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Community Commercial closes
two retail leases - 2,200 s/f
September 12, 2023
Merrick, NY Community Commercial, under the guidance of broker Todd McIndoo, has concluded two retail lease transactions at 65 Merrick Ave., on behalf of Jam Realty Enterprises LLC from Garden City, NY, the property’s owners.
PWC-NY to host annual Salute to Women of Achievement - Sept. 20th
September 12, 2023
Manhattan, NY On September 20th, Professional Women in Construction (PWC) will be hosting their annual Salute to Women of Achievement event where they will be honoring their 2023-2024 scholarship recipients. The PWC Scholarship Program recognizes six emerging students pursuing a degree in the AEC industry.
Rudin appoints O’Connor senior vice president
September 12, 2023
New York, NY Rudin, a full-service real estate organization, has hired industry veteran Drew O’Connor as senior vice president, head of commercial property management.
Understanding the rising cost of HOA insurance - by Tyler Schlapkohl
September 12, 2023
Homeowners association (HOA) insurance plays a vital role in protecting and maintaining managed communities. These policies have long provided residents with essential personal and property coverage, along with peace of mind. However, one significant issue challenging HOAs nationwide is the dramatic rise in the cost of insurance premiums.
Hackett of Metro Realty Services handles four
sales totalling 18,005 s/f - $4.885 million
September 12, 2023
Huntington Station, NY Jeremy Hackett, managing partner / licensed real estate broker of Metro Realty Services, LLC, negotiated four sales transactions.
MNPP secures lease extension for 545 Madison - 30,094 s/f
September 12, 2023
New York, NY Marx Realty (MNPP) has unveiled 545 Madison’s luxury penthouse renovation renderings. Additionally, GTS Securities has signed a two-year lease extension for its 30,094 s/f space, distributed across the building’s 9th, 15th, 16th, and 17th floors.
The benefits of choosing ‘full service’ for your next building renovation - by Ron Fanish
September 12, 2023
Building renovations are some of the most complex and stressful undertakings that a building owner can face. There’s no shortage of decisions to make, from setting a timeline and determining a budget, to selecting materials and the right design. Meanwhile, time is of the essence: tenants can only be displaced for so long.
QuickBooks vs. property management software in New York - by Chris Ulep
September 12, 2023
Property management software for New Yorkers needs to be designed to handle their unique needs. While some have tried, it can be a substantial effort to take general accounting software such as QuickBooks and try to adapt it for property management. QuickBooks is arguably the best-known accounting software for small businesses in the country.
Fairstead, Project FIND and NYC Department HPD celebrate opening of Park 79 - affordable housing
September 12, 2023
Manhattan, NY Fairstead, Project FIND and the NYC Department of Housing Preservation & Development (HPD) celebrated the opening of Park 79, an 100% affordable senior housing development on the Upper West Side. In addition to its roles as property owner and property manager,
Incorporating AI responsibly into buildings - by Akram Khalis
September 12, 2023
It’s impossible to imagine the living, working and playing spaces of tomorrow without considering artificial intelligence (AI). After all, the rapidly democratizing technology has made itself at home in nearly every place we find humans today.
Executive of the Month: Jim Cinelli, P.E.,
President, Liberty Environmental
September 12, 2023
How did you get into environmental engineering? Since I was very young, I was interested in the flow of water – whether in natural streams or in man-made channels. My friends and I used to frequently play in a nearby stream, and float sticks down drainage ditches after storms.
Rose Associates and The Marmara Group continue leasing at 301 East 94th St.
September 12, 2023
Manhattan, NY Rose Associates has leasing underway at 301 East 94th St. The property, a complete re-imagination of an existing hotel that has been fully renovated and transformed into a brand-new rental development by Rose and the Marmara Group, offers 106 apartments in studio-, one-, two- and three-bedroom configurations.
Bayport Funding provides $3.35m construction loan for multifamily property conversion
September 12, 2023
Brooklyn, NY Bayport Funding has provided a $3.35 million acquisition and construction loan for the single-family conversion of a multifamily brownstone in Boerum Hill. The three-story, 2,576 s/f property was built in 1899 and comprises four bedrooms and three bathrooms.
Maintaining indoor air quality in New York amid wildfire smoke from Canada - by Eric Mitchell and D...
September 12, 2023
Smoke from Canadian wildfires had an astonishing presence in New York this summer, and, even though wildfire season traditionally ends in August, now is the time for property owners to plan for a possible future recurrence. Canadian wildfires are expected to be even worse in the future
First Citizens Bank’s RE Finance business provides $42.2m in financing for 112,400 s/f studio faci...
September 12, 2023
Yonkers, NY First Citizens Bank’s Real Estate Finance business, a division of CIT, provided $42.2 million in financing to a joint venture between National Resources and Great Point Media for the development of 1050 North Bdwy., a new entertainment production facility 100% pre-leased to MediaPro Studios.
Soloviev’s One United Nations Park 75% sold resulting in $260m in sales
September 12, 2023
Manhattan, NY The Soloviev Group’s development, One United Nations Park, the luxury residential tower in Midtown East located at 695 First Ave., is now officially 75% sold. With over $260 million in closed deals and signed contracts to date, One United Nations Park offers a collection of 148 condominium residences
Braverman Greenspun P.C. hires two attorneys
September 12, 2023
Manhattan,ny Braverman Greenspun P.C. has added two attorneys who each bring two decades of experience and extend the firm’s capabilities. Jillian Menna, a veteran insurance attorney, will assist clients with complex claims and other insurance issues. Daniella Zelefsky, a seasoned advisor on condo and co-op developments, will work with developer and condo board clients.
Arthur May Redevelopment Holdings development - 63-unit the Flats on Raymond ready for occupancy
September 12, 2023
Poughkeepsie, NY Arthur May Redevelopment Holdings, LLC (AMRH), an affiliate of Dutchess County-based PAZ Management, has slated its second building at The Arlington of Poughkeepsie, the Flats on Raymond, ready for occupancy. Located in the Arlington Town Center
JLL and HKS RE close on $41.5m acquisition for Cadence Property Group
September 12, 2023
Manhattan, NY Cadence Property Group, in a joint venture with HOH Capital Partners and Deal Lake Capital, has completed the acquisition of 360 West 52nd St. and contemporaneously closed on financing for a proposed condominium development at the site.
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Silverstein Properties and Metro Loft Mgmt. to convert 410,000 s/f office building to residential p...
September 12, 2023
Manhattan, NY Silverstein Properties and Metro Loft Management have commenced the acquisition of 55 Broad St., a 30-story office building in New York’s Financial District, for $172.5 million from the Rudin Family, who will retain an equity stake in the project.
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