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Celifarco closes sale of 409 E 50th St. to Republic of Palau for $3.73 million
October 25, 2022
New York, NY Independent advisor Anthony Celifarco closed the sale of 409 E 50th St., a mixed-use building in Midtown East. The property will be converted into the new embassy for the Republic of Palau. Celifarco represented and worked with the seller, the president of Palau, and his team of ambassadors and attorneys.
Colliers completes sales of two multifamily props.
October 25, 2022
Queens, NY Colliers arranged the sale of two multifamily buildings for $9.79 million combined in Rockaway Park. A Colliers team led by Jacklene Chesler, Patrick Norris and Darren Leiderman facilitated the transactions.
Summit RE Partners brings Claude Monet to 30 Wall St.
October 25, 2022
New York, NY Daniel Hassett of Summit RE Partners, LLC has arranged a limited-time lease for Monet’s Garden: The Immersive Experience at the Seamen’s Bank Building at 30 Wall St., opening November 1. Located in a 16,149 s/f, grade-level space, the exhibition celebrates the life and art of Claude Monet (1840-1926), the prolific founder of the Impressionist style of painting, considered a precursor to Modernism.
Johnston named CEO Americas for Lendlease effective Nov. 1
October 25, 2022
New York, NY Lendlease global chief executive officer Tony Lombardo said that global chief operating officer and CEO Americas Denis Hickey has decided to leave the organization after 10 years. Claire Johnston, currently Lendlease’s managing director, Google Development Ventures, will assume the position of CEO Americas effective November 1.
Bestreich, Sproviero, Lobel, Warning and Efkes of Investment Property Realty Group sell 40 Garden Pl...
October 25, 2022
Brooklyn, NY Investment Property Realty Group (IPRG) negotiated the closing of 40 Garden Pl. in Brooklyn Heights for $4.2 million. The property is located between State St. and Joralemon St. The lot is 19.17 ft x 95 ft and the building is built 19.17 ft x 62 ft.
Bond Vet signs lease at TFC’s 2 Gold St.
October 25, 2022
New York, NY TF Cornerstone (TFC), signed Bond Vet, a female-led, veterinarian-founded company offering primary care and urgent care services for animals. Located on the ground floor of its residential development, 2 Gold St., in Manhattan’s Financial District, Bond Vet signed a 10-year lease for 3,700 s/f.
Walker and Donohue of CBRE broker five leases at 424 Madison Ave. totaling over 17,000 s/f
October 25, 2022
New York, NY CBRE has completed five new office leases at 424 Madison Ave. totaling 17,687 s/f with a diverse group of users coming to the boutique office property located steps from Rockefeller Center and St. Patrick’s Cathedral.
The InHouse Group completes sales at two boutique condo developments
October 25, 2022
Brooklyn, NY The InHouse Group has concluded sales at two boutique condominiums; 66 Steuben St. in Clinton Hill and 394 Kosciuszko St. in Bed-Stuy are now 100% sold.
Keeping regulated units vacant - by Aaron Weber
October 25, 2022
With over two million renters, NYC has the most stringent housing regulations in the country. The Housing Stability and Tenant Protection Act (HSTPA) of 2019 added more red tape for property owners when it dramatically reduced an owner’s ability to increase rent based on an Individual
Squires, Neustadter and Weiner of C&W broker $5.5 million sale
October 25, 2022
New York, NY Cushman & Wakefield arranged the sale of an 11,104 s/f motel located at 1440 East 222nd St. in the Bronx. The final sale price was $5.5 million.
CBRE and Compass represent Five Iron Golf in 30,000 s/f lease at 101 Park Ave., Kalikow Building
October 25, 2022
New York, NY Five Iron Golf has signed a long-term lease at 101 Park Ave., the Kalikow Building located at the corner of 40-th St. and Park Ave., steps away from Grand Central Station. The 30,000 s/f space is located on the third ?oor and will feature a dedicated entrance on 41st St. with a private elevator.
Building Trades leader offers roadmap for job creation and construction reform
October 25, 2022
New York, NY New York City has an opportunity to rebuild the physical infrastructure of the region, said Louis Coletti, president and CEO of the Building Trades Employers Association (BTEA). Coletti, who serves on mayor Eric Adams’ Capital Process Reform Task Force, offered a roadmap for the city to take advantage of this opportunity while offering a pathway to financial security for thousands of workers and residents.
Arch Companies takes over portfolio of three Bushwick apartment development sites
October 25, 2022
New York, NY Arch Companies has closed a portfolio of three luxury apartment development projects in the Bushwick, Brooklyn market. The portfolio totals 61 units and is located at 435 Central Ave., 1010 Bushwick Ave. and 1351 Dekalb Ave. The restructuring with the existing ownership group lead by Denis Saklakov is a positive step towards restarting construction on the previously stalled properties.
The New Normal - by C. Jaye Berger
October 25, 2022
The world seems to be getting back on track after a fashion. The most that anyone can say is we are entering a “new normal.”
Rosewood Realty Group closes sale of 14,000 s/f for $6.8 million
October 25, 2022
New York, NY Rosewood Realty Group delivered the sale of a five-story, mixed use-apartment building in Borough Park with four apartments and one retail space for $6.8 million.
Ferrara and Stenson of Brax Realty sell 126-units for $6.7 million
October 25, 2022
New York, NY Michael Ferrara and Alan Stenson of Brax Realty brokered the $6.7 million sale of a 126-unit SRO building in the Upper West Side. The property, 342 West 71st St., is a 7-story elevator building with 34,312 s/f and 52 ft. of frontage on 71st St.
Regal Ventures acquires 15,893 s/f retail condo at 897 Eighth Ave. - $35.25 million
October 25, 2022
New York, NY Regal Ventures has acquired a 37,165 s/f, grocery-anchored retail and parking condo at 897 Eighth Ave. in the Hell’s Kitchen neighborhood on Manhattan’s West Side. The property’s retail component is 15,893 s/f in size, while the parking portion measures 21,272 s/f.
Ariel Property Advisors sell 142,500 s/f development site for $40.65 million in the rezoned Gowanus ...
October 25, 2022
Brooklyn, NY Ariel Property Advisors has arranged the sale of a development site with a 142,500 s/f zoning floor area at 450 Union St. in the rezoned Gowanus neighborhood. The property traded for $40.65 million or $285 per s/f, a record for a site in Gowanus with a Mandatory Inclusionary Housing requirement. The site is occupied by Pig Beach and The Green Building.
Zar Property NY completes multiple long-term leases at 42-44 Greene St.
October 11, 2022
New York, NY Zar Property NY has signed multiple long-term leases at 42-44 Greene St., a 5-story mixed use building between Broome St. and Grand St. Celebrity apparel brand “Mother” Denim has signed a long-term
Perlman of Largo Capital places $1.8 million refinancing
October 25, 2022
Webster, NY Ned Perlman of Largo Capital arranged $1.8 million to refinance a medical office building.