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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.
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