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Valente and Saleski of Sutton handle $3.6 million hotel sale
January 5, 2021
Rochester, NY Sutton Real Estate Co. completed the following: • The Rochester Downtown Holiday Inn, located at 70 State St., was sold for $3.6 million. The subject is a seven story, 250,712 s/f full service hotel with 217 rooms
Stan Johnson Co. acts for 1031 buyer in $2m acquisition
January 5, 2021
Clifton Park, NY Stan Johnson Co. has completed the sale of a single-tenant healthcare property. The 4,969 s/f building is located at 3 Emma Ln. and is fully leased to Rezolut Imaging.
Tectonic Engineering Consultants wins 2021 ACEC NY Gold Award
January 5, 2021
Mountainville, NY Tectonic Engineering Consultants, Geologists & Land Surveyors, D.P.C. (Tectonic), a leading multi-discipline engineering firm headquartered in Hudson Valley, received a Gold Award
CPC and Development Unlimited of WNY close $1.675m construction loan
January 5, 2021
Tonawanda, NY The Community Preservation Corp. (CPC) and David Pawlik, a principal member of Development Unlimited of WNY, LLC, closed on $1.675 million in construction financing to transform a former school building into a mixed-use property
Bucci of Acropolis Realty Group handles Upstate sales totaling over $5.265 million
January 5, 2021
Mexico, NY Andréa Bucci, associate real estate broker with Acropolis Realty Group, handled the following transactions: • 5-16 Kimberly Ln. sold for $2.71 million, above asking price. Kimberly Apts, LLC sold to an undisclosed buyer.
BOMA New York – 2021 with an optimistic lens - by Hani Salama
January 5, 2021
Happy New Year! As we enter 2021 and I look back at the previous year, my heart fills with gratitude, pride, and hope. Despite the year afflicted by a pandemic, rallies and social unrest, the commercial real estate industry carried New York City on its shoulders.
IREM NYC education offerings for 2021
January 5, 2021
New York, NY The IREM NYC chapter has decided to continue to offer courses virtually in the new year. This means that if you’re thinking about becoming a Certified Property Manager
IREM NYC welcomes four new CPMs
January 5, 2021
New York, NY IREM NYC welcomed four new Certified Property Managers (CPMs) who were sworn in at the chapter’s December Zoom meeing. The new CPMs are:
IREM NYC donates $17,906.50 to GiGi’s Playhouse NYC
January 5, 2021
New York, NY That’s one big check! Thanks to the generosity of members and friends who attended our October clay shoot, IREM NYC is thrilled to donate $17,906.50 to GiGi’s Playhouse NYC. GiGi’s is a community center where people with Down Syndrome and their families gather to celebrate, inspire, and empower each other
Hospitality owners should aggressively seek property tax reductions in 2021 - by David Wilkes
January 5, 2021
The Roosevelt Hotel, located on East 45th St. in Manhattan, was a New York City landmark. Named for President Theodore Roosevelt, the storied hotel was the backdrop for major motion pictures and known as a fixture of the Manhattan skyline.
Adaptive reuse for commercial real estate - by Charles Witczak
January 5, 2021
Adaptive reuse refers to the process of reusing an existing building or property for a purpose other than which it was originally built or developed. It is also known as repositioning or conversion. Adaptive reuse is an effective strategy
Hudson Companies begins closings at 38-story tower, One Clinton
January 5, 2021
Brooklyn, NY According to developer Hudson Companies, closings have commenced at One Clinton, the 38-story limestone residential tower in Brooklyn Heights. Designed by Marvel Architects with interiors by Studio DB, One Clinton is a collection of 134 modern homes with open layouts
23-10 30th Drive LLC launch sales at The ELY in Astoria
January 5, 2021
Queens, NY The ELY, a new luxury boutique condominium building, just launched sales. Developed by? 23-10 30th Drive LLC, The ELY, located at 23-10 30th Drive Ave. in the Astoria neighborhood, will offer 14 one-bedroom units ranging from 480 to 620 s/f.
Strategies for turning around COVID-distressed properties - by Carmelo Milio
January 5, 2021
Due to the ongoing pandemic, many landlords are faced with an increasing number of distressed properties. The dramatic increase in unemployment and reduction in income for so many has led to a mass exodus out of Manhattan, an increase in the number of empty rental units
Resnick named CEO of Douglaston Development
January 5, 2021
New York, NY According to Douglaston Development, a national leader and one of the largest residential and mixed-use developers in New York City, Jed Resnick has been named CEO of the firm. As CEO, Resnick will be responsible for implementing the company’s strategic vision
Broad Street Dev. begins closings at 40 Bleecker
January 5, 2021
Manhattan, NY According to Broad Street Development, a leading privately held, New York-based real estate developer, investor and operator, closings have commenced at its new luxury boutique condominium project in NoHo, 40 Bleecker.
Roe Corp. begins sales at Charlotte of the Upper West Side
January 5, 2021
Manhattan, NY Roe Corp., a leading privately held, real estate development and investment firm, has launched sales for what is believed to be one of the most sustainable condominium buildings ever built in the city. Named, Charlotte of the Upper West Side, as a nod to the
Nassimian and Goldflam of Highcap Group sell Long Island City development site for $13 million
December 15, 2020
Queens, NY Rodney Nassimian, investment sales associate, and Josh Goldflam, co-founder & principal of Highcap Group, have completed the sale of the property located at 46-30 21st St. in Long Island City. The property was owned for nearly 50 years by the same family
Topaz Capital buys 4th Jacksonville Florida multifamily asset within 24 months
December 15, 2020
Jacksonville, FL New York City-based Topaz Capital Group LLC has acquired its 4th multifamily property in Jacksonville with the latest closing of the Axis Plex Apartments (soon-to-be Topaz Oaks Apartments), a brand-new 2020 vintage, 73-unit multifamily garden-style community
The Doe Fund receives Temporary Certificate of Occupancy for Villa House
December 15, 2020
New York, NY According to The Doe Fund, it has received a Temporary Certificate of Occupancy for Villa House, which will serve formerly homeless individuals and individuals or households from the NYCHA waitlist with