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JLL sells 10,560 s/f for $10.85 million on behalf of GAK Properties LLC
April 21, 2020
Manhattan, NY JLL Capital Markets completed the sale of 219-221 East 59th St., two contiguous, mixed-use properties in the Midtown East submarket, for GAK Properties LLC. Cofinance Inc.,
Federal Realty Investment Trust partners with Applebees
to give meals to New York Presbyterian H...
April 21, 2020
Queens, NY Fresh Meadows Place owner Federal Realty Investment Trust has partnered with tenant Applebee’s Grill + Bar to provide 60 breakfasts for the next 30 days to staff at nearby New York Presbyterian Hospital. The hard-working
Jonathan Rose Cos. acquires Tower West Apartments – 217 units
April 21, 2020
Manhattan, NY Jonathan Rose Companies has acquired Tower West Apartments, a 217-unit HUD-regulated, partial Section 8, and New York City supervised Mitchell-Lama family housing asset at 65 West 96th St. on the
Rockport Mortgage places $38.6 million refinance
April 21, 2020
Brooklyn, NY Rockport Mortgage Corp. closed a FHA Section 223(f) refinancing loan of $38.6 million for Union Street Houses. The property is owned by Scott Jaffee,
Marcus & Millichap completes $16.76m sale of Queens multifamily
April 21, 2020
Queens, NY Marcus & Millichap has completed the sale of 31-65 29th St., a multifamily building located in the Astoria neighborhood, according to John Krueger, vice president and regional manager of the
SKW Funding closes $30 million financing – secured by Upper East Side property
April 20, 2020
Manhattan, NY SKW Funding closed on $30 million in financing to support the acquisition of an existing loan and related bankruptcy court approved "debtor in possession (DIP) loan for a building located on the Upper East Side.
Today’s uncertain world is forcing businesses to adapt and reposition to ensure survival - by Rob ...
April 21, 2020
The uncertainty of today’s world is forcing businesses to adapt and reposition themselves so that they can make it through these challenging times. History has shown us that
Company of the Month: National Standard Abstract navigates through COVID-19 pandemic
April 21, 2020
New York, NY No one could have foreseen the economic downturn in the first quarter of 2020 as the novel coronavirus (COVID-19) made landfall in the U.S. this past January. With millions of lives at stake, gubernatorial executive orders were
JLL completes four sales in Manhattan: $37.275 million total
April 21, 2020
Manhattan, NY JLL Capital Markets have completed the following transactions: The $13.85 million sale of 1364 and 1368 York Ave., a pair of mixed-use buildings in the Lennox Hill neighborhood on the
NYSERDA names winners of Future Grid Challenge
April 21, 2020
New York, NY The New York State Energy Research and Development Authority (NYSERDA) unveiled awards to five teams under the first two rounds of the Future Grid Challenge aimed at developing solutions to integrate clean and renewable energy into the
For landlords: First the enactment of the HTSPA, now the COVID-19 crisis - by Anthony Cummings
April 20, 2020
Landlords took a big hit with the enactment of the HTSPA in June 2019 and the New York State Legislature is seemingly poised to deliver another with a proposed Act (S. 8125, the “Act”) that will “suspend” rent payments for certain residential tenants and
New York Multifamily Group at Marcus & Millichap brokers $14 million sale of 21,258 s/f
April 21, 2020
Manhattan, NY According to Marcus & Millichap, they have completed the sale of 21-23 Catherine St. The property traded for $14 million. The sale price equates to $659 per s/f with a 6.46% cap rate. The asset totals 21,258 s/f and is located in the
Avison Young handles leasehold sale – $10.2 million
April 21, 2020
Manhattan, NY The Tri-State Investment Sales Group for Avison Young has arranged the sale of the leasehold interest of a newly-constructed, four-story, office building located at 286 Lenox Ave. between West 124th and 125th Sts. in Harlem.
Maxons Restorations details approaches to decontaminate buildings
April 21, 2020
New York, NY The coronavirus crisis warrants two different approaches by owners and managers of residential and commercial buildings, according to Howard White, president of Maxons Restorations.
Bestreich Realty Group brokers two Brooklyn sales: $8.75m total
April 21, 2020
Brooklyn, NY Bestreich Realty Group (BRG) completed the following: 82 Clinton Ave.: This four-apartment multifamily is located between Myrtle and Park Aves.
Janus Property Co. secures 10-year lease for GLUCK+ in West Harlem
April 21, 2020
New York, NY According to the Janus Property Co., architect-led design-build firm GLUCK+ has signed a 10-year lease in West Harlem’s Manhattanville Factory District, at 423 West 127th St. Asking rent for the space was $55 per s/f.
Doshi, Mehra and Schechtman of Meridian sell 77 units for $10.75 million
April 21, 2020
New Rochelle, NY Meridian’s Amit Doshi, Shallini Mehra and David Schechtman teamed up to handle an exclusive listing at 246-248 Centre Ave. The 77-unit dual elevator property sold for $10.75 million, yielding a
Investment Sales: Virtually normal - by Ron Cohen
April 21, 2020
In addition to an awkward elbow bump greeting, for most of us teleconferenced meetings have recently become the norm. At Besen, the partners have two to three Zoom calls weekly, and divisional teams meet fully
NYREJ launches One-on-One with Rick Kaplan on YouTube
April 23, 2020
New York, NY The New York Real Estate Journal has launched a new YouTube show called NYREJ One-on-One with Rick Kaplan. We will be producing one interview weekly. Kaplan’s first interview of the week is with Peter Hunt of Hunt RE and Cheryl Taylor of ERA Key
Delisle of Island Associates is sole broker for $1.15 million sale
April 21, 2020
Islip, NY Roger Delisle of Island Associates Real Estate Inc. negotiated and closed the purchase and sale of 417 Main St. The sale price was $1.15 million.