Search

Manhattan, NY According to Friedman Roth Realty Services, they have completed the sale of an East Village mixed-use building located at 24 Ave. A. This is the first sale of the building in 30 years. The sale price was $15.8 million.     The six-story corner property, with an aka address of 150 East 2nd St., features 20 apartments, five retail stores and a rooftop antenna.

Albany, NY Governor Andrew Cuomo has launched the $30 million “Buildings of Excellence” Competition to advance the design, construction and operation of low- or zero-carbon emitting buildings that also provide comfortable, healthy and affordable living and working spaces.

Commercial real estate is discovering podcasting for building brands, adding to contacts, and teaching and learning about sectors and markets. Traditional broadcasting holds fewer opportunities unless you have a mega transaction, or are expert on a major trend. While requiring commitment and some know-how, podcasting has opportunities for executives to produce and participate in their own shows, interview guests and provide information and views on a variety of subjects.

Brooklyn, NY GFI Realty Services, LLC has completed the following sales:  • The $10.4 million sale of 2031 and 2233 Ocean Ave. • The $8-million sale of 1865 77th St.

Pleasant Valley, NY Marcus & Millichap has completed the sale of the Hudson Valley Business Center, and office complex located at 199 West Rd., according to John Krueger, regional manager of the firm’s Manhattan and Westchester offices. The asset sold for $5 million.

Bronx, NY Michael Ferrara, managing principal of Brax Realty and Daniel Thompson, managing director of Savills Studley exclusively represented the landlord, M & R Friedlander Supply Co., and procured the lessee, 550 Trinity LLC, in a 99-year ground lease valued at $108 million.  The subject properties are located at 550 Trinity Ave. and 571 Jackson Ave. in the Mott Haven neighborhood. 

Bronxville, NY James Houlihan, a longtime resident of Bronxville and Palm Beach, Fla., passed away on March 2nd, 2019 at the age of 95. He was born in Manhattan in 1923, was the only child of James A. Houlihan and Genevieve McConnell Houlihan. The wake was held on Thursday, March 7

Brooklyn, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, is exclusively marketing for sale a retail and commercial property ideal for development in the Greenpoint neighborhood for $11 million.

Manhattan, NY Avison Young closed a 3,463 s/f, long-term retail lease at 815 Second Ave. in Midtown East. The lease comprises 1,807 s/f on the ground floor and 1,656 s/f on the mezzanine for Midtown Hardware, a retailer-owned hardware store member of the True Value cooperative, which extends to over 4,400 retail locations across the United States.

New York, NY According to Adelaide Polsinelli and Ronda Rogovin, both vice chairs of Compass, a technology-driven real estate platform, announce the continued expansion of the investment sales division with new hire, Michael Cardillo. As part of its continued growth and expansion, Cardillo joins George Moss, Karen Dome, Michael Caiola, Mitchell Goldstick and Trystan Polsinelli, along with Robin Abrams and her team…

Great Neck, NY Cushman & Wakefield has arranged the sale of two properties totaling $2.24 million located on Long Island. 733 Middle Neck Rd. sold for a final closing price of $1.24 million. 481 Meacham Ave. in Elmont sold for $1 million. A team led by senior managing director Stephen Preuss and associate director Kevin Schmitz represented the sellers in all marketing efforts.

Melville, NY Charles Cotsalas, senior vice president of NorthMarq’s Long Island regional office, arranged a cash-out refinance of $3.75 million for a 71,000 s/f industrial building. The non-recourse, entity only transaction, locked at 4.33%, was structured with a 10-year fixed-rate loan on a 25-year amortization schedule. NorthMarq arranged financing for the borrower, 100 Marcus Drive Associates through its correspondent relationship with 40 | 86 Mortgage Capital, Inc., a life insurance company.

Plainview, NY Metropolis Property Group LLC has closed on the Plainview Residence Inn by Marriott located at 9 Gerhard Rd. James Johnston of Metropolis represented the seller, Greenbriar Associates LLC, in the sale of the 4.24-acre property that currently consists of a 150,000 s/f, 170 key extended stay Residence Inn hotel. 

New York, NY The BOMA New York office in midtown hosted another sold out Lunch & Learn – focused on Local Law 88 of 2009 (LL88), AKA the Greener, Greater Building Plan. Deborah Deluca, vice president of electronic drives and controls, and chairperson of the Lunch & Learn program welcomed the packed room and introduced Christopher Cayten, LEED AP, M.Arch, principal of CodeGreen.

New York, NY Matt Duthie of NKF received the Institute of Real Estate Mangament (IREM) Great New York chapter’s Real Estate Person of the Year award on February 7th at the organization’s annual dinner at 230 FIFTH. Gail Duke, Duthie’s friend and colleague, presented the award. In his speech, Duthie extolled the virtues of IREM’s education and designation program saying, “It’s the most important investment you can make in yourself.”

New York, NY In 2012, New York State passed legislation allowing the creation of a new corporate form called the Design Professional Corporation (DPC). In a DPC, engineers, architects, land surveyors, landscape architects and geologists may join together to form a company to practice these professional disciplines. This legislation also states that if a firm’s Employee Stock Ownership Plan (ESOP) qualifies under certain criteria (greater than 75% of the ESOP’s trustees and plan committee members are licensed design professionals), that ESOP can be the largest shareholder and own up to 24.9% of the firm. This has proven to be a successful business model, and many firms have taken advantage of the flexibility it provides and the ESOP ownership provisions. 

New York, NY Earlier this month, Professional Women in Construction (PWC) presented their first Life Sciences Forum on February 5-th at the Allsteel Showroom. The event was a success and sparked interesting discussions. The New York region has seen significant investment in the life sciences area, leading to more and more facilities being developed and built to advance healthcare, medical education, and technology. The event included a keynote and panel discussion on the growth in the life sciences sector and building life sciences facilities. 

Manhattan, NY Rising 35 stories, Moxy NYC Chelsea, the micro-room, macro-amenity hotel, developed by Lightstone and part of Marriott International’s Moxy Hotels brand, officially opened its door. Inspired by the surrounding Flower District, the hotel blends a botanically-influenced design with Italian romance and a playful wit. Moxy Chelsea is located at 105 West  28th St. (at 6th Ave.) 

Glen Cove, NY The $1 billion renaissance of the city’s 60-acre waterfront marked a new milestone with the topping-out of The Beacon at Garvies Point, a 167-unit, LEED-certified condo complex. The Beacon at Garvies Point, as well as the overall Garvies Point site, is being developed by RXR Realty in cooperation with the city. City officials and RXR executives were joined by representatives from Hunter Roberts, the site’s construction manager, to celebrate this construction milestone. The architect was Handel Architects.