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S3 Capital originates $140 million construction loan for Chess Builders; arranged by Filler of Merid...
July 16, 2019
Bronx, NY S3 Capital Partners has originated a $140 million construction loan for Chess Builders and its new development at 210 East 135th St. The financing will drive the construction of two 25-story towers, consisting of 430 rental units (of which 129 are affordable), 24 hotel rooms, 5,000 commercial s/f and 210 parking spaces.
City Urban Realty refinances 243 Canal Street with $21 million loan from Signature Bank
July 16, 2019
Manhattan, NY Michael Alvandi’s City Urban Realty and Stellar Management have completed a refinance of 243 Canal St. Signature Bank provided a $21 million loan which included a $2.5 million gap mortgage. GCP Capital Group’s Alan Perlmutter negotiated the financing.
Eastdil Secured arranges $240M refinance of ALTA+ in LIC; Kapahi of HKS acts as advisor to Simon Bar...
July 16, 2019
Queens, NY Affiliates of Simon Baron Development Group LLC have closed on a $240 million refinancing of ALTA+, a 467-unit building located at 29-22 Northern Blvd. in Long Island City. The lenders were Société Générale and Deutsche Pfandbriefbank (PBB).
Sabet and Sarraf of Venture Capital broker $11.95 million
July 16, 2019
Manhattan, NY Ryan Sabet and Yoel Sarraf of Venture Capital Properties represented the buyer, in the $11.95 million sale of 223 East 89th St.
BRG completes three Brooklyn sales totaling $5.61 million; Includes $2.75 million by Bestreich, Spro...
July 16, 2019
Brooklyn, NY Bestreich Realty Group (BRG) has arranged three sales totaling $5.61 million. The deals include the following: The $1.76 million sale of 29 Devoe St.in the Williamsburg section. The 5,000 buildable s/f development lot site measures 25 x 100 ft. and is zoned R6B with
The Housing Stability and Tenant Act of 2019 - by Andrew Dansker
July 16, 2019
The Housing Stability and Tenant Protection Act of 2019 which was passed by the NYS legislature on June 11th caused a seismic shift in the NY housing market. While the intention of the sponsors, ostensibly the alleviation of the ills of NY’s chronically under-supplied housing market, and the efficacy of their chosen...
Someck and Myers of Lee NYC sublease 20,800 s/f
July 16, 2019
Manhattan, NY Lee & Associates NYC (Lee NYC) has brokered two leases totaling 20,800 s/f. In the first lease, Dennis Someck, executive managing director/principal, and Justin Myers, senior managing director/principal, of Lee & Associates NYC represented the tenant, Ceros, in a seven-year...
Stewart, Biedron and Bell of Marcus & Millichap complete $9.5 million sale of five-story office buil...
July 16, 2019
Manhattan, NY Marcus & Millichap has completed the sale of a five-story office building located at 32 East 39th St., according to John Krueger, vice president and regional manager of the firm’s Manhattan office. John Stewart, Nicholas Biedron, and Stephen Bell...
Rosewood Realty Group brokers four sales totaling $107.69 million; Includes a $77 million sale of a ...
July 16, 2019
New York, NY Rosewood Realy Group has arranged four sales totaling $107.69 million in the NY metro area. In the first deal, Camber Property Group and Belveron Partners purchased a 400-unit apartment building in the Highbridge section of the Bronx for $77 million, with plans to bring all the units back to affordable housing.
Ariel Property Advisors/Keen-Summit hired for bankruptcy sale of One Bennett Park
July 2, 2019
New York, NY It has been over a decade in the making, but after much litigation and controversy, the highly-anticipated resolution of One Bennett Park in Northern Manhattan’s Hudson Heights has finally arrived. Otherwise known as 29 Overlook Terrace...
ACEC NY honors ACE Mentor of Greater NY with Chairman’s Award; Engineer of the Year is Gozdziewski...
July 2, 2019
New York, NY The American Council of Engineering Companies of NY (ACEC NY) presented the 2019 Chairman’s Award to the ACE Mentor Program of Greater NY. This award was presented at the council's annual meeting and awards luncheon at the Union League Club on June 5th.
Greater N.Y. IREM annual rooftop cocktail party at 230 FIFTH; Event sponsored by Mackel of HD Supply...
July 2, 2019
New York, NY IREM NYC hosted their annual rooftop cocktail party on Wednesday, June 23rd at 230 FIFTH. The event was so popular this year, that it sold out! Though the weather forced them to leave the rooftop views for another day, the crowd had a great time!
3 World Trade Center: Beyond the glass - by Aaron Twersky
July 2, 2019
I was fortunate to be a part of a 20-person building tour of 3WTC, arranged by BOMA NY. Arriving at the WTC Transportation Hub’s Oculus is like entering a new world of urban luxury. The largess is jaw-dropping and equally remarkable is the seamless flow of people.
Con Ed steps up to plate with limited-time offer: Enhanced incentives for C&I qualified buildings - ...
July 2, 2019
Con Ed has stepped up to the plate and is offering, for a limited time period, enhanced incentives (double or triple existing incentives) for buildings that qualify for their C&I program. Buildings in this incentive program include assisted living facilities, hotels, and hospitals, as well as commercial and industrial buildings.
Life insurance liquidity: Critical component of an overall estate/financial plan for real estate ow...
July 2, 2019
Estate tax with an effective rate of taxation approaching 50% in larger estates, causes many real estate families concern. Life insurance is often considered as part of an overall plan to supply liquidity/cash at the inevitable death of an owner. The transfer tax from one generation to another ...
The ecosystem of waste: Together we can open a portal into the circular economy - by Nadine Cino
July 2, 2019
It’s backing up on us…waste that is. China’s decision to ban plastic and e-waste imports has thrown waste and recycling markets into turmoil. “The University of Georgia has estimated that China’s ban on imported recyclables will leave 111 million metric tons of trash...
Defining a Smart Building: The excitement on this market continues to grow - by Nora Swanson
July 2, 2019
The excitement surrounding Smart Buildings continues to grow, but the industry does not currently have a standardized definition of what makes a building “smart” or “intelligent.” At the very least, everyone can agree that a Smart Building should use automated processes to control a facility’s operations.
SWBR names Rebholz and Weber to its board and promotes Wade to associate
July 2, 2019
Rochester, NY According to SWBR, Steven Rebholz, AIA, and Matthew Weber, PE, have been elected to its board of directors and Jessica Wade, AIA, has been promoted to associate. Principal and COO Rebholz was re-elected to the board
CannonDesign promotes Garra and Kondrat to co-directors to firm’s engineering practice across mult...
July 2, 2019
Buffalo, NY CannonDesign has promoted Robert Garra, PE, and Paul Kondrat, PE, to co-directors of the firm’s engineering practice. With engineers spread across multiple offices, Garra and Kondrat will address
Hoskins joins D&B Engineers and Architects, P.C. as senior geologist and manager
July 2, 2019
East Syracuse, NY D&B Engineers and Architects, P.C. (D&B) has welcomed Matthew Hoskins, P.G. as a senior geologist and manager. In this role, he will oversee and manage the firm’s environmental