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Question of the Month: How do you take advantage of infrastructure and land remediation investments ...
May 21, 2019
On April 17, 2019, the IRS released its latest proposed regulations and additional guidance on 1400Z-2 of the IRS Code to clarify questions presented by the regulated community and investors related to tax deferred “Qualified Opportunity Funds” (QOF).
REBNY Report: Brooklyn retail average asking rents cool in winter 2019
May 21, 2019
Brooklyn, NY Average asking rents for available ground floor retail spaces increased year-over-year in five of the 17 Brooklyn corridors analyzed by the Real Estate Board of New York (REBNY) in its bi-annual Brooklyn Retail Report.
New York State agencies celebrate "Green Your Commute Day" by launching summer-long "Green Your Comm...
May 20, 2019
Albany, NY According to the New York State Departments of Environmental Conservation (DEC) and Transportation (DOT) and the New York State Energy Research and Development Authority (NYSERDA), 2,768 state employees celebrated "Green Your Commute Day."
Kapnick and Watson of Lee NYC lease 1,250 s/f
May 21, 2019
Manhattan, NY Mark Kapnick, executive vice president/principal, and Michael Watson, associate director, of Lee & Associates NYC have negotiated a ground-floor, 1,250 s/f lease at 375 Sixth Ave., between Washington and Waverly Places, for Uni K Wax. The tenant was represented by Goldco Realty.
Karas and Block of Winick broker 1,750 s/f to Taco Bell Cantina
May 21, 2019
Manhattan, NY Taco Bell has signed a lease for the company’s latest Cantina location at 230 Varick St. between Downing and Carmine Sts. in the midst of a growing dining destination within the West Village.
Claffey of RFR arranges 7,748 s/f retail lease to Republic Bank; Assisted by Rchman, Gilbert and Haf...
May 21, 2019
Manhattan, NY According to RFR, Republic First Bancorp, Inc. (Republic Bank) signed a 15-year retail lease at 90 Fifth Ave. The lease agreement totals 7,748 s/f, including 3,920 s/f on the ground floor and 3,828 s/f on the lower level of the 140,000 s/f property, which is located at the corner of Fifth Ave. and West 14th St.
Broome Talent Task Force releases progress report
May 21, 2019
Binghamton, NY The Broome Talent Task Force released a report on its progress to address workforce development and talent attraction needs in Broome County. The report highlights the
Forelli of The Feil Org. arranges 9,660 s/f lease to Goldfish Swim School;
Gillman of The Shoppi...
May 21, 2019
Queens, NY Goldfish Swim School will soon enhance the newly renovated Glen Oaks Shopping Center, occupying 9,660 s/f of the 187,650 s/f retail center, according to The Feil Org. the open-air center's owner and manager. This new 10-year lease brings the retail center to 99% leased.
Westchester County IDA approves incentives for $95 million apartment complex by NRP Group and RPW Gr...
May 21, 2019
White Plains, NY The Westchester County Industrial Development Agency (IDA) approved resolutions of intent to provide financial incentives for a $95 million apartment complex to be built on a
Nassau IDA grants economic incentive package to Tonsa Automotive for proposed building purchase
May 21, 2019
Port Washington, NY According to Nassau County executive Laura Curran, the Nassau County Industrial Development Agency (IDA) approved a package of economic incentives for Tonsa Automotive Inc.’s proposed purchase of a
Goldban of Brookfield Properties completes 2,300 s/f lease for Shakespeare & Co.
May 21, 2019
Manhattan, NY According to Brookfield Properties, Shakespeare & Co. will open a new store at Brookfield Place at 230 Vesey St. in Lower Manhattan as part of their ongoing expansion plans. The planned opening date is January 2020.
Hempstead LDC gives preliminary authorization for bond sale – $55 million
May 21, 2019
Garden City, NY The town of Hempstead Local Development Corp. (LDC) has given preliminary authorization for the sale of $55 million in tax-exempt bonds on behalf of Adelphi University.
Henderson of Marx Realty leases 25,000 s/f to Foot Locker in Washington Heights
May 20, 2019
Manhattan, NY According to Marx Realty, a New York-based owner, developer and manager of office, retail and multifamily property across the U.S., Foot Locker has inked a deal to lease 25,000 s/f at 605 W 181st St. in Washington Heights.
Company of the Month: Osei & Nadir Rubie of National Standard Abstract: On the road to $1B, relation...
May 21, 2019
New York, NY In just three years, National Standard Abstract (NSA) has become a formidable competitor in the city’s title insurance industry. The title insurance firm has already completed $750 million in real estate transactions since 2015 and look to continue that growth…
An attorney discusses retail leases: Avoiding renovation payment issues - by Berger
May 21, 2019
One of the biggest challenges in retail is getting a new store open on time, with the design you intended and with no mechanic’s liens. People lease retail space with great enthusiasm for the product they are going to sell, but often are not sufficiently organized to have the store ready...
How the limitation on Excess Business Losses affects real estate professionals - by Sandy Klein
May 21, 2019
The Tax Cuts and Jobs Act added Sec. 461(l) which limits the amount of losses from trades or businesses of non-corporate taxpayers that can be claimed on their tax returns. Taxpayers’ who are “real estate professionals” can no longer deduct excess business losses against other non-business income in the current year without limitation as in the past.
Nassau County grants preliminary approval for proposed tax-exempt bond sale for non-profit ACDS – ...
May 21, 2019
Plainview, NY According to Nassau County executive Laura Curran, the Nassau County Local Economic Assistance Corp. (LEAC) has given preliminary approval to a proposed tax-exempt bond sale for non-profit ACDS Inc.
East Harlem’s real estate to benefit from opening of Proton Center & Development Pipeline - by Mar...
May 21, 2019
East Harlem has experienced a revival in recent years, with an ambitious rezoning plan paving the way for an uptick in development activity. Builders have been breaking ground at a swift pace, but the neighborhood is about to undergo yet another transformation with the opening of a truly unique property:
Espiritu joins Yonkers Industrial Development Agency Board
May 21, 2019
Yonkers, NY Business owner and entrepreneur Roberto Espiritu was sworn in as a member of the Yonkers Industrial Development Agency (IDA) Board at their monthly meeting held on May 7th.
Brookhaven Industrial Development Agency closes on two economic incentive packages
May 21, 2019
Farmingville, NY According to Frederick Braun III, chairman of the Town of Brookhaven Industrial Development Agency (IDA), the agency has closed on two packages of economic development incentives.