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Phillips of Largo Real Estate Advisors arranges two refinances - $66.2 million
October 11, 2022
Amherst, NY Jack Phillips, MBA, principal at Largo Real Estate Advisors, arranged refinancing for two Upstate properties. Phillips secured $23 million to refinance a pair of medical office buildings. The buildings are 100% occupied
Bonacio renovating Word of Life Inn & Family Lodge
October 11, 2022
Schroon Lake, NY Bonacio Construction is renovating the Word of Life Inn & Family Lodge in Schroon Lake. Spring City Development Group is working with the project owners, Sonny and Julie Bonacio, Andrea Crisafulli, and Alan Ayers,
TAYLOR awarded contract for Tesla facility
October 11, 2022
Henrietta, NY TAYLOR has been awarded the construction contract for the new Tesla service, education, and vehicle display center. TAYLOR is teaming with Rochester Motors NY LLC, a joint venture of Truett Realty Group (TRG) and JBL Development, for a conversion
Rhinebeck receives $6m grant for workforce housing community
October 11, 2022
Rhinebeck, NY The first workforce housing community being developed in the town has received a $6 million grant from Wells Manor Housing Development Fund Corp. Located in Dutchess County, about 100 miles north of New York City, The Hamlet at Rhinebeck, an 80-unit workforce
Scheer and Seelenfreund of Cleeman Realty Group arrange $3.2m off-market sale of South Plaza
October 11, 2022
Norwich, NY Cleeman Realty Group brokered the off-market sale of South Plaza. The 141,402 s/f shopping center was 56% occupied at the time of closing and features a lineup of national tenants including Tractor Supply Company, Dollar General, and Aaron’s. The
Gantry arranges $91.3 million of northeast commercial mortgage financing - for multifamily, self sto...
October 11, 2022
Buffalo, NY Gantry has arranged $91.3 million of commercial mortgage financing secured for multifamily, self storage, and office assets located in various Northeast submarkets and Texas. The loans include financing for a new construction project and several permanent,
Schuckman Realty brokers two sales for $11.671 million
October 11, 2022
Queens, NY Schuckman Realty brokered the sale of a single-tenant net leased Citibank located at 121-11 Liberty Ave., South Richmond Hill. The building which is located on the northeast corner of Liberty Ave. and 121st St. features
Lingua Franca signs 3,437 s/f lease at 307 West 36th St.
October 11, 2022
New York, NY GFP Real Estate, LLC signed Lingua Franca NYC Inc., to a short-term lease for 3,437 s/f on the fifth floor of 307 W. 36th St. in the city’s Garment District
118-unit Barbara Faron Residence being built in Far Rockaway
October 11, 2022
Queens, NY Federation of Organizations currently has a nine-story, 118-unit affordable housing development under construction in Far Rockaway. The property, which will be named the Barbara Faron Residence, is located at 20-50 Nameoke Ave. and is expected to be completed
Renshaw of B+E receives CREW Network award
October 11, 2022
New York, NY B+E CEO Camille Renshaw is the 2022 Entrepreneurial Spirit Impact Award recipient, as named by CREW New York, a segment of the premier business network dedicated to transforming the commercial real estate industry by advancing women globally.
Ariel Property Advisors arranges $12.1 million sale of 87,899 s/f multifamily portfolio at 818-862 B...
October 11, 2022
Bronx, NY Ariel Property Advisors has arranged the sale of a 10-building, 87,899 s/f multifamily portfolio at 818-862 Beck St. in the Longwood section of the borough. The Beck St. portfolio sold for $12.1 million, which translates to $144,047 per unit,
Cresa NY organizes second annual Building Better for Tunnel 2 Towers Foundation; raises $150,000
October 11, 2022
New York, NY More than 300 members of the commercial real estate and construction industries gathered at 48 Lounge in Midtown Manhattan for the second annual Building Better for the Tunnel 2 Towers Foundation event. Organized by Cresa managing principals James Pirot
Polsinelli of Compass sells 11,000 s/f retail condo at 380 Columbus Ave.
October 11, 2022
New York, NY Adelaide Polsinelli, vice chairman of Compass, has sold the 11,000 s/f, retail condo with 100 ft. of wraparound frontage, at 380 Columbus Ave., also known as 101 West 78th St., on the northwest corner of 78th
Penn Station, transit oriented development and the looming threat of eminent domain, part 2 - by Je...
October 11, 2022
Owners and business tenants are entitled to separate condemnation awards (see Rose v. State, 24 N.Y.2d 80 (1969)). Property owners are entitled to an award for the value of their real estate based upon a highest and best use analysis, while business tenants are entitled to a separate award for their
Yonkers IDA votes preliminary and final approvals for new developments
October 11, 2022
Yonkers, NY The Yonkers Industrial Development Agency (YIDA) voted preliminary and final approvals of financial incentives for new residential and commercial projects representing a total private investment of $182.2 million. The developments are projected to create more
Leasing under an industrial development agency transaction - by Louis Fiore
October 11, 2022
A commercial property owner has just closed an industrial development agency (IDA) transaction providing real estate, sales and use and mortgage recording tax exemptions through a lease/leaseback structure. There are a number of considerations to keep in mind when leasing space
Bestreich, Sproviero, S. Reynolds, T. Reynolds, and Davila of IPRG close on 10,970 s/f for $6.825 mi...
October 11, 2022
Brooklyn, NY Investment Property Realty Group (IPRG) has negotiated the closing of 1125, 1127, 1129, 1132, 1133 Greene Ave. for $6.825 million. These five adjacent multifamily buildings consist of 10 apartments and has 10,970 s/f.
GFP Real Estate closes on $47 million refinance for 230 Fifth Ave. from Chase
October 11, 2022
New York, NY GFP Real Estate, LLC has closed on a $47 million loan from Chase for the refinancing of 230 Fifth Ave., a 20-story, 465,000 s/f Beaux Arts-style office building located in the Flatiron District.
INCOCO partners with Tavros Holdings to acquire two investment properties for a total of $224.9 mill...
October 11, 2022
New York, NY INCOCO CAPITAL, LLC (INCOCO) has expanded its real estate investment platform in the United States with two market-leading investments. The company partnered with Tavros Holdings, LLC (Tavros) to acquire a development site located at 24-19 Jackson Ave. in the Court Sq.
BOMA New York names winners at 2022 pinnacle awards
October 11, 2022
New York, NY BOMA New York successfully awarded 18 winners from across 37 nominees in the commercial real estate industry at its annual Pinnacle Awards celebration at Pier Sixty on September 29th. The Pinnacle Awards, known as the premier awards ceremony for commercial real estate