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New York, NY Helmsley Spear, LLC is collaborating with Hercules SEZC, a blockchain-based supply chain software company, in the initial phase of documenting rent rolls for Helmsley Spear’s commercial leases and providing confidentiality and indisputable historical building documentation for two of its properties in Lower Manhattan. The collaboration has the potential to transform rent roll processes through blockchain technology open approach to database management. This technology will improve security, privacy, interoperability and smart contract flow framework with an indisputable digital audit trail. Helmsley Spear president Kent Swig said, “Changing real estate trends, intense competition and increasingly complex financial considerations require an understanding of investment and management risk and rewards.” 

Manhattan, NY The Armani Group and SL Green have launched plans to redevelop the Giorgio Armani boutique at 760 Madison Ave. The fully reimagined 97,000 s/f building will be home to a new flagship Giorgio Armani retail boutique and 19 residences designed by Giorgio Armani. Giorgio Armani will conceive the residential interiors and the designer intends to take up residence within the building upon its completion. New York architecture firm COOKFOX will serve as architect on the project and redesign the new building to reflect the evolution of the Armani brand which has become a perfect complement to the Upper East Side.

Manhattan, NY According to United Management and Reuveni Real Estate, Dahlia, a 20-story residential building on the Upper West Side, has officially “topped off” construction. A catered recognition ceremony, held at the building located at 212 West 95th St. between Broadway and Amsterdam Ave., attracted guests who toured the construction site, viewed project renderings and signed the last beam that was then hoisted and placed at the top of the building. The project is being developed by United Management in conjuction with Certes Partners. CetraRuddy is the design architect and interior designer, RKTB is the architect of record and JRM is the construction manager of the project.

New York, NY Hello Living LLC, a full-service real estate development firm based in Brooklyn, has launched and established Hello Living’s investment platform, “Hello Vision.” The Hello Vision investment platform will provide financing for ground-up and renovation development projects, currently located in NYC, and will strategically invest in several real estate asset types, including multifamily, mixed-use, medical and office.

Manhattan, NY Oxford Properties Group, the global real estate arm of OMERS, has reopened the interior public plaza at Olympic Tower — a new, architecturally distinct retreat in East Midtown. Located at 645 Fifth Ave., Olympic Tower is a office and retail destination. In addition to the renovated public space, the $30 million redevelopment of Olympic Tower brings a modern private lobby and new amenities for the building’s customers. The fully-occupied tower is home to the headquarters offices of the National Basketball Association as well as MSD Capital and Richemont North America.

Sayville, NY Brian Campbell has purchased an 829 s/f, free-standing retail building at 32 Foster Ave. for $260,000. The new owner is still in discussion with architect, John Bracco, regarding plans for the property. Talks of quick serve, professional office, or a hair salon is at the top of the list. Carmine LiBretti of Industry One Realty Corp. represented the buyer as well as the seller, 5 Ch’s Properties LLC.

Cold Spring Harbor, NY American Investment Properties has brokered the $1.675 million sale of 117 Main St. The 6,000 s/f property contains office and retail space. Ron Koenigsberg, CCIM, president, of AIP represented the seller and Lyle Alper, associate of AIP, represented the buyer. 

Brentwood, NY Ralph Perna, executive managing director at Newmark Knight Frank, has brokered one $4.4 million sale and five leases totaling 165,400 s/f. The deals include the following: • The $4.4 million sale of 75 Emjay Blvd., Brentwood. The 43,000 s/f building sold to Universal Door from Brooklyn. The seller was Michbi Door.  Perna represented both sides.

Mineola, NY Charissa Kwan, MAI, AI-GRS, has been elected president of the Long Island chapter of the Appraisal Institute for 2019. Serving Nassau and Suffolk counties of Long Island, the chapter assists local real estate appraisers to earn Appraisal Institute professional membership designations and provides appraisal education and networking to the real estate and related industries.

New York, NY The Long Island Real Estate Group (LIREG), of which Richard Herzbach is co-president, recently arranged a special tour of the MTA East Side Access Project. East Side Access provides new LIRR service to the east side of Manhattan, supplementing existing service to Penn Station on Manhattan’s west side and Atlantic Terminal in Brooklyn. The East Side Access megaproject is one of the largest transportation infrastructure projects currently underway in the U.S. with a history that reaches back to the 1950’s when discussions were first held regarding regional transportation planning. The project encompasses work in multiple locations in Manhattan, Queens and the Bronx and includes eight miles of tunneling.

