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Statement by REBNY president Whelan on new Executive Order allowing temporary virtual notarization o...
March 20, 2020
New York, NY Governor Andrew Cuomo yesterday released Executive Order 202.7 allowing the temporary virtual notarization of documents during the Coronavirus (COVID-19) crisis.
Helping Brooklyn - CRE Response to COVID-19
March 19, 2020
Brooklyn, NY During this time of uncertainty, DJ Johnston of B6 Real Estate, Sean Kelly of Ariel Property Advisors, and Dan Marks of TerraCRG have come together to create Brooklyn Brokers United. "Brooklyn has been good to us and our families and
Inglese and Haque of Friedman-Roth Realty facilitate $30 million sale
March 24, 2020
Bronx, NY In an off-market transaction, Friedman-Roth Realty Services completed the $30 million sale of a package of three, six-story elevator apartment buildings. The seller was represented by Giuseppe Inglese and Nadeem Haque.
BuildingsNY postponed due to the COVID-19 virus – To be held June 17-18, 2020
March 19, 2020
“We want to express our concern for all those impacted by COVID-19,” said Randy Field, group vice president, Reed Exhibitions. “We have been closely monitoring developments and reviewing guidance related to the COVID-19 virus from federal, state and local authorities and
Marcus & Millichap brokers four sales totaling $9.907 million; includes $3.2m handled by Riney, Salv...
March 24, 2020
Brooklyn, NY Marcus & Millichap has completed the following: 1248-1252 Flatbush Ave., an 8,415 s/f mixed-use property, sold for $3.2 million. Shaun Riney, Michael Salvatico, Daniel Greenblatt and Zalman Yarmush,
Zalta and Lai of Rosewood Realty Group collaborate for $5.37 million deal on the Upper East Side
March 24, 2020
Manhattan, NY Rosewood Realty Group brokered the $5.37 million sale of a four-story multifamily building on East 82nd St. near First Ave., on the Upper East Side. Rosewood’s Jack Zalta represented the seller, Mitchel Maidman of Townhouse Management and Ryan Lai, also of Rosewood,
Cohen, Pavone and Verdi of Colliers secure 20,000 s/f sublease for Levy Konigsberg LLP at 605 Third ...
March 24, 2020
Manhattan, NY Colliers International Group Inc. completed a 20,000 s/f sublease for law firm Levy Konigsberg LLP, at 605 Third Ave. The space was previously occupied by Univision. The firm is relocating from 800 Third Ave.
Handler Real Estate Org. arranges 50,040 s/f for Fred Alger Management at 100 Pearl St.
March 24, 2020
Manhattan, NY Handler Real Estate Org. has arranged a 50,040 s/f multi-floor relocation and expansion on behalf of Fred Alger Management, LLC at 100 Pearl St. Owned and operated by GFP Real Estate and Northwind Group,
Giannopoulos of Kings Capital acquires Brooklyn multifamily for $1.775 million
March 24, 2020
Brooklyn, NY George Giannopoulos of Kings Capital purchased 192 Rockaway Ave., an eight-unit building in the Bedford-Stuyvesant neighborhood. This property consisted of four free-market and four rent-stabilized apartments,
Fordham University finances $145.2 million through DASNY
March 24, 2020
Bronx, NY According to Reuben McDaniel, III, acting president and CEO of the Dormitory Authority of the State of New York (DASNY), Fordham University has issued $145.2 million in tax-exempt bonds through DASNY. Bond proceeds will go toward
RXR Realty leases 73,000 s/f to INTL FCStone at 230 Park Ave.; JLL acts for tenant
March 24, 2020
Manhattan, NY RXR Realty, an owner, operator, and developer, completed a long-term lease with financial services company, INTL FCStone Inc. at 230 Park Ave. Jordan Berger represented RXR in-house in the lease, along with
Special Report from Marcus & Millichap: Balancing portfolios in a transitioning market - by John Cha...
March 19, 2020
As the new coronavirus (COVID-19) broke free from China, the prospects of increased economic risks drove Wall Street into a flight to safety. Over the course of the following three weeks, the S&P 500 index fell 30 percent and pushed the 10-year Treasury to a record low, briefly
Pyramid Management Group closes interior portions of NYS shopping centers
March 18, 2020
Syracuse, NY Effective as of 8:00 p.m. on Thursday, March 19, 2020 and in accordance with the Order of New York governor Andrew Cuomo, Pyramid Management Group has instructed its employees to close all interior portions of its New York shopping centers and expects all tenants to
Short-term rentals are big competition for hotels, upstart industry reaching limits of urban expansi...
March 24, 2020
Short-term rentals are now big competition for hotels, but the upstart industry is reaching the limits of urban expansion. At 16.8%, New York City is among markets with highest penetration of short-term rentals.
The “Dark Store” dilemma – When assessors disregard fee simple valuation - by Erin O’Brien
March 24, 2020
Presently pending before the New York State Senate is Bill Number A04752, or, “An act to amend the real property tax law, in relation to requiring assessors using the comparable sales, income capitalization or cost method for
Sustainability: What’s trending and the environmental benefits of renting furniture - by Ron Lanz...
March 24, 2020
To all my loyal followers and readers who have become accustomed to my articles about “What to Rent and Look Who’s Renting What,” I’ll focus this article on sustainability.
How can landlords provide the amenities when rent regulations financially restrict them? - by Jordan...
March 24, 2020
There’s a clear paradox between the increasing tenant demand for more amenities within residential buildings, and New York’s recently-passed Housing Stability & Tenant Protection Act of 2019. How can landlords provide the
Product of the Month: InstaClosing, a Manhattan-based proptech startup launches e-closing services i...
March 26, 2020
Manhattan, NY InstaClosing, a locally-based proptech startup has launched its online closing platform making it the first company offering digital closings in New York State, and the first online platform in the
Potential implications of proposed mezzanine tax: Consequences for lenders and developers - by Rache...
March 24, 2020
As the real estate industry continues to grapple with the effects of rent reform, new legislation was introduced last month to the New York State Legislature that stands to create further confusion and unintentionally
New façade rules took effect February 20th in NYC - by Chris Krepcio
March 24, 2020
As of February 20, 2020, the newly amended rule governing exterior wall inspections and repairs has officially been put into effect. These new rules will have quite a large impact on building owners across New York City, including more stringent rules,