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Real estate investors continue to devour development sites in Queens, with their sights set on above-average returns. As land in some neighborhoods in NYC look pricey, builders will seek land in regions that are best positioned to appreciate, such as Jamaica, with an expansive rezoning and attractive land values destined to make it a developer’s dream. As the U.S. economy strengthened this year, so did the development market in the “world’s borough.” During the first three quarters, Queens saw 86 development transactions totaling $831.7 million in gross consideration, according to Ariel Property Advisors’ investment research division. Transaction and dollar volume were 30% and 110% higher, respectively, than the same period in 2017. 

New York, NY When James “Jim” Bifulco, managing member of Total Safety Consulting, LLC (TSC), crisscrosses the city, driving through the outer boroughs and Manhattan, he sometimes finds himself reflecting upon how TSC was instrumental in many of the projects that surround him. Yet it’s not the numbers that matter, it’s knowing that TSC ensured that each project was built safely that gives him a sense of fulfillment and pride. Heading a 23-year-old construction safety solutions provider, one of the first and largest in the metro area, carries a responsibility that is rewarding and challenging. 

New York, NY David Zussman has been named CFO of Related Companies. In this role, Zussman will oversee Related’s finance, accounting and treasury groups as well as continue his active engagement in the company’s financial planning and capital markets initiatives. He will join the Related investment committee and the investment committees for several of the funds managed by Related Fund Management.

Brooklyn, NY 1 Brooklyn Bay Condominiums, Muss Development’s newest residential project, in conjunction with Avalon Bay’s 17 floors of market-rate rentals, has ended 2018 with a sales flourish. After six recent closings, only 17 units remain for sale at the market-rate property. 

Yonkers, NY RMS Companies, a Connecticut-based real estate development company, has launched its first development in the city. Stratus on Hudson, a new 74-unit rental high rise is located at 1077 Warburton Ave., close to the Greystone Metro North Train Station and downtown Yonkers and Hastings-on-the-Hudson. The architect was Kenneth Boronson, and the interior designer was Julia Walters, JL Design Associates.

Brooklyn, NY The Stanwix is one of the first apartment buildings in the borough to offer smart home technology in every apartment. Every tenant will receive a free Amazon Alexa when they sign their lease. Nooklyn, the real estate startup that makes finding apartments and roommates easy, will manage leasing at The Stanwix.

Yonkers, NY Martinelli Manor, a 45-unit senior housing complex, is the latest to benefit from renovations as part of a three-year plan by The Municipal Housing Authority and the city to upgrade more than 1,700 units of affordable housing in the city. City, state and MHACY officials and members of the Martinelli family unveiled the newly renovated building with a tribute to the late mayor Angelo Martinelli, who the complex is named after.

Bronx, NY MBD Community Housing Corp., a leading community organization devoted to increasing affordable housing opportunities and improving the quality of life in the borough, has received the New York Housing Conference 2018 Non-Profit of the Year Award. Founded in 1974 as a coalition of volunteers determined to save their community from the devastating impact of arson, disinvestment, abandonment, and population loss in the Crotona Park East section of Bronx Community District 3, MBD has been a catalyst in the revitalization of the community through the development of new and renovated affordable housing and the restoration of vital public services.

Brooklyn, NY Christian Cultural Center (CCC) and Rev. A.R. Bernard formed a partnership with the Gotham Org. to transform CCC’s East New York campus into a sustainable, pedestrian friendly, mixed-income community. The proposed development will supplement the existing church facility with 2,100 new income-based affordable residential units in addition to numerous purpose-built neighborhood amenities thoughtfully envisioned to support civic, spiritual, educational, cultural and economic opportunities.

Manhattan, NY According to L&L Holding Company, Maefield Development and Fortress Investment Group, their 46-story, $2.5 billion Times Square tower is fully capitalized, with construction expected to start in January. UBS led a new round of equity investments totaling $780 million, bringing the total equity in TSX Broadway to more than $1 billion. UBS’s global network of investors provided a majority of this equity, with the remainder coming from existing partners and a series of additional institutional limited partners.

Hicksville, NY ACS System Association has purchased a 30,000 s/f industrial building located at 101 New South Rd. for $5.15 million. Mario Asaro of Industry One Realty Corp. represented the buyer and John LaRuffa of NAI Long Island represented the seller, The Center For Development Disabilities Inc.

Commack, NY According to Hunt Corporate Services, Inc., broker Andy Dorman arranged the $1.15 million sale of a 9,500 s/f suburban office building located at 350 Veterans Hwy. to Maisey Property Management, an entity controlled by Sean Fredrickson, founder, and CEO of Universal Plumbing in Bay Shore. Dorman was the sole broker for this transaction.

Westbury, NY Tommy Tsiolis, principal of Diversified Realty LI, Inc., has brokered a $4.6 million sale and three leases totaling 26,200 s/f. In the first deal, Tsiolis sold 51 Frost St.,Westbury for $4.6 million. The subject is a 21,000 s/f industrial property. The seller was Spiegel Assoc. and the buyer was 51 Frost St Assoc. Tsiolis worked with Spiegel’s in-house agent, Paul Giossi.

Woodmere, NY Pugatch Realty Corp. has merged with Berkshire Hathaway Homeservices Laffey International Realty. Barry and Susan Pugatch of Pugatch Realty Corp. have joined the Laffey International executive team including Emmett Laffey, Gregory Berkowitz and John Schoonmaker as managing partners. They bring with them 30 seasoned agents and a loyal following of clients. “This is great news for home buyers and sellers in The Five Towns,” Barry Pugatch said.

Plainview, NY Christine Schultz, EW Howell’s project assistant, was awarded this quarter’s Build Simply President’s Award. Schultz constantly represents the company in the best light. While working on multiple projects as a project assistant, she always goes above and beyond to help out whenever she can, truly defining the “Build Simply” values.

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 According to Nassau County executive Laura Curran, the Nassau County Industrial Development Agency (IDA) has appointed Danielle Oglesby as the agency’s deputy executive director. Oglesby, of Glen Head, has been chief operating officer at the LIU Global Institute at LIU Post in Brookville, which brings world and national leaders to the campus.

Farmingville, NY According to Frederick Braun III, chairman of the Brookhaven Industrial Development Agency (IDA), Frank Trotta, a publisher, entrepreneur and lifelong resident of Bellport has been appointed to the IDA’s board of directors. Trotta is the owner of two publications, 50 Plus LifeStyles and Fire News. He also is a principal in a family-owned local real estate management company and is vice chairman of Suffolk Federal Credit Union. 

Garden City, NY Janover LLC has promoted Mindy Kamen, CPA, to partner, effective January 1st. Kamen joined Janover right out of college and has risen through the ranks, from staff accountant to principal, to now being the youngest partner at the firm. This promotion has been earned through her work, commitment to excellence, performance, and an understanding that client relations are deep and beyond calculation.

East Meadow, NY Two of Certilman Balin Adler & Hyman, LLP’s attorneys, Heather Gauweiler and Michelle Stieglitz, have been elevated to partners at the firm. Gauweiler, a partner in the banking/commercial lending group, was previously an associate. Her practice concentrates on the representation of institutional and private lenders in all aspects of complex commercial real estate transactions and asset-based lending.