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Hempstead IDA gives preliminary OK for upgrade of 875 Merrick Ave.
January 17, 2023
Westbury, NY Fred Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), said the agency has given preliminary approval to a package of economic development incentives that will assist a developer update a more-than-40-year-old office building.
Eastern Union secures $78.575 million loan to refinance 12 property portfolio
January 17, 2023
Bronx, NY Alex Jaffa, a senior loan consultant with Eastern Union, has arranged a $78.575 million loan to refinance a 1,017-unit portfolio of 12 multifamily properties consisting of 11 sites across nine New Jersey localities, along with one property in the Bronx.
GameChanger and Dick’s Sporting Goods lease 25,600 s/f at RAL’s Zero Irving development
January 17, 2023
Manhattan, NY According to RAL Development Services (RAL) Game-Changer and its parent company, DICK’S Sporting Goods, leased 25,600 s/f of office space at the building, taking the entire 17th and 18th floors at Zero Irving.
ERG delivers $5 million loan
January 17, 2023
Brooklyn, NY ERG Commercial Real Estate through an affiliate, delivered a $5 million cash-out refinance loan to the owner of a fully leased commercial cash flowing property containing five tenants.
Ezra, Schuster, and Paster of Newmark Retail lease 18,000 s/f in three new leases
January 17, 2023
Manhattan, NY Newmark Retail has secured three new leases on behalf of fashion retailer Express, Inc., totaling more than 18,000 s/f across 514 Broadway, 129 Fifth Ave. for two Express Edit stores and 107 Spring St. for the first UpWest store in the city.
Lebor and Manasia of TerraCRG arrange $4.25 million sale of 5,625 s/f development site
January 17, 2023
Brooklyn, NY TerraCRG has closed on the $4.25 million sale of 608 Ocean Ave., a shovel-ready residential development site in Prospect Park South.
Edelkopf and Rosenfeld of Schuckman Realty facilitate sale of 911 Nostrand Ave.
January 17, 2023
Brooklyn, NY Schuckman Realty sold a multifamily walk-up building located at 911 Nostrand Ave. between Crown St. and Montgomery St. in Crown Heights.
The Arker Companies and Slate Property Group sign lease 27,676 s/f to ShopFair Supermarkets at Edgem...
January 17, 2023
Queens, NY According to The Arker Companies and Slate Property Group, ShopFair Supermarkets signed a 25-year, 27,676 s/f lease agreement at Edgemere Commons, a mixed-use development located in Edgemere.
National Resources purchases Rising Ground’s 28-acre campus for $52.6 million
January 17, 2023
Yonkers, NY OPEN Impact Real Estate LLC (OPEN) brokered the sale of Rising Ground’s 28-acre Leake & Watts campus to National Resources, a real estate development company, for $52.6 million.
Hannigan and O’Connell of Choyce Peterson negotiate 39,649 s/f lease
January 17, 2023
Purchase, NY Choyce Peterson, Inc. finalized lease negotiations on behalf of Triton International an intermodal container leasing corporation, for a 39,649 s/f office at 100 Manhattanville Rd.
Levine, Lipton, and Hindmarch of Invictus Property represented the buyer of 28 Herbert St.
January 17, 2023
Brooklyn, NY 28 Herbert St., a prime development site in Williamsburg, sold for $9.04 million. Andrew Levine, Josh Lipton and Jax Hindmarch of Invictus Property Advisors procured the buyer while Jacob Stavsky of Stav Equities represented the seller in this off-market transaction.
Panessa joins EW Howell Construction as controller
January 17, 2023
Plainview, NY Lori Panessa has joined EW Howell Construction Group as controller. She will oversee all aspects of the organization’s financial reporting, financial analysis, and financial stability.
Northmarq arranges $2.2 million
January 17, 2023
Manhattan, NY Robert Ranieri, senior vice president/managing director in Northmarq’s White Plains debt/equity office, arranged a $2.2 million line of credit for a previously combined condominium unit at 59 West 12th St., a full-service building in the Greenwich Village neighborhood.
Adidas renews 30,000 s/f retail lease for downtown flagship at 610 Broadway
January 17, 2023
Manhattan, NY JLL said that Adidas has signed a 10-year renewal for its downtown flagship store at 610 Broadway in one of the largest retail transactions to close in the Soho market in 2022. The multinational sportswear brand occupies a three-level, 30,639 s/f in the building
Ariel Property Advisors arranges sale of Bronx affordable housing portfolio for $107.5 million
January 17, 2023
Bronx, NY An affordable housing portfolio consisting of four multifamily projects with 477 units and an approximately 525,000 s/f development site located in the Morrisania, High Bridge, and Belmont neighborhoods has traded for $107.5 million.
Rosewood Realty sells 4,125 s/f for $2.2 million
January 17, 2023
New York, NY Rosewood Realty Group sold a five-unit residential building in East Williamsburg for $2.2 million.
IPRG sells Tompkins Square portfolio for $29 million
January 17, 2023
Manhattan, NY Investment Property Realty Group (IPRG) negotiated the sale of Tompkins Sq. portfolio (five buildings) for $29 million.
MAG Partners closes transaction to develop mixed-income residential building
January 17, 2023
Manhattan, NY MAG Partners, the woman-owned development firm, closed on the leasehold acquisition for 335 Eighth Ave. with Penn South, an affordable housing cooperative located in Chelsea.
Meridian’s Schechtman, Pollack, Kassin and Lieberman sell 60 units for $18.7 million
January 17, 2023
Flushing, NY An entity tied to property manager Jordan Cooper LLC sold a 60-unit apartment building at 108-50 71st Ave. in Forest Hills for $18.7 million to a Rockville Centre-based LLC.
Cohen & Perfetto named to U.S. News Best Law Firms
January 17, 2023
New York, NY Cohen & Perfetto has been included in the 2023 edition of U.S. News Best Law Firms.