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Friedman-Roth Realty Services broker the sale of 405 W 45th St.
April 25, 2023
Manhattan, NY Jim Mann and Wells Newell of Friedman-Roth Realty Services have brokered the sale of 405 West 45th St. The building has 30 apartments with 20 free market and 10 rent stabilized units. The deal closed at a price of $8.5 million or $400 per s/f, with an approximate 6% cap rate and a gross rent multiple of 10. The seller purchased the property in 1998
2023 Ones to Watch Rising Stars: Jordan Ades, Dansker Capital Group
May 16, 2023
Number of years at firm: 1 When I am not working, I am: Exploring New York City’s top restaurants, engaging in adult softball and hockey leagues, and spending quality time with friends and family.
2023 Ones to Watch Rising Stars: Gabriella Schwalbe, Besen Partners
May 16, 2023
Number of years at firm: 1 year One thing on my bucket list: Visit every continent! When I am not working, I am: Teaching community hot yoga classes at Bode NYC. I recently obtained my Hot Yoga 26+2 certification and hope to be part of their regular class schedule soon.
2023 Ones to Watch Rising Stars: Ingrid Stack, Stack Electric of New York, Inc.
May 16, 2023
Number of years at firm: 5 What recent project, transaction or accomplishment are you most proud of? I have spent the past year as a trusted master electrician leading major commercial project build outs including fortune 500 HQ’s throughout NYC.
2023 Ones to Watch Rising Stars: Emily Lettieri, Connect Commercial Real Estate
May 16, 2023
Number of years at firm: 6.5 What recent project, transaction or accomplishment are you most proud of? Connect served as a full-service agency for KBS Direct – KBS’ direct investment platform.
2023 Ones to Watch Rising Stars: Jake Misisco, Lionheart Strategic Management, LLC
May 16, 2023
Number of years at firm: 7 One thing on my bucket list: Visit Egypt – the pyramids and hieroglyphs are fascinating, and I would love to travel and see them myself. What recent project, transaction or accomplishment are you most proud of? Over the course of my career at Lionheart, I’ve originated and assisted on almost $1.4 billion of loans, which I’m very proud of.
2023 Ones to Watch Rising Stars: Chris O'Connor, Reidy Contracting Group
May 16, 2023
Number of years at firm: 11 One thing on my bucket list: Attend the tuna auction in Tokyo When I am not working, I am: Exploring the city, whether it is a new restaurant, concert, or park there is so much to take advantage of.
Cronheim arranges $12 million for 180-unit garden style apartment community in Morristown, NJ
April 25, 2023
Morristown, NJ Cronheim Mortgage has secured $12 million in permanent financing for Lindsley Arms Apartments, a 180-unit garden-style apartment community. Andrew Stewart, Dev Morris,
Katz-Erato joins Forchelli Deegan Terrana LLP as a Partner
April 25, 2023
Forchelli Deegan Terrana LLP (“FDT”) has welcomed Cheryl Katz-Erato as a partner in the firm’s Tax, Trusts & Estates practice group. Her practice includes trusts and estates litigation, estate
Collado Engineering announce Quintanilla as new Principal
April 25, 2023
Collado Engineering has announced the promotion of Miguel Quintanilla, PE, to Principal.
REBNY Manhattan office building visitation report shows prime class A buildings continue to post hig...
April 25, 2023
The Real Estate Board of New York (REBNY) released analysis of Q1 2023 Placer.ai location data in 250 Manhattan office buildings representing approximately 180 million s/f. The report, the first in what will become a regular quarterly report from REBNY, highlights a year-over-year increase in building visitations
Commercial Classroom: Back to basics of office buildings - by Edward Smith
May 16, 2023
Users or investors may purchase office buildings. Or tenants may lease part or all of a building. In all cases customers want to know the overall size and type of building. Most office buildings are classified as A, B or C, others are designed specifically for medical use.
Brookhaven IDA closes on benefits package for $162 million Yaphank warehouse development
May 16, 2023
Yaphank, NY Frederick Braun III, chairman of the Town of Brookhaven Industrial Development Agency (IDA) has closed on a package of economic incentives for a Yaphank warehouse project proposed by a New York City developer.
Strategies for reducing your property taxes in a troubled market - by Margo Tiffen
May 16, 2023
Retail and office owners are facing numerous challenges to remain profitable. During the pandemic, office occupancy rates plummeted due to the combined rise of the gig economy and the shift to remote work. Retail businesses, especially those that support office workers, have
Cushman & Wakefield arranges 17,731 s/f lease for Trinity Solar
May 16, 2023
Plainview, NY Cushman & Wakefield has arranged a 17,731 s/f lease for Trinity Solar, Inc. at 137 Commercial St. Cushman & Wakefield’s Robert Kuppersmith, Connor Sullivan, Scott Schubert and Dan Johnsen represented the tenant in the transaction.
Gottlieb of Schuckman facilitates $2.85m sale of 332 Atlantic Avenue - property and car wash
May 16, 2023
Oceanside, NY Schuckman Realty has sold a commercial property and car wash located at 332 Atlantic Ave. The property and car wash, which is located on the corner of Atlantic Ave. and Rockaway Ave., consists of a 3,000 s/f building on a 15,000 s/f lot.
Achieve sustainability and emission compliance goals with alternative fuels and advanced technologi...
May 16, 2023
Building owners and operators across New York are now faced with the need to comply with a host of new emission regulations coming from federal, state, and local governments. There are also industry standards and guidelines intended to reduce CO2 emissions, for example:
Urban Edge Props. signs retail stores to Huntington Commons’ new redevelopment
May 16, 2023
Long Island, NY Urban Edge Properties has signed Burlington to a long-term lease at Huntington Commons. This addition fills a vacancy created when Marshalls relocated to an updated space within the center. Prime Urgent Care has been signed to a 3,112 s/f lease
Intended vs. incidental third-party beneficiary status - by Bret McCabe
May 16, 2023
During the course of real estate development and construction operations, one issue that may arise during contract negotiation (and potential subsequent litigation) is whether or not the parties intend(ed) to confer beneficiary status to a non-signatory third-party.
Simone Dev. arranges three leases at Post Road Plaza for over 4,000 s/f
May 16, 2023
Port Chester, NY Simone Development Companies has signed on three new retail tenants that have leased more than 4,000 s/f of retail space at Post Road Plaza at 262 Boston Post Rd. The 63,000 s/f strip center, anchored by a 40,572 s/f stand-alone LA Fitness, has been renovated and new signage
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