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Cronheim secures $49 million permanent financing for apartments in Hillsborough, NJ
November 8, 2022
Hillsborough, NJ David Turley and Janet Proscia of Cronheim Mortgage have secured a $49 million permanent take-out financing for Hillsborough Village Center. Cronheim secured a commitment from a New Jersey bank for a 7-year term
NYC CRE leaders help launch AHA's 2023 Heart of New York City campaign
November 8, 2022
Manhattan, NY Bruce Mosler, Global Brokerage chairman of Cushman & Wakefield and Joseph Simone (center), president and CEO of Simone Development Companies, one of the region’s leading healthcare and commercial real estate
Standard Communities hires Qumseya as chief development officer
November 8, 2022
Washington, D.C. Standard Communities, a leading national multifamily affordable housing investor and developer, has named Feras Qumseya as chief development officer. This is a new position created to lead the New Construction division, a national platform, focused on leveraging
BentallGreenOak to debut cultural program at 685 Third Ave.
October 25, 2022
Manhattan, NY BentallGreenOak’s (BGO) redesigned lobby at 685 Third Ave. will feature a new cultural program for the benefit of the tenants, neighbors, and guests of the building in early 2023. This program will debut with
Alsabbagh joins Savills Cross Border Tenant Advisory group
October 25, 2022
Manhattan, NY According to Savills, Soufian Alsabbagh has joined the firm’s North American Cross Border Tenant Advisory group as a director. Alsabbagh previously served as vice president at JLL, where he
MWBE Unite, Inc. name Ahmed and Ackerman to the board of directors
October 25, 2022
MWBE Unite, Inc. has appointmented Asmau Ahmed and Lisa Ackerman to the Board of Directors, effective immediately. MWBE Unite, a platform supplier incubated by JRT Realty, works to bridge diverse suppliers and client needs to create accessible opportunities
National Equity Fund provides $27 million loan to refinance affordable housing community
October 25, 2022
Staten Island, NY National Equity Fund (NEF), a leading national nonprofit affordable housing finance company, has provided a $27.457 million loan to refinance a 115-unit multifamily property. The financing comes
Hudson Valley Property Group closes $292 million for affordable housing preservation fund
October 25, 2022
Manhattan, NY Hudson Valley Property Group (HVPG), a leading, national affordable housing preservation company, has completed the final close for its second real estate private equity fund. HVPG raised $292.42 million in capital commitments
Darktrace signs lease at One Manhattan West
October 25, 2022
Manhattan, NY According to Brookfield Properties, Darktrace, a global leader in cyber security AI, will open a new office at One Manhattan West, a 67-story, 2.1 million s/f office skyscraper. This will be the
Madison Estates SIR merges with Weichert Realtors The Franzese Group
October 25, 2022
Brooklyn, NY According to Madison Estates Sotheby's International Realty, they will merger with Weichert Realtors The Franzese Group, a real estate company with more than two decades of service
Falcon Group promote Eberhardt to lead new office in King of Prussia, PA
October 25, 2022
King of Prussia, PA The Falcon Group announced the opening of their 12th office in King of Prussia at 1150 First Ave. Falcon has also promoted Kendall Eberhardt, P.E., to executive vice president of the Pennsylvania
STAGES Group and Urbahn Architects, elected officials break ground for the $25 million Four Points b...
October 25, 2022
Piarco, Trinidad and Tobago Developers and designers STAGES Group and Urbahn Architects, who are the founders of Prestige Hotels Limited, investor SEAF Caribbean SME Growth Fund, Airports Authority of Trinidad and
PRCP and Aareal Bank form JV with SL Green & The Cappelli Org.
October 25, 2022
White Plains, NY Pacific Retail Capital Partners (PRCP) and Aareal Bank, owner of The Galleria at White Plains, have formed a new joint venture partnership with SL Green Realty Corp. and the Cappelli Organization
SMPS-NY announces AccessAEC Development Honorarium with Columbia University
October 25, 2022
The Society for Marketing Professional Services New York Chapter (SMPS-NY), an organization for marketing professionals in the architecture, engineering, and construction (AEC) industry, announced a partnership with Columbia
November 2022 message from the president of NYSCAR - by Dana Crocker
November 8, 2022
I am pleased to thank Mary Peyton and Russell Gullo, CCIM for teaching recently. Mary taught the topics of implicit bias and cultural competency on Monday, September 19, 2022 with the course: Is a Rhombus a Square? Envisioning Bias and Culture in Real Estate. Students earned four hours of continuing education credit and met the new course requirement for license renewal.
Orange County Ptrsp. approves Poly Craft project
November 8, 2022
Middletown, NY Poly Craft Industries, an advanced manufacturer, and printer of laminated and non-laminated plastic products has received final approval from the city’s planning board.
Cap rates or quack rates? - by John Rynne
November 8, 2022
If it looks like a duck and quacks like a duck, it might be a duck; quack, quack!!! As interest rates have escalated in all sectors over the past three quarters so have overall capitalization rates. The 10-year treasuries have escalated 146% from 1.63% to 4.01%.
JLL Capital Markets secures $8.984m in financing for industrial warehouse
November 8, 2022
Albany, NY JLLCapital Markets has arranged $8.984 million in acquisition financing for 136 Fuller Rd., a 266,412 s/f industrial warehouse. JLL worked on behalf of the borrower, Vermont-based Redstone, in securing the 10-year, fixed-rate loan through Capital Bank.
2022 Hudson Valley apartment market - Brian Heine
November 8, 2022
REIT AvalonBay Communities sold the 110-unit Class A Avalon Bronxville, in Westchester County, for $89 million or $809,000 per unit in 2021. A suburban garden apartment complex built in 1998, rents are $3,568-$8,834 per month for the one to three-bedroom apartments; a 2-bedroom 2-bath is advertised for $4.70 per s/f per month.
AmTrust RE signs nine leases totalling 80,000 s/f at 100-120 Madison St.
November 8, 2022
Syracuse, NY AmTrust RE completed nine lease transactions, comprising more than 80,000 s/f at 100-120 Madison St., a two-building, 635,000 s/f office property.