This column is offered to help educate agents new to commercial and investment brokerage and serve as a review of basics for existing practitioners.  A part of the tax bill that became law at the end of 2017 was the “Investing in Opportunity Act,” which established the Opportunity Zone program. The idea was to create incentives to revitalize economically distressed communities using private funding not taxpayer dollars.

Uniondale, NY Gabriella Botticelli has joined the law firm of Forchelli Deegan Terrana LLP as an associate in the tax certiorari practice group. She concentrates her practice in the specialty area of property tax refund and reduction, commonly known as tax certiorari. Botticelli has experience with properties throughout NYS, specifically the Suffolk, Nassau, and Westchester counties.

Cold Spring Harbor, NY According to Deirdre O’Connell, CEO of Daniel Gale Sotheby’s International Realty, the firm has named Deborah Hauser as its COO. Longtime COO Tom Calabrese will be assuming a senior executive advisor role. “Since Deborah Hauser took her first sales management post in 2012, she’s been a galvanizing force in the tremendous growth of Daniel Gale Sotheby’s International Realty,” said O’Connell. “Her deep understanding of the organization and the industry at large stems from her early success as a top producing real estate advisor whose expertise has continued to develop through a succession of management positions.” 

Bohemia, NY P.W. Grosser Consulting, Inc. (PWGC) has hired William Henfling, as a staff engineer. He will assist PWGC’s engineering division. He will be based at PWGC’s newly expanded Bohemia base of operations where he will enhance the development of PWGC’s engineering efforts related to civil/site and water resources. “I am extremely excited to join PWGC,” said Henfling. “I look forward to making a positive contribution to the team and learning from the experienced staff. I am prepared to face the new challenges that come with the variety of environmental services PWGC provides.”  

Garden City, NY Janover LLC has promoted two senior managers, Mary Beth Vetter, CPA and Tammy Daitch, CPA to principals, effective January 1st. Vette began her career at KPMG in the audit practice. She then joined Schoenfeld, Mendelsohn, Goldfarb (SMG) in Woodbury, where she worked for 20 years. In 2013, she joined Janover when SMG merged with Janover. She received her BS in Accounting from St. John’s University. She is a member of the American Institute of CPAs and the New York State Society of CPAs.

Melville, NY Bullard Law Group (BLG) has welcomed Jeanine Segall as the firm’s marketing and operations director and Matthew Baldassano as an associate attorney.  Prior to BLG, Segall was the COO of Perception Media Group, an integrated marketing company that offered cross-media marketing. She is a veteran of both the legal and marketing profession. As marketing and operations director, she will be serving as the brand visionary and assuming the responsibility of their growth strategy. 

Mineola, NY If you think a regional bank can’t attract millennials and other tech-savvy people to its workforce, think again. Hanover Community Bank’s workforce has grown by 75% percent in the year since it reinvented its headquarters with a new workplace concept. The bank’s headquarters design embodies president and CEO Michael Puorro’s vision of the company as “a different kind of bank.” That difference is obvious in JRS Architect, P.C.’s top-to-bottom design. It integrates technology throughout the workspace to promote collaboration both within and beyond the building’s walls. The re-do includes amenities – such as a fitness center, multiple common areas, and multi-purpose video equipment throughout the workplace – typical of a forward-thinking corporate headquarters. The open-plan design and inviting, airy feel represent a cultural shift in an industry known for its traditional, somber workspaces.

In this quarterly series, we examine Long Island towns exploring facts and demographics, real estate happenings, and recent or new changes. Located in the town of Babylon, Babylon Village in Suffolk County, New York is a 2.8 square mile area, which is home to over 12,500 people and 4,700 households, as of the 2010 census. While the median age is 43, the village’s population is spread out with 5.3% under the age of five, 22.5% under the age of 18, 5.2% from 20-24, 25.7% from 25-44, 31.6% from 45-64, and 12.1% who were 65 years or older. The median family income in Babylon Village is $127,407 with a median property value of $440,400.  The home-ownership rate was 78.2% and 15.3% of housing units were in multi-unit structures. 

Batavia, NY Lori Tirado, managing director of Largo Hospitality Finance Group, secured $17.4 million in hotel financing for six hotels in four states.