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Simone Development renews 22,700 s/f of leases at Hutchinson Metro Center
November 22, 2022
Bronx, NY According to Simone Development Companies, Shein Orthopaedics and law firm Peña & Kahn have both signed expansion and renewal leases at the firm’s Tower One at the Hutchinson Metro Center at 1250 Waters Place. Ownership was represented by Josh Gopan, Simone’s vice
Question of the Month: What did we in the senior living sector learn from the pandemic? - by Gregory...
November 22, 2022
COVID-19 has had a major impact on reshaping the entire senior living industry with many changes likely to remain for the long term. The pandemic underscored the limitations of the current system, and provided many like us with the opportunity to reevaluate plans for the future and identify best practices
Mallon and Thrappe of Verada Retail leases 2,500 s/f to JAG-ONE
November 22, 2022
Brooklyn, NY Verada Retail executed a new lease for 2,500 s/f at 409 Eastern Pkwy. in Crown Heights to JAG-ONE. The tenant is now located on the ground floor of a 400-unit mixed-use apartment building owned by FBE Limited. Nathaniel Mallon and Brendan Thrappe, managing partners at
Bestreich, Sproviero, Lobel, and Waring of Investment Property Realty Group close 22-units for $9.6 ...
November 22, 2022
Brooklyn, NY Investment Property Realty Group (IPRG) negotiated the closing of 1627, 1629, 1631 Pacific St. for $9.6 million. 1627 Pacific St. is built 21 ft. x 60 ft., 1629 Pacific St. is built 25 ft. x 60 ft., and 1631 Pacific St. is built 21 ft. x 60 ft.
Fisher Bros. leases 11,439 s/f at 299 Park Ave.
November 22, 2022
Manhattan, NY According to Fisher Brothers, Freeman Spogli & Co. has signed a 10-year lease renewal at 299 Park Ave. in Midtown. Freeman Spogli & Co., a private equity firm and current tenant of 299, will expand its current lease to occupy 11,439 s/f on the 20th floor starting
Cosentino of TerraCRG sells 5,000 s/f multifamily - $1.28 million
November 22, 2022
Brooklyn, NY TerraCRG has closed on the $1.28 million sale of a 5,000 s/f multifamily property at 232 Stanhope St. in Bushwick.TerraCRG partner Matt Cosentino exclusively represented the seller on this deal.
Horvath & Tremblay sells 154,991 s/f Webster Plaza for $18.593 million
November 22, 2022
Webster, NY Jeremy Black, Bob Horvath, and Todd Tremblay of Horvath & Tremblay have completed the sale of Webster Plaza. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $18,593,750.
DePasquale of Katz & Assocs. brokers two leases
November 22, 2022
Queens, NY Katz & Associates’ Daniel DePasquale represented landlords in two leases: • 42-19 Bell Blvd in Bayside. On behalf of the landlord Paulipark Associates, LLC leased 6,000 s/f to Teso Life. This is the Japanese
RIPCO and Compass broker Topdrawer lease for 1,097 s/f at 155 Spring St.
November 22, 2022
Manhattan, NY Topdrawer, a Japanese/American company inked a deal for a 1,097 s/f store at KPG’s 155 Spring St. RIPCO Real Estate’s Richard Skulnik represented KPG in the deal. Compass’s Rebecca Olshan represented the tenant.
Guarino and Flaccomio of ERG Commercial arrange $2.1 million refinancing
November 22, 2022
Central Islip, NY ERG Commercial Real Estate, through an affiliate, arranged the funding of a $2.1 million refinance loan secured by two commercial strip shopping centers on Long Island. The single-story buildings at 861 & 889 Lowell Ave.
Commercial leasehold condominium basics - part 2 - by Thomas Kearns
November 22, 2022
A 2018 column of mine for this publication outlined the basics of commercial leasehold condominiums but that article was limited to the use of an entire building by a not-for-profit (NFP) which leasehold interest was then submitted by the NFP to a condominium regime. This month I describe a more complex structure – how to get the benefits
Ariel Property Advisors arranges sale of four Brooklyn properties for $16.18 million
November 22, 2022
Brooklyn, NY Ariel Property Advisors has arranged the sale of properties in Bay Ridge, Park Slope, Brooklyn Heights and Crown Heights totaling $16.18 million. • Bay Ridge. A 27,548 s/f, fully-stabilized 35-unit multifamily building at 571 Ovington Ave. sold for $5.7 million, which
Standard Communities launches three new business lines
November 22, 2022
Washington, D.C. Standard Communities has established three new, diversified business lines to build on its success of providing sustainable housing. The three dedicated business lines—acquisition/redevelopment, new construction and essential housing—will leverage and align the strengths
Greystone provides $39 million in Freddie Mac financing for 10-property multifamily portfolio in New...
November 8, 2022
Newark, NJ Greystone, a leading national commercial real estate finance company, has provided $39.173 million in Freddie Mac Optigo Small Balance Loans (SBL) to refinance a portfolio of 10 multifamily properties consisting
REZI secures $100 million from Stratos to expand nationwide
November 8, 2022
New York, NY REZI, a real estate technology company offering "Occupancy-as-a-Service" for rental property owners, has secured $100 million in debt financing from Stratos Credit, according to Sean Mitchell, CEO & co-founder
CBRE originates $12.3 million Freddie Mac financing for River View Towers
November 22, 2022
Manhattan, NY CBRE originated a $12.3 million loan to refinance existing debt and facilitate major capital improvements for River View Towers, a 385-unit, 24-story, Mitchell-Lama cooperative built in 1964 located in the Hamilton Heights neighborhood of the city’s upper west side.
Tishman Speyer and Project Destined launch first Global Partnership
November 8, 2022
New York, NY Tishman Speyer has announced an agreement to serve as the first-ever Global Partner with Project Destined, a social impact platform that provides students in underserved communities with training in financial
Three magical words - by Rod Santomassimo
November 22, 2022
Earlier last month I was getting ready for the biggest professional event of my 40+ year career. I had been working every day, for the prior six months on developing a dream CRE brokerage event, we called “MassimoCon”. My goal was to make it the greatest conference in the brokerage industry
Gil and Kaufman of C&W secure $142.9 million construction financing
November 22, 2022
Brooklyn, NY Cushman & Wakefield served as the exclusive advisor to Senlac Ridge Partners and The William Macklowe Company in the procurement of $142.9 million in construction financing for a mixed-use development project located at 120 Fifth Ave. in Park Slope.
Raise Commercial and Newmark lease 12,159 s/f
November 22, 2022
Manhattan, NY Raise Commercial Real Estate has signed a five-year, 12,159 s/f lease with Leap at 99 Hudson St. in Tribeca. Leap’s new space will serve as the company’s New York City headquarters.