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Friedman-Roth Realty broker two sales; includes $7.5m deal by Inglese and Haque
August 18, 2020
New York, NY According to Friedman-Roth Realty Services, the firm has completed two sales totaling $12.175 million. The sale of an East Village apartment building located at 17 East 7th St. The five-story walk-up includes
Lendlease, L+M secure Daiwa House as equity partner for 100 Claremont
August 18, 2020
Manhattan, NY Lendlease and L+M have brought on a new joint venture partner, Daiwa House Texas Inc., to create a new mixed-use development at 100 Claremont Avenue. The project, designed by
LIHC Investment Group and Rockport Mortgage close $65 million financing
August 18, 2020
Manhattan, NY LIHC Investment Group and Rockport Mortgage Corp. closed a $65 million FHA Section 223(f) refinancing loan for Renwick Garden Apartments, a 224-unit subsidized Section 8 property supporting many elderly and
Black Bear Capital Partners arrange $62.019 million for FTERE
August 18, 2020
Bronx, NY According to Black Bear Capital Partners (BBCP), a real estate financial advisory firm and subsidiary of Black Bear Asset Management, it has arranged $62.019 million in permanent financing on behalf of
National Standard Abstract continues to support essential workers, students, & formerly homeless
August 18, 2020
Westbury, NY Amid a global pandemic and economic downturn, National Standard Abstract galvanized its resources to empower people of African descent—the community hardest hit by COVID-19 as thousands of families are
Lisser, Lechtman and Turner of MMCC facilitate $20m financing
August 18, 2020
Manhattan, NY According to John Krueger, vice president and regional manager, Marcus & Millichap Capital Corp. (MMCC) 305 E 72nd St., anchored by a CVS Pharmacy, and two restaurants, received $20 million in
Eastern Union’s ‘Virtual Summer Underwriting Internship’ attracts 500 students
August 18, 2020
Brooklyn, NY Eastern Union enrolled 500 students from 29 countries into its “Virtual Summer Underwriting Internship” program launched in June.
CetraRuddy to provide design services for Clarkson Estates
August 18, 2020
Brooklyn, NY Architecture, planning and interior design firm CetraRuddy has been selected as part of the winning team chosen for a 291-unit affordable housing complex. Health Science Center at Brooklyn Foundation currently
Ariel Property Advisors arranges sale of Bronx multifamily assemblage
August 18, 2020
Bronx, NY Ariel Property Advisors has arranged the sale of 1130-1134 and 1142 Bryant Ave. for $5.85 million. The three building, 24-unit multifamily assemblage is located in the Foxhurst neighborhood, on the east side of
Veloce Capital launches fund for real estate investments
August 18, 2020
Hackensack, NJ Veloce Capital launched its new fund for real estate investments; specifically created for investments in distressed assets that have been directly affected by COVID-19. The fund will provide accredited
Darouvar, Setareh, Sarraf and Sabet of Venture Capital Properties handle $7.5m sale in East Harlem
August 18, 2020
Manhattan, NY Kevin Darouvar, Uriel Setareh, Yoel Sarraf and Ryan Sabet of Venture Capital Properties represented The Helen Altheim Stevens Management Trust in a $7.5 million sale of two adjacent five-story mixed-use assets located at 1904-1906 3rd Ave.
MAP tops off two projects: The Bedford and The Bryant
August 18, 2020
Bronx, NY According to Magnusson Architecture and Planning PC (MAP) two projects topped off this month: The Bedford and The Bryant.
Cohen, Marks, Tannenbaum and Lebor of TerraCRG broker $29.5 million
August 18, 2020
Brooklyn, NY TerraCRG closed on the sale of the office building at 6201 15th Ave. and parking lot at 6310 15th Ave. for $29.5 million Ofer Cohen, Dan Marks, Daniel Lebor and Adam Tannenbaum exclusively
Investing in our poorest communities to rebuild the U.S. - by Jim White
August 18, 2020
Right now, there are some 8,800 distressed communities across the country, identified by state and designated as Qualified Opportunity Zones (QOFs) by the federal government. They have in common the fact that they are struggling with unemployment,
Mediation in the current world of COVID-19, revisited - by Peter Mastaglio
August 18, 2020
It goes without saying that all aspects of our lives are affected by the dangers and restrictions imposed by the COVID-19 pandemic. On the professional side, for those who practice civil and commercial litigation, courtrooms are still closed.
Bestreich Realty Group closes two deals totaling $8.55 million
August 18, 2020
Brooklyn, NY Bestreich Realty Group (BRG) closed the following: The $4.55 million sale of 181 Court St. in the Boreum Hill neighborhood. This 6,780 s/f mixed-use property consists of six apartments and
Alpha Realty brokers off-market sale – $8.55 million
August 18, 2020
Brooklyn, NY Alpha Realty brokered the sale of 1675 Ocean Avenue, in the Midwood neighborhood. The six-story elevator property consists of 48 apartments and two offices, totaling 54,000 s/f. The property traded for $8.55 million.
CPC and Ocean Towers Partners refinance 360 units – $48 million
August 18, 2020
Brooklyn, NY According to CPC Mortgage Co., a subsidiary of The Community Preservation Corp., and Ocean Towers Partners LLC, a joint venture between Proto Property Services, LLC and the Community Development Trust (CDT), closed a
Executive of the Month: Devin Kulka, CEO of The Kulka Group, launches new multimedia platform
August 18, 2020
Hauppauge, NY The New York Real Estate Journal (NYREJ) sat down with Devin Kulka, CEO of The Kulka group, for a question and answer session about the launch of Kulka Interactive, a multimedia platform and the impact of Kulka Interactive, a multimedia
Proposed Section 1031 regulations define ‘real property’ for purposes of like-kind exchanges - b...
August 18, 2020
The 2017 Tax Cuts and Jobs Act (TCJA) repealed like-kind exchanges (Section 1031) for all other types of property that are not real property. As a result of the changes introduced in the TCJA, exactly what is considered real property has taken on