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Finkler joins Besen Partners as senior director
January 16, 2024
Manhattan, NY Samuel Finkler, formerly a senior vice president of TrueRate investment sales, has joined Besen Partners as a senior director, national investment sales. Finkler has sold over 50
Progress Capital arranges $19.7 million construction loan for self-storage facility
January 16, 2024
Rockaway, NY Kathy Anderson and Caillin Boles of Progress Capital secured a $19.725 million construction loan for the development of a self-storage facility on Rockaway Beach Blvd., owned by Dino Tomassetti, Jr. of Asset Realty & Construction Group.
Keep McGuinness running or keep McGuinness safe? How about both? - by Magal Gabay
January 16, 2024
As a resident of McGuinness Blvd. and being a new father, I get to walk around the neighborhood quite often. During the past few months, anyone who walks in Greenpoint couldn’t miss the signs supporting and opposing the new plan to redesign McGuinness Blvd.
Highcap Group and Meridian Capital sell
40,000 s/f for $22 million
January 16, 2024
Manhattan, NY The original Barney’s flagship location at 115 7th Ave., has been sold, from the lender Argentic Management who took over the property after foreclosure to an undisclosed group of investors for $22 million in a closing
Eastern Union secures loans from 126 lenders in 2023
January 16, 2024
Manhattan, NY Eastern Union placed and closed loans with 126 lenders in 2023. Additionally, reflecting the company’s geographic reach, Eastern Union closed transactions in
Houlihan Lawrence Commercial sells two warehouses - $18.5 million
January 16, 2024
Brewster, NY Houlihan Lawrence Commercial brokered the sale of 18-19 Fields Ln. This exclusive listing was represented by John Ravetto.
Deregulating a rent stabilized property by “Substantial Rehabilitation” - by Steven Kirkpatrick
December 26, 2023
Following enactment of the Housing Stability and Tenant Protection Act of 2019 (HSTPA), “substantial rehabilitation” is one of the only remaining ways that an owner can deregulate a rent stabilized building. The scope of work required for a substantial rehabilitation is essentially a gut renovation
Fisher Brothers and J.P. Morgan Global Alternatives lease
765,000 s/f to Paul, Weiss at 1345 Ave...
January 16, 2024
Manhattan, NY According to Fisher Brothers and J.P. Morgan Global Alternatives, Paul, Weiss, Rifkind, Wharton & Garrison LLP has signed a 20-year, 765,000 s/f lease at 1345 Avenue of the
SCALE Lending issues $243 million in loans on two new residential developments
January 16, 2024
Jersey City, NJ SCALE Lending has finalized two cross-collateralized loans totaling $243 million with Namdar Group for two multifamily buildings in Journal Sq. SCALE issued a $160 million construction loan for Namdar Group
Red Oak Capital Holdings provides $5.8 million bridge loan for affordable housing
January 16, 2024
Washington, DC Red Oak Capital Holdings, LLC has provided a $5.8 million bridge loan for the Hawaii Ave. Apartments, a pair of multifamily buildings. The funds will be used to acquire and rehabilitate the properties into 22 multifamily units to be rented
Cronheim Mortgage secures $11 million life-co financing for Walmart anchored Marketplace at Cinnamin...
January 16, 2024
Cinnaminson, NJ Cronheim Mortgage has secured $11 million for the refinancing of the Marketplace at Cinnaminson, a 328,000 s/f Walmart-anchored shopping center. Andrew Stewart, Dev Morris, and Allison Villamagna collaborated to
Paulus Development, LeChase Construction, CPC and JPMorgan Chase celebrate $40m revitalization of th...
January 16, 2024
Johnson City, NY Broome County and the village of Johnson City celebrated the ribbon cutting of the Endicott-Johnson Victory Factory, hosted by Paulus Development, LeChase Construction Services, The Community Preservation Corp. (CPC) and JP
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Cappelli Development Company begins leasing at 241-unit residential tower - Encore
January 16, 2024
New Rochelle, NY Cappelli Development Company has opened and commenced leasing at Encore, a 28-story residential tower directly across Centre Ave. from 3THIRTY3 featuring 241 luxury apartments and an array of amenities and services.
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Skanska completes first phase of East River Waterfront Esplanade
January 16, 2024
Manhattan, NY Skanska has completed the first phase of the East Midtown Waterfront Esplanade and East River Greenway development along FDR Dr. The project, awarded to Skanska by New York City Economic Development Corp. (NYCEDC) in 2019
NYSCAR professional development courses available via Zoom
January 16, 2024
Albany, NY NYSCAR professional development courses available via Zoom.January 24, 9:00 am – 12:45 pm, 3.5 hours c.e. credit. Commercial Real Estate Ethics (includes one hour of agency) with Edward Smith, Jr.
FirstService Residential names Dunmore president of New York operations
January 16, 2024
Manhattan, NY FirstService Residential, the leading residential property management company, appointed Steve Dunmore president of its New York operations. In this role, Dunmore will oversee all aspects of FirstService Residential’s New York operations, leading a team of over 500 property management professionals across the metro area.
Giniecki of Foresite Realty Advisors
January 16, 2024
Schenectady, NY Sadly, on December 21, 2023, we lost NYSCAR friend and colleague, Robert Giniecki, CCIM, SEC (Foresite Realty Advisors). As a founding board member of NYSCAR and steadfast supporter through the years, Giniecki worked
NYSCAR president’s message: A look back and ahead - by Robert Strell
January 16, 2024
I’d like to thank everyone for their support during 2023. NYSCAR has always strived to provide the membership with comprehensive networking/marketing opportunities and quality commercial education.
Pyramid Management Group secures loan extension on 1.7 million s/f Crossgates
January 16, 2024
Albany, NY Pyramid Management Group has worked with its lenders to extend the loan on its Crossgates property for five years. Crossgates is a 1.7 million s/f enclosed shopping center that generates $400 million in annual sales with nearly 10
Monadnock Development, CB Emmanuel and Equity Developers close $256 million finance
January 16, 2024
Brooklyn, NY Monadnock Development, CB Emmanuel Realty, and Equity Developers closed on $256 million in financing for the development of Utica Crescent, an affordable housing project in East Flatbush, that will transform an underutilized parking lot
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