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Yonkers IDA approves incentives for four projects
April 2, 2019
Yonkers, NY The board of directors of the Yonkers Industrial Development Agency (IDA) have approved resolutions of intent to provide financial incentives for four residential projects. The developments, which represent a total private investment of $108.3 million
Falcon Pacific Builders tops out Saab Family’s Astoria development; Architect is Markowitz
April 2, 2019
Queens, NY According to Carl Schwartz, CEO of Falcon Pacific Builders, LLC, the company has topped out the construction of a 50-unit rental and retail building located at 28-16 21st St. in the Astoria neighborhood. “We are thrilled to have...
U.S. Immigration Fund tops out 125 Greenwich; Developed by Bizzi & Partners and Vector Group and des...
April 2, 2019
Manhattan, NY In the Financial district, 125 Greenwich, a new skyline addition is swiftly rising, according to U.S. Immigration Fund. Another milestone has been reached, as 125 Greenwich topped out at 88 stories and 912 ft. The topping off ceremony was hosted by Bizzi & Partners and Douglas Elliman.
The Agency issues REI for redevelopment of former BAE site in Union
April 2, 2019
Union, NY The Agency has issued a call to the development community to partner on the redevelopment of the former BAE site at 600 Main St.
1031 exchange replacement property alternatives for investors - by Pamela Michaels
April 2, 2019
Investors in the Northeast are confronted with a number of obstacles when attempting to close on replacement property in an IRC Section 1031 exchange. Foremost amongst them may be the shortage of attractive inventory and the high price of available replacement properties.
Innovative Solutions relocates to Riverwood Tech Campus–19,000 s/f
April 2, 2019
Henrietta, NY According to Governor Andrew Cuomo, Innovative Solutions has officially marked the company’s move to its new location. The software development company has relocated to a 19,000 s/f facility on East River Rd.
Construction Law: An attorney discusses dealing with leaks - by C. Jaye Berger
April 2, 2019
Dealing with leaks and how to determine responsibility for it can be a major headache. The best thing anyone can do is to be certain they have insurance coverage in place. Anyone renting out their condominium unit or co-op apartment should have their own insurance, as well as…
Island Associates negotiates six leases on Long Island totaling over 11,343 s/f
April 2, 2019
Brentwood, NY Island Associates (IA) completed six leases including:
Terence McMahon of IA handled a 2,320 s/f lease at 1825 Brentwood Rd. The lease is for a base term of 10 years with aggregate rent of over $730,000.
Cronheim Mortgage arranges $5 million for 52,000 s/f office building in Manhattan
April 2, 2019
Manhattan, NY Cronheim Mortgage secured $5 million in financing for 32 East 31st St. The 20-year loan amortizes over a 30-year schedule for the borrower, 32 East 31st Street Corp. Cronheim acted as corresponding agent and servicer for CMFG Life Insurance Co.
CBRE|Syracuse completes two sales, leases 61,077 s/f
April 2, 2019
Syracuse, NY CBRE|Syracuse completed the following: Ed Kiesa, CCIM, partnered with Ten-X to sell Clay Commons, 8075 Oswego Rd., Liverpool, via live bid. Ten-X received multiple offers on the 60,000 s/f retail plaza and was sold for $4.2 million cash with no contingencies to investors Joseph & Rita Armideo, of Homer.
Metropolitan Realty Associates and Gordon & Co., secure $23 million from Amherst Capital for redevel...
April 2, 2020
Nanuet, NY Metropolitan Realty Associates LLC (MRA) and equity partner Angelo Gordon & Co. LP have secured a $23 million acquisition and construction loan for the repositioning of a former Macy’s department store located at the Shops at Nanuet, a Simon Property Group-operated outdoor shopping center in Hudson Valley.
SIGNA Group and RFR Holding JV to acquire Chrysler Building from Abu Dhabi Inv. Council and Tishman ...
April 2, 2019
Manhattan, NY SIGNA Group, one of Europe’s leading privately-owned investment companies, and real estate developer RFR Holding have agreed to acquire the Chrysler Building. SIGNA and RFR entered into a joint venture to acquire the asset…
New York Building Congress releases 10-Point Funding Plan to fix nation’s infrastructure
April 2, 2019
New York, NY The New York Building Congress today released a 10-point funding plan to fix our nation’s crumbling infrastructure. The plan incorporates 10 bold ideas to significantly invest in our nation’s roads, transit, bridges, tunnels, railways, airports, waterways, and energy infrastructure.
Compound expands data-driven real estate strategy with New York City’s most accurate Automated Val...
April 2, 2019
New York, NY Compound Asset Management (Compound), a New York City-based real estate asset management company, will integrate New York City’s most accurate automated valuation model, also known as AVM, as part of the firm’s data aggregation platform for urban residential real estate investment.
Moskowitz of Stroock & Stroock & Lavan moderates NYC Charter Review Critical to Future of City
March 29, 2019
New York, NY A panel of New York’s leading real estate thinkers discussed the current New York City Charter review, which could turn out to be the most momentous change in city real estate decision-making since 1989.
Burton, Conrad, Carrozzo, Garfinkel and Farua of Cushman & Wakefield named exclusive agents of Midto...
March 19, 2019
Manhattan, NY Cushman & Wakefield has been retained on an exclusive basis to market for sale 340 East 58th St, a 24,847 s/f residential building in Midtown East. Ownership is currently seeking investors for this opportunity.
NYCEDC leadership speaks at WX New York Women Executives in Real Estate’s monthly breakfast
March 28, 2019
New York, NY On Tuesday, March 12th, leadership from the New York City Economic Development Corporation (NYCEDC) spoke at the WX New York Women Executives in Real Estate’s monthly breakfast, highlighting the city’s strategy to bring good-paying jobs to city residents through inclusive innovation.
Avison Young New York and Akerman LLP host “Why Amazon Should Stay” event on March 21st
March 28, 2019
New York, NY On March 21, Avison Young New York and Akerman LLP hosted a panel at the Harvard Club in Manhattan on real estate incentives and how they are often misconstrued by the public. This was particularly true in the case of Amazon looking to build its new headquarters in Long Island City, according to panelists from across the real estate industry.