sag Harbor, NY Bayport Funding provided a $3.7 million acquisition and construction loan for a single-family home located on Millstone Rd. This property is located in a neighborhood and will include an in-ground pool with pool-house, tennis court and fitness and entertainment
United Properties sells 12,000 s/f retail/office
for $3.85 million
January 16, 2024
Plainview, NY United Properties Corp. closed the sale of a mixed-use property for $3.85 million. 1100 Old Country Rd., a retail and office building on the corner of Old Country Rd. and Plainview Rd., was purchased by
Metropolitan Realty Assocs. completes $18m refinancing of 128,600 s/f 81 Spence St.
January 16, 2024
Bayshore, NY Joseph Farkas, CEO and Founder of Metropolitan Realty Associates LLC (MRA), completed the refinancing of 81 Spence St. The refinancing occurred after securing an extended long-term lease with Duro Dyne National Corp., which now occupies the entire 128,600 s/f manufacturing
Marcus & Millichap sells Fannwood Estates for $48 million
January 16, 2024
Queens, NY Marcus & Millichap negotiated the sale of Fannwood Estates, a six-story, 312-unit multifamily asset located on an entire city block in the Rego Park neighborhood. The property sold for $48 million.
Thorofare Capital refinances class A multifamily property in San Diego
January 16, 2024
San Diego, Ca Thorofare Capital, Inc., an affiliate of asset management platform Callodine Group, provided a $26 million loan to Chapman Place LLC for the refinancing and lease-up of Chapman Place Apartments Point Loma submarket. The