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Question of the Month: What is a Uniform Land Use Review Procedure (ULURP)? - by Christopher Wright
February 14, 2023
The New York City Zoning Resolution was enacted in 1961 to provide the city with a comprehensive urban planning scheme consisting of different zoning designations based on a property’s location within a neighborhood. The drafters of the Zoning Resolution understood that NYC’s urban landscape would evolve over time.
Duval & Stachenfeld change name to Adler & Stachenfeld
February 14, 2023
New York, NY Duval & Stachenfeld LLP, the Pure Play in Real Estate Law, has changed its name to Adler & Stachenfeld LLP (A&S) In its first 25 years, led by managing partner, Terri Adler, and chairman, Bruce Stachenfeld, the firm built a reputation as one of the most respected and sophisticated law firms serving the real estate industry.
Tishman Speyer welcomes Baker Tilly and SEB to The Spiral
February 14, 2023
New York, NY Tishman Speyer has secured agreements with Baker Tilly US, LLP (Baker Tilly) and Skandinaviska Enskilda Banken, AB (SEB) to move their offices to The Spiral, its recently-completed 66-story office tower. Advisory CPA firm Baker Tilly signed a long-term lease to occupy 28,000 s/f on a portion of The Spiral’s 22nd floor beginning in mid-2023.
Rémy Cointreau signs 10-year 29,852 s/f lease at 3 Times Square - arranged by Rudin Management and ...
February 14, 2023
New York, NY Rudin, one of New York City’s largest private owners, operators and developers of real estate, has approved the 10-year lease Rémy Cointreau has signed, consisting of 29,852 s/f at 3 Times Sq., a premier 30-story midtown skyscraper currently undergoing a multi-million dollar renovation and repositioning.
Zollinger hired as principal for Elegran R.E. to support sales and development
February 14, 2023
New York, NY Elegran Real Estate, a tech-driven brokerage firm has hired real estate executive Eric Zollinger as its new principal. >Zollinger will focus on supporting the sales and new development department, driving quality growth and elevating the Elegran brand. He will also grow the firm’s partner program and help generate international business opportunities.
Avanath acquires 7 DeKalb - 251-unit property for $101.25m
February 14, 2023
Brooklyn, NY Avanath Capital Management, LLC (Avanath) has completed the acquisition of 7 DeKalb, a 251-unit multifamily property for $101.25 million.
JLL completes two leases totaling 32,293 s/f at 452 Fifth Ave.
February 14, 2023
Manhattan, NY JLL has completed two leases totaling 32,293 s/f on behalf of Property & Building Corporation Ltd. (PBC) at 452 Fifth Ave., the 30-story glass tower located near Bryant Park.
Company of the Month: Greenwich, CT-based family office, Lancewood Capital, emerges as a sizable pro...
February 14, 2023
Greenwich, CT Lancewood Capital, founded in 2014 by a family office, has become increas-ingly more active in the first lien real estate credit space. The company was founded by the family office to produce safe risk-adjusted returns for capital generated from other businesses ventures.
Cord Meyer Development signs five leases totaling 13,138 s/f
February 14, 2023
Queens, NY Cord Meyer Development Co. signed three restaurant tenants at its Bay Terrace Shopping Center in Bayside, and two more restaurants at commercial properties owned by the company in Forest Hills according Cord Meyer vice president leasing Matthew O’Grady.
As markets remain uncertain, institutional investors are confident in real estate investments and tu...
February 14, 2023
Institutional investors, such as insurance companies and pension funds, are weighing their options in the real estate market when making key decisions about allocating investments. In today’s climate of uncertainty around economic recovery rates, inflation levels, and interest rates––real assets offer an attractive potential for these large portfolios to reduce risk while at the same time improving returns.
Avison Young arranges eleven leases at 21 West 38th St. and 330 East 59th St. for full occupancy
February 14, 2023
New York, NY Avison Young has arranged 11 new leases and two lease renewals at 21 West 38th St. and 330 East 59th St., bringing both buildings to 100% occupancy. The leases total 50,000 s/f for 21 West 38th St. and just over 10,000 s/f at 330 East 59th St.
Habyt and Common merge to become a leading global co-living operator
February 14, 2023
New York, NY Habyt, one of the biggest co-living operator in Europe and Asia, and Common, one of the largest co-living operator in North America, will be merging to create one of the leading global co-living company.
Featured Columnist: Media interviews serve industry, promote business during tough market conditions...
February 14, 2023
With office buildings less than half full, according to one recent report, it is time for you to join the conversation and share expertise, advice and solutions with the real estate community and business and consumer worlds at large. Setting and accomplishing this goal will most definitely build awareness of you and your business but even more importantly will provide the opportunity to place your own ideas in play while rendering a significant service to the industry and public at large.
NYC’s top chefs to join chef Boulud at REBNY’s annual event
February 14, 2023
New York, NY The Real Estate Board of New York (REBNY) will be bringing on more of New York City’s top chefs to participate in the night’s world-class culinary experience at their upcoming annual event.
Rosewood Realty sells eight-building Harlem portfolio for $17.65 million
February 14, 2023
Manhattan, NY Rosewood Realty Group has sold off its eight-building Harlem portfolio for $17.65 million to an undisclosed private investor.
Grassi Advisors & Accountants promotes four principals to partner
February 14, 2023
Jericho, NY Grassi Advisors & Accountants has promoted four principals to partner. Timothy Coners, CPA, MST advises clients on tax planning, projections and compliance on the federal, state and local levels.
Camber Property Group closes on 187 units totaling $56.4 million in Bronx properties
February 14, 2023
Bronx, NY Camber Property Group has closed on two 100% affordable properties, preserving and extending affordability for 187 units totaling $56.4 million, furthering its impact-driven investment strategy and Environmental, Social and Governance (ESG) focus.
Partnership for New York City announces 2023 class of David Rockefeller Fellows
January 31, 2023
The Partnership for New York City has announced the 2023 class of David Rockefeller Fellows, an immersive one-year program in which business executives learn how decisions are made, services delivered, and power is exercised in the nation’s largest
Lynx Mortgage Bank LLC is now licensed in FL
January 31, 2023
Lynx Mortgage Bank LLC in now licensed in the state of Florida. Since 2004, Lynx has been a direct conventional and FHA HUD-approved lender, proudly serving the State of New York. Lynx is excited to bring their superior service and “no surprises
Berkadia secures programmatic equity for Sterling Group apartment communities recapitalization
January 31, 2023
Berkadia has secured programmatic equity from a global institutional investor to finance Indiana-based The Sterling Group’s recapitalization of three apartment communities located in North Carolina, South Carolina and Tennessee. Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt of Berkadia JV