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Rose Assocs. and BedRock R.E. receive approval for 15.45 acre site
November 8, 2022
Port Chester, NY Rose Associates and BedRock Real Estate Partners received final site plan approval from the village to develop a 15.45-acre site that has been unused for almost 20 years. The property at 406 Boston Post Rd., once home to United Hospital, will be completely redeveloped into a mixed-use community
Clinton Management inks 6,200 s/f lease with Laundrybee at Douglaston’s 3254 White Plains Rd.
November 8, 2022
New York, NY Clinton Management, the property management affiliate of Douglaston Development, has arranged a 15-year, 6,200 s/f lease, inclusive of a 20-car parking lot with MWBE laundromat provider, Laundrybee at 3254 White Plains Rd. in the Williamsbridge section of the Bronx.
L&L Holding Company celebrates completion of 688,000 s/f 425 Park Ave. office tower - designed by Pr...
November 8, 2022
New York, NY L&L Holding Company, with Pritzker Prize-winning architect Lord Norman Foster and its project partners, gathered to celebrate the grand opening of 425 Park Ave. in Manhattan’s Plaza District. Developed by L&L Holding along with its co-equity partner and co-developer Tokyu Land Corp. and co-managing partner Bentall -GreenOak, 425 Park is one of the first full-block office developments to be completed on Park Ave. in half a century.
Hempstead IDA gives preliminary OK to benefits to assist Natural Foods to consolidate operations int...
November 8, 2022
Freeport, 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 benefits that will allow a Forest Hills, Queens-based wholesale dairy distributor with facilities in Inwood purchase a warehouse in town where it intends to consolidate operations
Kuppersmith and Sullivan of C&W arrange 2,754 s/f long-term lease for Steinway & Sons
November 8, 2022
Manhasset, NY Cushman & Wakefield arranged a long-term, 2,754 s/f lease for Steinway & Sons, maker of some of the world’s finest pianos, at 1488 Northern Blvd.
American Investment Properties sells 10,000 s/f mixed-use for $1.75 million
November 8, 2022
East Northport, NY American Investment Properties (AIP) was exclusively retained to sell 2 Larkfield Rd. The mixed-use building totals almost 10,000 s/f and is located next to the Northport train station. There were 60% of tenants with leases expiring within a year’s time.
Breslin Realty brokers three retail leases totaling 50,500 s/f
November 8, 2022
Bohemia, NY Breslin Realty negotiated three long-term retail leases. Christmas Tree Shops will be occupying 38,000 s/f in the Sayville Plaza, at5181 Sunrise Hwy.
Commercial classroom: Commercial brokerage opportunities - by Edward Smith, Jr.
November 8, 2022
This column is offered to help educate agents new to commercial and investment brokerage and serve as a review of basics for existing practitioners. This month marks my 240th monthly article for the New York Real Estate Journal. It seems appropriate to reprint the first article I wrote for them twenty years ago. Some things about commercial real estate never seem to change.
Liability and insurance considerations for an owner of vacant land - by John Comiskey
November 8, 2022
Throughout New York, there is an abundance of vacant land owned by individuals and/or corporate entities. Depending upon the precise location within New York, a substantial amount of vacant land is utilized by the public for recreational activities such as hunting, fishing, hiking, bicycle riding, cross-country skiing, sledding, horseback riding, snowmobile operation, operation of all-terrain vehicles, and other activities.
Gurwin hosts grand opening for Fountaingate Gardens
November 8, 2022
Commack, NY Gurwin Healthcare System held a celebration to commemorate the newly completed Fountaingate Gardens Independent Living complex. The $115 million,129-luxury apartment Life Plan Community is one of the newest such communities on Long Island, and the final piece in Gurwin’s full continuum of care for seniors.
Blodgett of Tredway honored with 2022 GameChanger award
October 25, 2022
According to Tredway, a triple-bottom line real estate development firm that invests in, acquires, and preserves affordable, workforce, and mixed-income housing, its founder and CEO, Will Blodgett, was named GameChanger of
The Commercial Industrial Brokers Society of Long Island panel examines “Future of the Office Wor...
November 8, 2022
Melville, NY The Commercial Industrial Brokers Society of Long Island (CIBS), one of the region’s largest real estate advocacy organizations, hosted a panel discussion last week that examined the “Future of the Office Workplace.”
Epstein of RC Commercial Ptrs. sells 5018 Express Dr. for $1.6 million
November 8, 2022
Ronkonkoma, NY RC Commercial Partners, the commercial division of Realty Connect USA, brokered the sale of an office property at 5018 Express Dr. South. The transaction amount was $1.6 million. The Ronkonkoma Business Center is a 100% leased 13,000 s/f office property
Hunt Corp. Commercial Real Estate Q&A: Contingencies in a contract of sale - by David Hunt
November 8, 2022
Q: We are negotiating the sale of our industrial building, and the buyer is insisting on a long list of contingencies in the contract. What is normal? A: There is no “normal” set of contingencies to a contract of sale, in the same way there is no “normal” real estate deal.
Eastman Cooke finishes first phase of restoration project for ACDS
November 8, 2022
Plainview, NY Eastman Cooke & Associates has completed the first phase of a restoration project at the main campus of ACDS (formerly known as the Association of Children with Down Syndrome) at 4 Fern Place.
199 new homes for seniors & families at ‘WSFSSH at West 108’
October 25, 2022
Manhattan, NY West Side Federation for Senior and Supportive Housing (WSFSSH) joined with Mayor Eric Adams, Senate Majority Leader Chuck Schumer, Manhattan Borough President Mark Levine and others to celebrate 199 new homes
Suffolk IDA preliminarily approves project for Sunrise of Northpoint
November 8, 2022
East Northport, NY The Suffolk County Industrial Development Agency (IDA) has preliminarily approved a transaction to assist Sunrise of Northport LLC for the construction of a 77,500 s/f assisted living and memory care facility, with 90 units at 1381-1387 Pulaski Rd. The more than $54.6 million project will transform the 6.1 acres of vacant land into a two-story assisted living facility that features specialized Alzheimer and memory care units.
Cushman & Wakefield arranges $27.2 million acquisition financing - loan provided by Greystone
November 8, 2022
Lynbrook, NY Cushman & Wakefield served as the exclusive advisor to The Birch Group in the procurement of $27.215 million in acquisition financing for Cornerstone Yorkshire, a newly-built multifamily property located at 5 Freer St. The loan was provided by Greystone.
Covello forms independent advisory company
November 8, 2022
NEW YORK, ny CEO Jamie Covello LLC, an independent woman-owned real estate advisor launched as a provider of worldwide real estate solutions to help clients achieve more while spending less.
CSM Sport and Entertainment signs 11,940 s/f at 80 Eighth Ave.
October 25, 2022
Manhattan, NY According to GFP Real Estate, CSM Sport and Entertainment, a global integrated marketing and brand experience agency working in the sports and entertainment, has signed a three-year lease for 11,940 s/f