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Hakimi Capital Group buys 71,000 s/f for $1.4 million; Warren of Warren Real Estate is broker
April 21, 2020
Binghamton, NY Hakimi Capital Group (HCG) has acquired the Colonial Plaza Office Buildings located at 30 & 32 W. State St. and 457 & 477 State St. The four buildings total 71,000 s/f.
Innovo Property Group and Square Mile Capital
close $305 million construction loan
April 21, 2020
Bronx, NY Innovo Property Group (IPG) and Square Mile Capital Management LLC have obtained construction financing totaling $305 million for their development of a one million s/f two-story class A logistics and distribution facility at
Ginsburg Development Cos. acquires 74-unit Stratus on Hudson
in Yonkers for $39.5 million
April 21, 2020
Yonkers, NY Further adding to its presence in the city’s Greystone neighborhood, Ginsburg Development Cos. (GDC) has closed on the acquisition of Stratus on Hudson, a 74-unit rental building
Meridian Capital Group arranges $43.3 million for 5-building portfolio; loan by Capital One Multifam...
April 18, 2020
New York, NY Meridian Capital Group arranged $43.3 million in financing for a five-building multifamily portfolio located throughout Manhattan and the Bronx. The 10-year Fannie Mae loan, provided by Capital One Multifamily Finance, features a rate of
NEWRO Studios appeals to artists; 73-unit building features "live-work space" in New Rochelle
April 21, 2020
At 11 Burling Lane, in the center of the city is where you will find one of ELD Properties' latest developments. Billed as "artist live-work space", NEWRO Studios is a six-story, 73-unit building
Beckford House introduces elegant condominiums on NYC'S Upper East Side to debut this year
April 21, 2020
New York's unique Upper East Side is lined with prominent, upscale residential buildings that make the opulent area so becoming and desirable. Now about to be unveiled, the stunning and sophisticated
Municipal Housing Authority for the City of Yonkers appoints Kimball president and CEO
April 7, 2020
Yonkers, NY The Municipal Housing Authority for the City of Yonkers (MHACY) announced today the appointment of Wilson Kimball as President and CEO. Kimball succeeds Joseph Shuldiner who is retiring after
Economic relief for non-profit organizations through the Paycheck Protection Program - by Jodi Warre...
April 15, 2020
In response to the 2020 Coronavirus pandemic, President Trump signed into law, a $2.2 trillion economic stimulus program called the Coronavirus Aid, Relief, and Economic Security Act (“Cares Act”). The Cares Act
Doshi and Mehra of Meridian Capital Group complete $4.875m sale; Rosenfeld and Berger of Meridian ar...
April 7, 2020
Queens, NY Meridian Capital Group’s Amit Doshi and Shallini Mehra closed on the sale of 111-17 Northern Blvd. in the North Corona neighborhood. The corner multifamily
Virtual Doorman to offer free, expanded services for all customers during COVID-19 emergency
April 13, 2020
New York, NY Virtual Doorman, a New York-based provider of remote doorman and security services, announced details of its emergency plan to expand services and provide much-needed security and safety to both its customers and their buildings’ staff throughout the COVID-19 pandemic.
COVID-19 may provide RE taxpayers another chance to reduce taxes - by John Terrana and Gabriella Bot...
April 13, 2020
New York property owners who routinely challenge their real estate taxes are probably familiar with the three-year moratorium that applies in many tax certiorari settlements. In all of New York State, excluding Nassau County and New York City, unless
IVY Inc.’s Global Learners Program raises thousands, provides Easter dinner in support of seniors,...
April 7, 2020
New York, NY In honor of the doctors and nurses working tirelessly to win the war against Covid-19, IVY Inc.’s Global Learners Program raised funds last week to supply and deliver cooked meals to medical staff at two New York hospitals
JLL closes $18.2 million sale of development site at 171 North 1st St. for Stanislaw Rys/Kevsta Inc....
April 10, 2020
Brooklyn, NY JLL Capital Markets closed the sale of 171 North 1st St in the Williamsburg neighborhood for Stanislaw Rys/Kevsta Inc. Gemini Rosemont Commercial Real Estate acquired the mixed-use development site for $18.2 million.
COVID-19, cannabis and the future of commercial real estate - by Richard Acosta
April 10, 2020
As COVID-19 continues to rack the U.S. with unprecedented hospitalization, death and unemployment rates, landlords and real estate investors alike are trying to understand and prepare for the future of commercial real estate. And while mainstream CRE, especially retail,
The coronavirus pandemic and its impact on the CRE market by Marjorie Peerce and Brian Schulman
April 10, 2020
The coronavirus pandemic has caused a lot of confusion, but even in the midst of great uncertainty, one thing is clear: The commercial real estate market is looking at a turbulent time up ahead. Economists don’t agree on whether we’re in for a short-but-painful economic dip or a
Best practices for managing during a crisis - by Tim Curran
April 10, 2020
Emergency situations – whether they are sudden like a fire or continually developing crises like the COVID-19 outbreak – necessitate efficient responses from property owners and operators, and require established plans. The ability to execute on these depends on the
Copper Compression donates 18,000 reusable copper-infused masks to NY/NJ Metro health systems
April 7, 2020
New York, NY Copper Compression, a designer, manufacturer and provider of a wide range of copper-infused recovery wearables and self-care solutions, donated and delivered 18,000 Kn99 copper-infused face masks across several local New York City/New Jersey area health systems.
Eagerly awaiting a Covid-19 extension for 1031 Exchanges - by Todd Pajonas, Matthew Scheriff and Jam...
April 8, 2020
A 1031 exchange is a tax strategy used by real estate investors to defer capital gains tax recognized upon the sale of real estate. In order to successfully complete a 1031 exchange,
Doshi and Mehra of Meridian represent buyer and seller in $7.85 million sale of 41,000 s/f property
April 7, 2020
Manhattan, NY Meridian’s Amit Doshi and Shallini Mehra sold an exclusive listing at 20 Sherman Ave. in the Inwood neighborhood. The 94-ft.-wide property sold for $7.85 million, yielding a capitalization rate of 5.6%, $191 per s/f, $186,906 per unit and
SBA Issues New Guidance on Paycheck Protection Program - by Joseph Most, J.D.
April 7, 2020
Last night, the Small Business Administration (SBA) published additional guidance relating to the Paycheck Protection Program (PPP) in the form of FAQs. To date, this is the most clarity that the SBA has provided relating to this new lending program and