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Newmark arranges $114 million construction financing
August 15, 2023
Manhattan, NY On behalf of Aurora Capital Associates, Newmark arranged a $114 million construction loan for the ground-up development of 140 Jane St., an 11-story, 15-unit, condominium project located in the West Village.
Stenson of Brax Realty sells 12-unit apartment building for $4.4 million
August 15, 2023
Manhattan, NY Alan Stenson of Brax Realty has completed the sale of 228 East 25th St. in Kips Bay for $4.4 million.
Rhine Legacy finances $6.8875 million bridge loan for industrial asset
August 15, 2023
Newburgh, NY Rhine Legacy Capital secured a bridge loan of $6,887,500 for the acquisition of a prominent industrial asset at 392 North Montgomery St.
Rockabill secures $22 million for Saint Francis Friends of the Poor renovation and modernization of ...
August 15, 2023
Manhattan, NY Rockabill secured $22 million in financing on behalf of its client St. Francis Friends of the Poor, a nonprofit that pioneered the permanent supportive housing movement in New York City.
Savills secures 34,325 s/f lease for VTS at 3 Bryant Park
August 15, 2023
Manhattan, NY Savills has secured a six-year, 34,325 s/f lease for client VTS, a leader in the commercial real estate industry’s proptech space. VTS will occupy the entire 14th floor at 3 Bryant Park, subleasing its new office from Salesforce.
Global Holdings launches leasing at Anagram Columbus Circle
August 15, 2023
Manhattan, NY Global Holdings has started leasing at its newly-developed luxury rental property, Anagram Columbus Circle, a 26-story residential tower, located near Central Park.
Prusik Group, BRP Companies, L+M Development Partners, Goldman Sachs Urban Investment Group, and Tac...
August 15, 2023
Manhattan, NY A joint venture of The Prusik Group, BRP Companies, L+M Development Partners, Goldman Sachs Urban Investment Group, and Taconic Partners, announced the newest tenants of 121 W 125th St. – beauty and make-up retailer Sephora and luxury jewelry retailer Pandora. Sephora signed a lease for its new location on the ground floor, expected to open in winter of 2023. Pandora signed a 2,000 s/f lease
Shawmut Design and Construction reaches two million dollars raised for Pan-Mass Challenge
July 25, 2023
Boston, MA Shawmut Design and Construction, a leading $1.3 billion national construction management firm, participated in the 2023 Pan-Mass Challenge (PMC), marking the sixteenth consecutive year the firm has partaken in the two-day bike-a-thon in Massachusetts. This year, Team Shawmut has raised almost $100,000 and counting—accumulating over two million dollars in total fundraising to support Dana-Farber Cancer
August 2023 message from the president of NYSCAR - by Robert Strell
August 15, 2023
One of the goals I have as president is to visit the NYSCAR chapters throughout the state. Many thanks to the Southern Tier chapter leadership, Hudson Valley and Long Island,/NYC leadership for the courtesies extended to me during my recent visits with them. It was a great opportunity to talk to the members about common areas
2023 Hudson Valley apartment market - by Brian Heine
August 15, 2023
Rent control is coming to the Hudson Valley apartment market. Socialists in the New York state legislature are pushing to pass statewide rent control later this year in the form of the Good Cause Eviction bill. The bill would make it near impossible for building owners to evict tenants for almost any reason and add caps to rent increases for market
M&T Bank appoints new leadership
August 15, 2023
Buffalo, NY M&T Bank has made leadership updates in its commercial bank which are designed to support its ongoing evolution and commitment to providing support to its clients and communities. These changes include the following promotions and new hires:
Phillips of Largo Capital arranges refinancing for 11,000 s/f
August 15, 2023
Buffalo, NY Jack Phillips, principal at Largo Capital, Inc. secured a permanent first mortgage to refinance the existing debt on a mixed-use property. The property features over 11,000 s/f of commercial space and 50 residential units. In addition, the property offers access to local amenities as well as major highways including
Greater Binghamton Chamber recognizes young professionals at HYPE event
August 15, 2023
Endwell, NY The Greater Binghamton Chamber of Commerce honored nine young professionals and one mentor to a young professional at the Riverdale Banquet Hall. The HYPE Awards highlight professionals under the age of 30 who have demonstrated success in their career and industry in addition to making a significant positive
Axiom Capital funds $8.6 million loan
for 107,245 s/f retail property
August 15, 2023
Colonie, NY Axiom Capital Corp. has structured and arranged a $8.6 million permanent loan (five year with five-year extension option, fixed rate, non-recourse) for the refinance of a retail plaza located in the Latham area of town.
Serendipity Labs impacts Buffalo office
market with 90% occupancy
August 15, 2023
Buffalo, NY Serendipity Labs has reached 90% occupancy at their 19,000 s/f, downtown location. Opened in 2021, and operating from the 29th floor of Seneca One, Serendipity Labs has been met with excitement as the business community identified the concept as the perfect solution for a balanced environment
Perlman of Largo Capital arranges $7.4 million for seven industrial properties
August 15, 2023
Buffalo, NY Ned Perlman, vice president of originations at Largo Capital, Inc., arranged $7.4 million in financing for a portfolio of seven industrial and manufacturing properties located mainly throughout Upstate New York. Perlman secured a limited recourse 18-year self-amortizing deal through one of
KeyBank provides $21 million financing for
61-unit Community View Apartments
August 15, 2023
Morrisville, NY KeyBank Community Development Lending and Investment (CDLI) provided a $9 million construction loan and $12 million in Low-Income Housing Tax Credit (LIHTC) equity for the construction of an affordable senior housing property.
JLL and Steel Equities close sale of 26.4 acres of developable land and pad sites
August 15, 2023
Oyster Bay, NY JLL Capital Markets (JLL) has closed the sale of 195 North Bdwy., a 26.4-acre, development opportunity located in the populated hamlet of Hicksville, Nassau County. JLL worked on behalf of the seller and Steel Equities acquired the asset.
Cannabis and lending - by Lindsay Mesh Lotito
August 15, 2023
Would there be a better business landscape today for the cannabis industry had Thomas Jefferson’s concept for the U.S. banking system prevailed in 1791? At the inception of our country, there was a bitter rivalry between those that favored states’ rights and those that supported a strong central
Greystone reimagines homestead into assisted living and memory care community with $25.193 million l...
August 15, 2023
Islip, NY A historic homestead in Long Island’s Bay Shore will be the site of a new assisted living and memory care community, Netherbay, financed by a HUD-insured loan from Greystone. This transaction marks the only healthcare construction loan in the United States approved by HUD in 2022, at $25.193 million
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