Search
Story results for:
Midtown highrise blaze sounds alarm about lithium-ion batteries - by Evan Lipstein
November 22, 2022
A three-alarm fire erupted in a Midtown apartment building injuring 40 with some in serious and critical condition, according to the FDNY. The fire that began on the 20th floor was caused by a lithium-ion battery, according to commissioner Laura Kavanagh, “…the cause of the fire is a lithium-ion battery
Breaking Ground opens 90 Sands - 491 affordable/supportive units
November 22, 2022
Brooklyn, NY Breaking Ground celebrated the opening of 90 Sands, a former Jehovah’s Witnesses hotel converted into 491 affordable and supportive apartments in DUMBO. Breaking Ground launched 32 years ago, in 1990, focused on transforming old hotels in Manhattan into supportive housing,
DIGroup Architecture named architect-of-record for School Const. Authority’s 100,000 s/f PS X515
November 22, 2022
Bronx, NY DIGroup Architecture has been named the design architect by the New York City School Construction Authority (SCA) for PS X515, a new Pre-K through grade 5 school. It is the firm’s first ground-up public-school design assignment in New York City under the SCA’s Capacity Program
BRP Cos. and city of New Rochelle break ground on 477-unit 500 Main St.
November 22, 2022
New Rochelle, NY BRP Companies, the Urban Investment Group within Goldman Sachs Asset Management (Goldman Sachs), the city, Westchester County officials and additional project partners broke ground on 500 Main St., a 26-story, 477-unit, mixed-income residential complex. Financing for the project was
Scarangello of Thornton Tomasetti appointed to Manhattan College board of trustees
November 22, 2022
Manhattan, NY Thomas Scarangello, executive chairman of Thornton Tomasetti, has been selected as the newest member of the Manhattan College board of trustees. Scarangello, a ’79 graduate of Manhattan College, has more than 40 years of experience
Skanska awarded $167m contract for Williamsburg Bridge rehab project
November 22, 2022
Brooklyn, NY Skanska USA has been awarded a contract by the N.Y.C. Department of Transportation (NYCDOT) to carry out the $167 million rehabilitation of the Williamsburg Bridge, providing needed improvements and replacement of aging components across the structure.
EP Engineering participates in 30th annual Canstruction design competition
November 22, 2022
Manhattan, NY EP Engineering participated in the 30th annual Canstruction design competition at Brookfield Place. Canstruction is an international charity competition where architects, engineers, contractors, and students compete to design and build structures made entirely
Best of Building Skills NY event honors partners and raises $100,000
November 22, 2022
Manhattan, NY Building Skills NY (BSNY), a nonprofit construction workforce development organization connecting underemployed and unemployed New Yorkers to construction training and job opportunities throughout New York City, honored key partners and participants along with raising $100,000 at their first Best
BRC and Camber Property Group break ground on $97 million Beach Channel Dr. apartments
November 22, 2022
Queens, NY Borough president Donovan Richards, state assembly member Khaleel Anderson, agencies, community leaders and other dignitaries joined BRC and Camber Property Group at a groundbreaking ceremony for Beach Channel Dr., a 100% affordable housing development in Far Rockaway.
Adaptive reuse for affordable housing in our current market - by William Gati
November 22, 2022
The real estate industry throughout the country faces difficulty in many areas: higher mortgage rates, high inflation, and down trending stock market. The economy seems to be getting worse for professionals in our industry. With mortgage rates hitting 7% this week, we all have to earn and spend more to make developments
Retail rebounds in SoHo and Nolita - by Joseph Aquino
November 22, 2022
If you walk through SoHo and Nolita these days, and observe the foot-traffic and the storefronts, you might ask, “What COVID?” The daily traffic has doubled compared to pre-COVID-19 levels and a whole new lineup of tenants has arrived in the past year. This reinforces my long-held theory, “If the property
Excess Business Loss limitation – Effective for 2021- By Sandy Klein
November 22, 2022
We have always heard that in life the only two things for certain are death and taxes. This may be true but the more accurate point regarding taxes is that there is constant change. In this article we will focus on a change impacting many and is now effective. The change involves the Excess Business Loss (EBL) limitation.
Discussing renovations of condo units – understand the basics beforehand - by C. Jaye Berger
November 22, 2022
Many of the new residential buildings which have been constructed in recent years are condominiums. Given that fact, it is increasingly important for anyone thinking of buying a condominium unit and for anyone already living in a condominium to understand the unique aspects of the make up of a condominium association before embarking
Landlords that foresee how emerging metaverse technology will change the demand for CRE should outpe...
November 22, 2022
The Metaverse is defined as “a virtual reality space in which users can interact with an environment generated by computer and with other users” by the Oxford Advanced Learner’s Dictionary. Most of us in the commercial real estate business have been operating in the metaverse for decades without even realizing it.
Deferring capital gains from the sale of appreciated investment properties - by Michael Packman
November 22, 2022
When investing in real estate, the key is to buy a property well and then sell it for a profit at some point in the future. Many investors know they may be able to utilize Internal Revenue Code Section 1031 and exchange their property for a replacement property and defer their capital gains. This has been one of the
Rudin secures two lease commitments at 41 Madison
November 22, 2022
Manhattan, NY Rudin has completed two leases, totaling 18,650 s/f, at 41 Madison Ave., its recently repositioned office tower located in the Midtown South’s Flatiron District. Online home building platform, Welcome Homes, is more than doubling its
Newmark Retail signs two new tenants making 14 Wall St. 100% leased; No 1 Caviar and Bio Vita
November 22, 2022
Manhattan, NY Newmark Retail has secured two new leases at 14 Wall St. The firm represented ownership to secure leases with No 1 Caviar for 1,400 s/f and Bio Vita for 1,900 s/f. Adding these two new tenants brings the asset’s retail space to fully leased. Newmark senior
Vogel of GFP Real Estate leases 12,875 s/f at 100 Crosby to Billie
November 22, 2022
Manhattan, NY GFP Real Estate, LLC said that Billie Inc. signed a one-year renewal lease for 12,875 s/f on the 4th floor at 100 Crosby St. in SoHo.Donna Vogel, senior managing director of GFP Real Estate, represented the landlord, GFP Real Estate, and the tenant, Billie Inc.,
JLL leases 20,874 s/f to Altana at 25 Kent
November 22, 2022
Brooklyn, NY Rubenstein Partners’ 25 Kent, the borough’s newest mixed-use office and light manufacturing building, signed a 20,874 s/f, 10-year lease with Altana, a startup pioneering a shared source of truth on the global supply chain, at 25 Kent Ave. in Williamsburg. Relocating
Schertz of Schuckman Realty sells 215 West 109th St. for $7 million
November 22, 2022
Manhattan, NY Schuckman Realty brokered the sale of a multi-family building at 215 West 109th St., in the Manhattan Valley neighborhood. The building, which is located at the corner of Broadway and Amsterdam Ave. sold for $7 million.