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Commercial Classroom: 1031 tax deferred exchanges part 2 - by Edward Smith
September 12, 2023
The sale of real estate held for more than 12 months triggers Capital Gains taxes on the Net Profits of that sale. These taxes may be deferred by participating in a 1031 Tax Exchange, in essence, by purchasing property(s) to replace the one(s) being sold. However, there are stringent rules and timetables that must be complied with. This applies to the sale of commercial or investment property, but not your personal residence
REI at SBU College of Business hosts joint panel event on "Reimagining the Modern Office Space"
September 12, 2023
Farmingdale, NY The Real Estate Institute (REI) at Stony Brook University (SBU) College of Business will hold a joint panel event on October 20th, 2023. The Fall Luncheon, titled "Reimagining the Modern Office Space," promises an exploration of the evolving landscape of work environments.
Aurora Capital Associates & Midtown Equities collaborate with Newmark to secure a $90 million refina...
September 12, 2023
Brooklyn, NY On behalf of a Joint Venture led by Aurora Capital Associates, Midtown Equities and ACHS Management (collectively the “Sponsorship” or “Sponsor”), Newmark successfully arranged the $90 million refinancing for 240
MBA of NY scholarship foundation 2023 scholarship recipients announced
August 29, 2023
The Mortgage Bankers Association of New York Scholarship Foundation (the “Foundation”) has awarded seven scholarships for the Fall 2023 Semester
Hach of Refined facilitates an $8.4 million senior participation
August 29, 2023
Brooklyn, NY Joe Hach, partner at Refined, has successfully arranged a senior participation of $8.4 million
DIGroup Architecture is honored at inaugural Empowering Women 2023 Awards
August 29, 2023
strong>Somerset, NJ DIGroup Architecture (DIG) recently joined more than 50 companies, organizations and individuals being celebrated at the Inaugural Empowering Women 2023 Awards. The flagship event was held at the Doubletree by Hilton Somerset to recognize those
Katz & Associates represents 85°C Bakery Cafe in expansion
August 29, 2023
Englewood, NJ 85°C Bakery Cafe, with more than 1,000 stores worldwide, is setting its sights on the U.S. East Coast. The Taiwanese bakery cafe has retained Katz & Associates for a U.S. East Coast expansion. Katz’s Amy Staats is representing 85°C Bakery
Standard Communities leads public private partnership acquiring 100% affordable community in Hawaii
August 29, 2023
Honolulu, HI Standard Communities, a major national affordable housing investor and developer, has led a public-private partnership with the State of Hawaii, United States Department of Housing and Urban Development (HUD), Honolulu-based Stanford Carr Development
CBRE appoints Barr to lead Americas retail leasing
August 29, 2023
Dallas, TX CBRE announced that it has appointed industry veteran Laura Barr as Americas Retail Leader for its Advisory & Transaction Services line of business. In this role, Barr is responsible for CBRE’s Retail leasing growth strategy and
Denholtz acquires luxury apartment complex for $89 million
August 29, 2023
North Bergen, NJ Denholtz has purchased a North Bergen apartment complex with 214 apartments for $89 million dollars. The complex, "Solo at North Bergen" at 4828 Tonnelle Ave., features one five-story building with 76 units and 3 three-story buildings
Crystal Windows preserve OMNI Shoreham Hotel
August 29, 2023
Washington, DC The site of 22 U.S. Presidential inaugural celebrations and much Washington, DC history, the OMNI Shoreham Hotel recently was renovated with over 3,100 modern energy efficient Crystal Window & Door Systems products. The manufacturer supplied the
Ariel Property Advisors hosts summer coffee & Cap rates event, "Discovering The Upside:Exploring Opp...
August 29, 2023
Manhattan, NY Around 150 professionals gathered in on July 20th to attend Ariel Property Advisors’ Summer Coffee & Cap Rates event, “Discovering the Upside: Exploring Opportunities
Statewide Abstract raises $75,000 for St. Jude Children’s Research Hospital with 5th annual golf o...
August 29, 2023
White Plains, NY Statewide Abstract Corporation raised $75,200 at the 5th Annual St. Jude Scramble Charity Golf Outing held on June 26th at Westchester Hills Golf Club in White Plains. This
Newmark secures $500 million investment for cold storage platform, Envision
August 29, 2023
Newmark announces the firm has recently raised $500 million from an institutional investor to capitalize a new cold storage operating and development platform, Envision Cold (Envision). This investment allows Envision to acquire and develop over $1.5 billion of cold storage assets
Hudson Valley Property Group hires
Azizo, Cooper and Marcelin
September 12, 2023
Manhattan, NY Hudson Valley Property Group (HVPG) has hired Ezra Azizo and Miles Cooper as asset managers and Chuck Marcelin, GPHR, as the firm’s newest director of human resources. All three new hires will be based in HVPG’s New York City headquarters. As the firm’s new director of human resources, Marcelin will oversee the day-to-day HR processes for the team, including leading recruitment efforts, executing and implementing people & culture strategies
Kintzer of Royal Properties brokers sale
of 16,400 s/f Tesla building
September 12, 2023
Mount Kisco, NY Royal Properties, Inc. brokered the sale of the Tesla Store & Service Center located at 115 Kisco Ave. The 16,400 s/f property is fully occupied by Telsa under a long-term net lease and sits on 0.92 acres. The site is situated along Kisco Ave., which sees 12,638 cars per day,
AmTrust signs Worldwide TechServices to 5,467 s/f lease at 250 Broadway
September 12, 2023
Manhattan, NY AmTrust RE has completed a 5,467 s/f lease transaction with Worldwide TechServices at 250 Bdwy., a 648,000 s/f office property. Anne Holker, AmTrust RE’s managing director of leasing and acquisitions, represented both parties in the transaction. Located across the street from City Hall Park, 250 Bdwy. offers companies an ideal headquarters location with access to a wealth of transportation options.
SL Green Realty leases 21,640 s/f to BlueCrest Capital at 450 Park Ave.
September 12, 2023
Manhattan, NY According to SL Green Realty Corp., BlueCrest Capital Management, a leading British-American hedge fund, has signed a new 15-year, 21,640 s/f lease covering the entire 30th and 31st floors at 450 Park Ave. “We are proud to welcome BlueCrest Capital Management,” said Steven Durels, SL Green’s executive vice president, director of leasing and real property.
McAllister of Statewide Abstract raises money for HGAR Foundation biking 142 miles
September 12, 2023
White Plains, NY Matt McAllister, COO of Statewide Abstract, recently participated in a grueling 142-mile bike race in Colorado to raise money to benefit the Hudson Gateway Realtor Foundation (HGRF). McAllister, who is also an agent with Corcoran Baer & McIntosh in Nyack,
Derby Copeland provides $9.85m loan for acquisition of 414-416 West Bdwy.
September 12, 2023
Manhattan, NY Derby Copeland Capital (DCC) closed a $9.85 million loan in connection with the acquisition of a mixed-use property located at 414-416 West Bdwy. in Soho. The purchase price was $13.2 million.
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