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Rudin Management Co. leases 8,200 s/f to La Prairie at 41 Madison Ave.
November 5, 2019
Manhattan, NY According to the Rudin Family, Swiss skincare brand La Prairie has finalized a 10-year lease at 41 Madison Ave. in the Flatiron District. The company will occupy 8,200 s/f on a portion of the 40th floor.
Zere of Zere Real Estate Services closes two leases – 3,500 s/f total
November 5, 2019
Smithtown, NY Michael Zere, executive vice president, Zere Real Estate Services closed two new commercial office space deals at 496 Smithtown ByPass, located on NYS Rte. 347.
Someck and Myers of LeeNYC collaborate for two leases totaling 22,000 s/f; Schultz and Lopez of LeeN...
November 5, 2019
Manhattan, NY Lee & Associates NYC (LeeNYC) have completed three leases totaling 25,200 s/f. Dennis Someck, executive managing director/principal, and Justin Myers, senior managing director/principal, arranged two subleases of 11,000 s/f each
Roesch and Dweck of Meridian broker 1,000 s/f
November 5, 2019
Manhattan, NY According to Stonehenge NYC, Jet’s Pizza has opened its first location in the city in the retail portion of residential building Stonehenge 18, at 120 9th Ave. Meridian’s John Roesch represented Jet’s Pizza, while Steven Dweck of Meridian
Yankelovich of GFI Realty Services acts for buyer and seller in $2.8 million sale
November 5, 2019
Brooklyn, NY GFI Realty Services, LLC handled the $2.8 million sale of 1807 Avenue P, a mixed-use building located in the Midwood neighborhood. The 5,600 s/f building is composed of two apartments and a medical office.
Arch Cos. acquires Brooklyn development site for $2.85 million; financing provided by Tideway Capita...
November 5, 2019
Brooklyn, NY Arch Companies has acquired 550 Metropolitan Ave., the site of a future six-story residential building with ground floor retail in the Williamsburg neighborhood. The acquisition price was $2.85 million.
Company of the Month: Going above and beyond title insurance – Cornerstone Land Abstract is changi...
November 5, 2019
Founded in 2008, Cornerstone has established an impressive industry record with 12,000+ deals successfully closed and more than $8 billion in closed transactions. They have navigated high profile residential and commercial transactions with some of the world’s largest underwriters.
Legal 1031 Exchange Services to hold complimentary CLE classes
November 5, 2019
New York, NY Legal 1031 Exchange Services, LLC is hosting a breakfast and complimentary CLE class, “Minimize Taxes, Maximize Wealth: Understanding Tax Deferral Strategies When Selling Real Estate.”
HKS Real Estate Advisors handle four sales totalling $14.05 million
November 5, 2019
Manhattan, NY HKS Real Estate Advisors has completed the following transactions:
A $5.5 million refinance of a five-story mixed-use asset comprised of eight residential units and one retail unit in Hell’s Kitchen.
Fried Frank acts as counsel to Tishman Speyer in 620,000 s/f lease
November 5, 2019
Manhattan, NY Fried Frank acted as counsel to Tishman Speyer in connection with its 99-year, 620,000 s/f lease of the Morgan North Post Office from the US Postal Service. Tishman Speyer leased the top six floors of the
Credit for improvements in a Section 1031 Exchange - by Pamela Michaels
November 5, 2019
Frequently, investors ask whether they can buy property and make improvements to it as replacement property in a Section 1031 exchange. The answer is “yes” as long as the exchange is properly structured from initiation and the regulations governing improvement exchanges are followed.
NYSERDA and Citizens Energy complete 1.4-MW solar project to Serve Upstate Cerebral Palsy in Oneida ...
November 5, 2019
Barneveld, NY The New York State Energy Research and Development Authority (NYSERDA) and Citizens Energy Corp. celebrated the completion of a 1.4-megawatt solar project in the Mohawk Valley. Located at 10686 North Gage
Coaching: Goodbye to the best decade of our lifetime - by Rod Santomassimo
November 5, 2019
2009-2019 has been one hell of a ride. What started with the worse economic downturn of our lifetime, rebounded to one of the loudest booms in our economy, our business, and our lives. At least it should have for most. In Q4 2009 many of us
HREC arranges sale and purchase financing for Hampton Inn - Rochester
November 5, 2019
Rochester, NY HREC Investment Advisors has arranged the sale and purchase financing of the 117-guestroom Hampton Inn Rochester North. The sale was led by Ketan Patel and Mark von Dwingelo, and purchase financing was led by John Siska
Duna RE Group acquires Hudson Valley properties for $9.725 million; Ralby of HKS arranges financing
November 5, 2019
Kingston, NY Duna Real Estate Group has completed its $9.725 million acquisition of three artist and creative live-work loft properties. The portfolio totals 120,000 s/f in the city’s Midtown Arts District. The
Cravath takes 481,000 s/f at Brookfield's Two Manhattan West office tower
November 5, 2019
Manhattan, NY According to Brookfield Properties, Cravath, Swaine & Moore LLP will become the anchor tenant at Two Manhattan West, Brookfield’s next 58-story, 1.9-million s/f office tower, which is under construction on 31st St. and Ninth
Pembrook Capital Management provides $5.75 million preferred equity financing
November 5, 2019
Westbury, NY Pembrook Capital Management LLC has closed a $5.75 million preferred equity investment to recapitalize 1025 Old Country Rd., a 200,000 s/f office building and colocation/data center
Sozio and Gillis of Ariel Property Advisors facilitate $75.5 million sale of Harlen Housing affordab...
November 5, 2019
Manhattan, NY Fairstead Affordable has purchased Harlen Housing, a two-building affordable housing portfolio made up of 214 units in Central Harlem. The property benefits from a HUD Project Based Section 8 contract and HPD Article 11 regulatory agreement and will
Construction begins on $22.8 million Westminster Commons; Buffalo Federation of Neighborhood Centers...
November 5, 2019
Buffalo, NY Construction on Westminster Commons, a $22.8 million housing and healthcare development for older adults, has begun. The project will include a newly constructed building with affordable and supportive
Empire Commercial Construction builds out 2,000 s/f Forno Di Laura with Greater Living Architecture
November 5, 2019
Penfield, NY Empire Commercial Construction was awarded the contract for construction of the new Forno Di Laura, a pizzeria and bakery build-out. Empire teamed with Greater Living Architecture for design and construction of the