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Stenson of Brax Realty sells $4.4 million 12-unit Kips Bay Building
July 11, 2023
Manhattan, NY Alan Stenson of New York City based investment sales brokerage firm Brax Realty has completed the sale of 228 East 25th St. in Kips Bay for $4.4 million
Catching up after the pandemic - by C. Jaye Berger
July 25, 2023
The pandemic has caused a lot of co-ops and condominiums to not embark on repair and maintenance projects unless absolutely necessary. As buildings consider what they need to do, the first thing is to prioritize what needs to be done and where the money is going to come from to pay for it.
Fairstead sells 538-unit Dunbar
Apartments for $86.75 million
July 25, 2023
Manhattan, NY Fairstead has sold the Dunbar Apartments, a 538-unit historic residential community located in central Harlem to Isaac Herskovitz for $86.75 million. Built in 1928, the 10-building complex occupies an entire city block enclosing a private
Philip-O’Neal of HPP elected treasurer of AIA National
July 25, 2023
Manhattan, NY Heather Philip-O’Neal, principal of HPP International LLC, an architecture and design firm, has been elected treasurer of AIA (American Institute of Architects) National. Philip-O’Neal has over 20 years of experience
AMA Group partners with SJP Properties on new 120,000 s/f New Jersey property
July 11, 2023
Roseland, NJ AMA Group, a nationwide industry leader committed to providing technologically sophisticated and solution-oriented engineering design and implementation, partnered with SJP Properties, a long-time client, on a brand new 120,000 s/f office space at 105 Eisenhower Pkwy
K/BTF New City renovates New City Center;
Shoprite leases 55,900 s/f
July 25, 2023
Clarkstown, NY K/BTF New City LLC has completed the modernization of New City Center, located at 66 N. Main St., New City. A new long-term lease has been signed with Shoprite, a supermarket chain, to transform their 55,900 s/f store into
Eastern Union closes $62.25 million construction loan for new Lidl supermarket
July 25, 2023
Brooklyn, NY Eastern Union has secured a $62.25 million construction loan for a 105,000 s/f, mixed-used property in Crown Heights that will be home to a new, 33,000 s/f Lidl discount supermarket.
Greyhill Group expands portfolio with $22.5
million acquisition of Mill Hollow Apartments
July 25, 2023
Altamont, NY Greyhill Group has acquired Mill Hollow Apartments, an 84-unit multifamily property at 48 Bavarian Way. The class-A apartment complex is located about 20 miles west of Albany.
Slate Property Group closes $160 million bridge loan for Namdar Group 618 Pavonia Ave in Jersey City...
July 11, 2023
Jersey City, NJ Slate Property Group announced that its lending arm, SCALE, has provided Namdar Group with a $160 million bridge loan for 618 Pavonia Ave. in the Journal Square neighborhood. The bridge loan will be used to retire $120 million in construction financing and fund the lease-up and stabilization of the 27-story, 432-unit residential building
How community engagement drives more equitable outcomes in the design process - by Gray Dougherty
July 11, 2023
New projects and buildings have wide-ranging effects on surrounding communities, ecosystems, and businesses. They impact the physical and mental well-being of individuals, the equitable distribution of economic resources, and future business opportunities. When a developer doesn’t seek out meaningful community input, they risk alienating neighborhoods and locals, while also missing a great opportunity to enrich the design impact
BHI provides $27.34 million Senior Secured construction loan to 13th Floor Homes LLC
July 11, 2023
Port St. Lucie, FL BHI, a full-service commercial bank, announced that it has provided a $27.343 million Senior Secured construction loan to 13th Floor Homes LLC to finance enhancements to and completion of Villas of Torino, a multi-family
Meridian Capital Group arranges $48 million in financing to refinance a multifamily portfolio
July 11, 2023
Bayonne, NJ Meridian Capital Group has arranged $47.9 million in financing to refinance a portfolio of multifamily properties. The five-year loan features 24 months of interest-only payments, a five-year extension option, and was provided by a balance sheet lender. Meridian managing director, Judah Hammer, and vice president, Daniel Neiss, who are both based in the company’s New York
Rockabill Consulting secures $22 million for St. Francis Friends of the Poor to finance the reha...
July 11, 2023
Manhattan, NY Rockabill, a leading consultant and development partner for the affordable and supportive housing industry, announced that it has secured $22 million in financing on behalf of its client St. Francis Friends of the Poor, a nonprofit that pioneered the permanent supportive
Fisher Brothers unveils Wynhouse Miami, mixed-use multifamily development
July 11, 2023
Miami, FL Fisher Brothers, a fourth-generation real estate company that owns, manages and operates spaces across the country, announced the start of construction of Wynhouse Miami, a mixed-use multifamily development. Wynhouse Miami will rise eight stories and offer 308 rental residences, approximately 26,000 s/f of ground floor retail and paseo space and nearly 25,000 s/f of expansive indoor and outdoor
GFI Realty Services co-brokers a $15.75 million sale of 117-acre site in Palmdale, CA
July 11, 2023
Palmdale, CA GFI Realty Services, LLC has closed on the $15.75 million sale of a 117.38-acre development site. Trader Joe’s is constructing a 1.03 million s/f distribution facility on the parcel with completion anticipated by the end of 2024. The GFI Realty Institutional Advisory team of Managing Director, Joshua Peck and Group Director, Susan Annis co-brokered this
Verada leases retail space to Bouldering Gym in New Haven
June 27, 2023
New Haven, CT Verada, a Brooklyn based boutique real estate firm specializing in commercial retail space leasing and sales, announced Retail at Square 10, a new development. The Square 10 project offers a total of 12,500 s/f of commercial retail space, divided into three&
Basis Investment Group relocates to 180 Maiden Ln.
July 25, 2023
Manhattan, NY CRE investment platform Basis Investment Group will relocate its FiDi headquarters from 75 Broad St. to 180 Maiden Ln. Basis will occupy 10,091 s/f on part of the 32nd floor of the waterfront 41-story office tower
An inside look of the transformative new tax incentive program to re-imagine Manhattan CBDs
July 11, 2023
Manhattan, NY BOMA New York board of directors received a private presentation to review the specifics of the newly announced M-CORE program developed by the NYC Economic Development Corp. and the NYC Industrial Development Agency.