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Construction begins for 12,000 s/f co-working space in Jamaica, Queens
January 7, 2020
Queens, NY According to governor Andrew Cuomo, construction on the Greater Jamaica Development Corp.’s Downtown Jamaica Co-Working and Training Facility has commenced. The facility will provide room for up to 80 local entrepreneurs and
Bestreich, Reynolds, Reynolds, and Davilia of BRG sell Brooklyn multifamily for $1.7 million
January 7, 2020
Brooklyn, NY Bestreich Realty Group (BRG) completed the sale of 750 MacDonough St. in the Ocean Hill neighborhood. This six-unit multifamily sold for $1.7 million.
Zar of Zar Property and Kubie of LSL Advisors broker 2,500 s/f lease
January 7, 2020
Manhattan, NY Prodigy Brands, a footwear company with showrooms in New York and Florida has signed a 2,500 s/f lease at 250 West 54th St. in Midtown. They signed a 10-year lease for the partial suite on the 6th floor of the
Klosed Props. acquires 110,000 s/f Bronx industrial building for $17.5 million
January 7, 2020
Bronx, NY Klosed Properties has acquired two properties totaling $19.015 million. 780 East 135th St., a vacant block-through elevatored industrial building, located in the Port Morris neighborhood was purchased for
Message from the CEO of Bronx-Manhattan North Assoc. of Realtors: “God bless us, Everyone!” - b...
January 7, 2020
On December 12th, 2019, The Bronx-Manhattan North Association of Realtors (BMNAR) gathered at Marina del Rey Caterers to celebrate their 35th Annual Holiday Party and Toy Drive. Hundreds of members, friends, and real estate professionals came out to
Brokerage beyond basics: Betesh of Meridian Capital Group discusses his approach to difficult market...
January 7, 2020
New York, NY For some brokers, a rapidly fluctuating market is a source of anxiety. For Morris Betesh, senior managing director of Meridian Capital Group and his team of eight, it’s a source of excitement. And lately, there’s been plenty of it as
Property of the Month: 55-59 Chrystie St. in New York City offers a unique opportunity for investors...
January 7, 2020
New York, NY Rosewood Realty is pleased to present the opportunity to joint venture or purchase 55-59 Chrystie St., a six-story elevator office/retail building currently in bankruptcy. The 46,365 s/f property, located in the
Ariel Property Advisors sells development site for $3.3 million
January 7, 2020
Brooklyn, NY Ariel Property Advisors has facilitated the sale of 99-103 Grove St., a 75’ x 100’ wide development site located in the Bushwick neighborhood. The asset, which benefits from being in an Economic Opportunity Zone, sold for $3.3 million, or
Famularo and Harlowe of Meridian Retail arrange 2,000 s/f restaurant lease
January 7, 2020
Manhattan, NY Meridian Retail Leasing, the retail leasing division of Meridian Capital Group, has arranged a long-term lease for an Omakase restaurant at 177 Ludlow St. in the Lower East Side
Kassin Sabbagh Realty brokers $28.5 million sale of 39,000 s/f building
January 7, 2020
New York, NY According to Kassin Sabbagh Realty, it has closed the sale of 207 East 94th St., a five-story 39,000 s/f commercial office building for $28.5 million. Glenwood Management sold to Elie Hirshfeld’s Hirschfeld Properties
Construction Law: Damage from a neighbor’s renovation - by C. Jaye Berger
January 7, 2020
I always advise my clients that the best time to gear up to handle damage from a neighbor’s renovation is before any damage occurs. Generally neighbors and/or managing agents of co-op or condominium buildings send out notices before a neighbor’s renovations commence.
Ranieri of NorthMarq completes $800,000 refinance of Canterbury Commons
January 7, 2020
Mount Vernon, NY Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office arranged the $800,000 refinance of Canterbury Commons. The 20-unit senior housing property is located on South Columbus Ave.
Ciafardoni and Sass of Silber Investment Properties handle $1.2 million sale
January 7, 2020
Lindenhurst, NY According to Silber Investment Properties, (SIP) a 20,000 s/f property located at 136 Sunrise Hwy. has been sold for $1.2 million (6.6% cap). The transaction occurred between two local Long Island investors, The Deperte Family (seller) and
Walker & Dunlop places $82 million in financing
January 7, 2020
Brooklyn, NY Walker & Dunlop, Inc. arranged $82 million in permanent financing for 158-unit Clover House, a newly renovated apartment complex in the Brooklyn Heights neighborhood.
SWBR recognized with Landmark Society Award for church restoration
January 7, 2020
Rochester, NY SWBR has been recognized by the Landmark Society of Western New York with a 2019 Stewardship Award for its work restoring Our Lady of Victory church. The annual award is given to individuals and organizations
A&E Real Estate Holdings acquires 539-unit Queens portfolio for $129.5 million
January 7, 2020
Queens, NY A&E Real Estate Holdings bought the 539-unit Kestenbaum Family Portfolio in Rego Park for $129.5 million. The price equates to $239,425 per unit at a 5% cap rate. The portfolio includes 568,276 s/f and 238,262 buildable s/f.
Robinson Brog represents Penn South Capital in $27.25 million sale; Greene of Robinson Brog and Daba...
January 7, 2020
Manhattan, NY Penn South Capital, a subsidiary of RAP Equities, has acquired a 40,000 s/f property at 39 Clarkson St. in the Hudson Sq. tech and media corridor. Represented by Adam Greene, partner at law firm Robinson Brog Leinwand Greene Genovese & Gluck P.C., and
Lottery held for Wyandanch Village’s newest residence, 1 Washington Ave.
January 7, 2020
Wyandanch, NY The Albanese Organization, with its joint venture partner Community Development Corp. of Long Island, hosted a lottery at the Wyandanch-Wheatley Heights Ambulance Corp. located at 295 Merritt Ave., to select the 123
Citrin Cooperman and IFA host roundtable
January 7, 2020
Melville, NY Citrin Cooperman and the Franchise Business Network of the International Franchise Association (IFA) hosted a roundtable on the Long Island franchise community on December 10th at Citrin Cooperman’s office.