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Slate Property and PCCP acquire 123 East 54th St. for $37.7 million
December 13, 2022
Manhattan, NY Slate Property Group and PCCP, LLC acquired 123 East 54th St., a mixed-use property located in Midtown East between Park and Lexington Aves., for $37.7 million.
Mallon of Verada leases 41,000 s/f to Brooklyn Brewery at 1 Wythe Ave.
December 13, 2022
Brooklyn, NY Nathaniel Mallon, managing partner of Verada, represented Brooklyn Brewery in the lease of 41,000 s/f at 1 Wythe Ave. The space is zoned for light manufacturing use across the lower level, first & fourth floors of the three-sided building’s total 82,000 s/f. The new location is four blocks from the company’s current location on North 11th St.
Ferrara and Leonhardt of Brax Realty sell $10.37m dev. site
December 13, 2022
Long Island City, NY Michael Ferrara, managing principal of Brax Realty and Cole Kinney Leonhardt, investment sales associate of Brax Realty negotiated the closing of 23-17 41st Ave. for $10.37 million.
Elmo Realty celebrates 30-year anniversary
December 13, 2022
Bronx, NY According to Moujan Vahdat, CEO of Elmo Realty Co., one of the largest landowners in the state, the company is celebrating their 30-year anniversary of their corporate mandate for alleviating the homeless crisis in the city.
A&E Real Estate buys 1,212 unit portfolio from LeFrak for $248.7m
December 13, 2022
Brooklyn, NY A&E Real Estate today has finalized the acquisition of 14 multifamily buildings in the city’s Gravesend and Sheepshead Bay neighborhoods. A&E acquired the portfolio, which encompasses 1,212 apartments, 306 parking spaces and five commercial units, from The LeFrak Organization for $248.7 million.
Marketing trends in a period of uncertainty - by Kimberly Zar
December 13, 2022
America is holding on tight for a year of unpredictable change. Market uncertainty, global events and political shifts could influence the commercial real estate industry dramatically. During this time, it’s important to maintain a marketing strategy that helps your business not only stay afloat but also thrive in 2023.
Pourciau of KWNYC leases 16,000 s/f
December 13, 2022
New York, NY Bennett Pourciau of Keller Williams New York City (KWNYC) closed an off-market lease for the immersive entertainment musical production of The Great Gatsby.
Mavashev of Alpha Realty brokers $24m sale of 82-unit multifamily
December 13, 2022
Brooklyn, NY Alpha Realty negotiated the sale of 792 Sterling Place in the Crown Heights section of the city which traded at $24 million in an off-market transaction.
EW Howell Const. completes 68,000 s/f St. Johnland facility
December 13, 2022
Kings Park, NY EW Howell Construction Group has completed the new St. Johnland Assisted Living at 393 Sunken Meadow Rd. The two-story, 68,000 s/f facility on Long Island’s North Shore offers 80 residential units and 100 beds.
Naftali Group and Access Industries close on $385m const. loan for 470 Kent Ave.
December 13, 2022
Brooklyn, NY Naftali Group is partnering with Access Industries for the transformation of the Williamsburg waterfront development at 470 Kent Ave.
NYC DOB deputy commissioner keynotes 2022 BOMA NY leadership breakfast
December 13, 2022
New York, NY BOMA New York’s 2022 Annual Leadership Breakfast was held at Club 101 on Park Ave. with over one hundred commercial real estate professionals.
ESG is a process, not a product - by Nicholas Stolatis
December 13, 2022
ESG is certainly making an impression on so many of us these days. It’s gotten so common that most times there is no explanation offered that the initials stand for environmental, social and governance. It’s assumed you know what ESG means.
Professional Women in Construction holds an ‘emerging trends’ panel
December 13, 2022
New York, NY On November 9th, Professional Women in Construction (PWC) held a panel event at Manhattan Manor. Deirdre McGrath led an engaging conversation on emerging construction trends with data provided by Dodge Construction.
TIG, PGIM, and Meadow complete 34,000 s/f addition at 295th Fifth Ave.
December 13, 2022
New York, NY Tribeca Investment Group (TIG), PGIM Real Estate and Meadow Partners, has completed a two-story, 34,000 s/f penthouse addition at 295 Fifth Ave.
AtmosAir Solutions and A&D Entrances announce installation of the first ‘Elev-Air’
December 13, 2022
New York, NY AtmosAir Solutions, a leading indoor air purification company and A & D Entrances, an elevator cab and entrance manufacturer servicing the New York Tri-State area, has completed the first installation of its Elev-Air elevator air purification product in the Flatiron Building.
Marx Realty celebrates opening of 40,000 s/f SUNY WCC location
December 13, 2022
Yonkers, NY SUNY Westchester Community College (SUNY WCC), in a continuation of its commitment to deploying innovative ways to extend access to higher learning, launched a new location expanding pathways to high-demand jobs and workforce development for the college population.
Project team holds topping off for Hanson Place Community Plaza
December 13, 2022
Brooklyn, NY Hanson Place Seventh-Day Adventist Church, MDG Design + Construction, NYC HPD, NYC HDC, Citi Community Capital, The Richman Group, and other partners are celebrating the “topping off” of Hanson Place Community Plaza, a 104-unit affordable housing development under construction in Fort Greene, Brooklyn.
Seller financing can help bridge the current gap between buyers and sellers in the CRE market - by ...
December 13, 2022
Significant changes in the economic and interest rate environments in the United States have foiled countless commercial real estate transactions across the country in 2022.
Gotham Organization and RiseBoro celebrate opening of Gotham Point
December 13, 2022
Queens, NY The Gotham Organization, together with RiseBoro Community Partnership, has completed Gotham Point, the newest residential development in the Hunter’s Point South waterfront neighborhood.