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Shawmut develops technology-based COVID-19 safety platform
August 4, 2020
New York, NY Shawmut Design and Construction has developed a COVID-19 safety plan, created in partnership with trade unions, industry peer groups, and other leading firms. The firm has rolled out
Court action unlikely following eviction hold - by Michael Romer and Pierre Debbas
August 4, 2020
Despite residential tenant evictions having been put on hold until August, don’t expect to see a mad rush to housing court come the end of summer. Changes to rent regulation legislation in 2019 led to the burden of finding a new tenant be put on the landlord. Therefore, while a landlord does have the right to
The impact of COVID-19 on cities - by Hugh Kelly
August 4, 2020
Of all the organs in our body, the eye is perhaps the most extraordinary. We consider it our window on the world, but it is so much more than a mere transparent pane of glass. The eye has tremendous powers of accommodation to changes in the world,
BridgeCore Capital funds $16.5 million loan
August 4, 2020
Manhattan, NY BridgeCore Capital funded a $16.5 million non-recourse bridge loan for its client to buy two contiguous buildings containing 72 residential units and ground floor retail in Greenwich Village.
Cushman & Wakefield brokers three sales – $13.7 million total
August 4, 2020
Bronx, NY Cushman & Wakefield (C&W) arranged the following: The sale of 5278 Post Rd., also known as 6301 Broadway, a 121,188 s/f development site in the Riverdale neighborhood. The final sale price was $7.9 million equating to $114 per above grade residential buildable s/f.
Helmsley Spear arranges sublease for Keller WIlliams – 20,000 s/f
August 4, 2020
Manhattan, NY Helmsley Spear, LLC, completed a 20,000 s/f sublease to Keller Williams for the 10th floor of 99 Park Ave. Gould Paper Corp., the current tenant, will continue to occupy 8,718 s/f of the space.
Employer liability during Phase Four of reopening in New York City - by Mark Silverstein and Lynn Ju...
August 4, 2020
New York City has just reached an important milestone. As of July 20th, the city has entered Phase Four of reopening, in which retail businesses, hair salons and personal service businesses, low-risk outdoor venues (zoos and gardens), media production companies
Rock and Marks of Marcus & Millichap Capital Corp. arrange $15 million refinancing
August 4, 2020
Manhattan, NY Marcus & Millichap Capital Corp. (MMCC) has completed the financing of 521-523 W 48th St., according to regional manager/vice president John Krueger. MMCC organized $15 million in refinancing.
Rodriguez of Rodriguez Commercial represents Klosed in $1.45 million Brooklyn acquisition
August 4, 2020
Brooklyn, NY Klosed Properties acquired 91 East 21st St. in the Prospect Park South neighborhood for $1.45 million. The subject property is a 16-unit, rent-stabilized building containing 19,500 s/f. Erik Rodriguez of Rodriguez Commercial
Marx Realty signs 10-year lease with Wells Fargo
August 4, 2020
Manhattan, NY Marx Realty has signed a 10-year retail lease with Wells Fargo to occupy 4,700 s/f of retail space at 545 Madison Ave. in the Plaza District. Marx Realty was represented internally by Henry Henderson and Wells Fargo was represented by Annette Healey of CBRE.
Cole Schotz P.C. advises G4 Capital Partners in $75 million loan
August 4, 2020
Manhattan, NY Cole Schotz P.C. has advised G4 Capital Partners in a $75 million loan to Jeffrey Dagowitz’s JHG Holdings and investor Adam Neumann for a future project on West 23rd St. G4 provided the debt, which refinances
Coaching: Standing is a start, but it’s time for doing - by Rod Santomassimo
August 4, 2020
In the wake of the racial unrest that continues to hold back our great country, our communities, and yes, even our industry, over the last several weeks, I have met with our African American clients, colleagues, and several associates.
Gemini Rosemont Development buys East Village site for $14.5 million
August 4, 2020
Manhattan, NY Gemini Rosemont Development, a division of Gemini Rosemont Commercial Real Estate, has acquired 38 Second Ave. in the East Village. The property was purchased from LaSalle New York City, Inc., for $14.5 million.
CBRE Long Island reps. RXR Rlty. in $32 million sale to The Feil Org.;
Sperry and Tylenda of CBR...
August 4, 2020
Melville and Albany, NY CBRE has completed two sales totaling $36.05 million. The CBRE Team of Jeff Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride and Travis Langer in collaboration with Philip Heilpern of CBRE’S Long Island Office completed the
Global One Real Estate Fund II acquires
Queens property for $26.5 million; JLL handles sale
August 4, 2020
Queens, NY According to JLL, Global One Real Estate Fund II, an affiliate of Nelson Management Group, has acquired the six-story mixed-use building at 105-05 69th Ave. in Forest Hills.
The Real Estate Board of New York honors Retail Deal of the Year Award winners at the 22nd Annual Ce...
July 31, 2020
New York, NY The Real Estate Board of New York (REBNY) honored winners of its 22nd Annual Retail Deal of the Year Awards at a virtual ceremony held July 30th, where a portion of the proceeds benefitted Citymeals on Wheels.
Which NYC neighborhoods have the best–and worst–air quality, according To New Yorkers? - by Ioan...
July 21, 2020
Living in a highly trafficked city like New York comes with plenty of advantages, but it also comes with some unwanted “perks” like congestion, noise, and pollution. So, where in NYC do
Boyce of PWGC appointed treasurer of ACEC BIT and Greyling/EPIC
July 30, 2020
Bohemia, NY According to P.W. Grosser Consulting, Inc., (PWGC) Paul Boyce, PE, PG, has been appointed treasurer of The American Council of Engineering Companies (ACEC) Business Insurance Trust (BIT) and
Security deposit insurance may result in unfunded liability for low income tenants by Daniel Pessar
July 30, 2020
2020 has been a banner year for the security deposit insurance industry. Earlier this year, the Cincinnati City Council passed an ordinance which requires landlords who own and control more than 25 units to offer alternatives to a typical security deposit requirement. Although New York
Bridgewater Capital Partners arranges $4.1 million for a vacant land acquisition in Newark
July 21, 2020
Newark, NJ Bridgewater Capital Partners has arranged $4.1 million for a vacant land acquisition. The site, 50 Bruen St., is approved for a