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Construction Law: Commercial leases during the Pandemic - by C. Jaye Berger
July 7, 2020
The issue of how to handle the non-payment of commercial rent in New York City, as a result of the Pandemic, is a big one. Many commercial tenants have tried the approach of
Crisalli, Crisalli and Arcuri of SRG sell 13,452 s/f for $1.42m; firm completes two additional sales...
July 7, 2020
Syracuse, NY Syracuse Realty Group (SRG) has completed the following transactions: 135 E. Water St. was sold for $1.42 million. The 13,452 s/f historic Hanover Sq. mixed-use building contains
Rodriguez of Rodriguez Commercial Realty sells 3,120 s/f property for $994,999
July 7, 2020
Brooklyn, NY Erik Rodriguez of Rodriguez Commercial Realty (RCR) was the sole broker in the $994,999 sale of 448 E 46th St. located between Church and Snyder Aves., in the East Flatbush neighborhood.
Lynx Mortgage Bank secures $12.5 million financing for 80-key Holiday Inn Express in New Rochelle
July 7, 2020
New Rochelle, NY Lynx Mortgage Bank, LLC – Commercial Division has secured $12.5 million conventional ground up financing for 34,000 s/f, 80-key Holiday Inn Express.
Lendlease and L+M Development close on $250 million construction financing for 100 Claremont Ave.
July 7, 2020
Manhattan, NY Lendlease and L+M Development Partners have closed on their construction financing for 100 Claremont Ave. 100 Claremont Ave. is a transformative 354,000 s/f
Kings Capital Construction Group lead distribution of 40,000 pounds of fresh produce
July 6, 2020
White Plains, NY Over 40,000 pounds of fresh produce was packaged in 1,580 boxes and distributed at the Ebersole Ice Rink on Friday, June 5th thanks to JD Summa and Mike Casarella, principals of Kings Capital Construction Group Inc.
Eastern Union offers ‘virtual summer underwriting internships’ for college and post-graduate stu...
July 6, 2020
Brooklyn, NY Eastern Union is offering “Virtual Summer Underwriting Internships” to college and post-graduate students. The part-time internships—conducted remotely—will help students develop their proficiency in
The Counselors of Real Estate releases its top ten issues affecting the industry: COVID-19 and econo...
July 2, 2020
Chicago IL The Counselors of Real Estate has identified the current and emerging issues expected to have the most significant impact on real estate, with the COVID-19 pandemic being the leading concern of the 1,000- member organization.
Three months into COVID-19:
Where are we now? - by Shallini Mehra
July 1, 2020
We get calls from investors looking for a pandemic discount every day. One thing is clear: There is no shortage of buyers with war chests ready to pounce on a bargain. Pre-COVID valuations for New York City multifamily rent-stabilized product were already down 30-40% after the passing of the HSTPA 2019 rent laws, driving cap rates into the 5-6% range.
Extinguishing restrictive covenants imposed as a condition of zoning approvals - by Forchelli and Sn...
June 30, 2020
Courts have long upheld the imposition of restrictive covenants as part of zoning approvals. As a result, boards routinely require applicants to record restrictive covenants as a condition of zoning approvals. Due to the fact that restrictive covenants are often drafted to “run with the land”, meaning the covenants
The Modera to feature upscale apartments in New Rochelle - by Matthew O'Shaughnessy
June 16, 2020
New Rochelle's lure and marketability are becoming more obvious as the downtown area continues its rapid pace of development. Developer Mill Creek Residential Trust of Boca Raton and Dallas is set to build on the former
Marcus & Millichap co-chairman William Millichap passes at age 76
June 24, 2020
Calabasas, CA According to Marcus & Millichap, William Millichap, co-chairman, has passed away after a year-long battle with cancer. He was 76 years old. Marcus & Millichap founder and chairman George Marcus issued the following statement: “The company’s formative years benefited greatly
What the new bird friendly Local Law 15 means to you - by Heath Waldorf
June 23, 2020
Bird safe buildings have been a growing part of the NYC skyline for years. Some examples of New York City architecture that incorporate the principles of bird-friendly design include The New York Times Building, Interactive Corp.’s headquarters, Cooper Union, and the renovated Jacob Javits Convention Center which
Will technology change the way we work in real estate? - by Rich Schulhoff
June 16, 2020
For the past 15 years I’ve been working in the real estate industry and since that time, I have seen countless changes within the business.
Scaffold Law Reform Coalition and the New York City Special Riggers Association request moratorium o...
June 21, 2020
New York, NY With the renewal of construction activity, the Scaffold Law Reform Coalition (SLRC) and the New York City Special Riggers Association (NYCSRA) have sent an appeal to governor
MHACY releases Request for Proposals to promote affordable housing in Yonkers
June 22, 2020
Yonkers, NY The Municipal Housing Authority for the City of Yonkers (MHACY) is seeking to partner with market rate building owners to expand the city’s base of affordable housing. MHACY released a request for proposals seeking building owners to participate in the Section 8 Housing program
Long Island Board of Realtors and the Hudson Gateway Assoc. of Realtors unveil new website for OneKe...
June 22, 2020
New York, NY The Long Island Board of Realtors, Inc. (LIBOR) and the Hudson Gateway Association of Realtors, Inc. (HGAR) unveiled the new consumer search website onekeymls.com. A recording of the virtual press conference unveiling the new website can be found
Feinstein joins The Watermark at Brooklyn Heights senior community as director of the People, Arts &...
June 16, 2020
Brooklyn, NY Aaron Feinstein, a film and theater director and arts educator, has joined The Watermark at Brooklyn Heights, a 275-unit seniors housing residence at 21 Clark St.
Cosentino, Bijou and Laboz of TerraCRG sell renovated, free-market building in Bushwick, Brooklyn fo...
June 18, 2020
Brooklyn, NY TerraCRG has completed the sale of 89 Wyckoff Ave., a free-market, mixed-used building in the Bushwick neighborhood. TerraCRG investment sales team led by Matt Cosentino, Fred Bijou and Eddie Laboz have closed the deal at
Design firm Mancini Duffy leads the way with office re-opening on June 8th
June 18, 2020
New York, NY Mancini Duffy celebrated the re-opening of its NYC office on June 8th, 2020, to all employees who felt comfortable returning. As one of the first design firms in the industry to return to the office, Mancini is starting to collaborate with its team and clients in person as New York