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MBAofNY hosted its Annual Winter Networking Event and Whiskey Tasting February 7th
March 19, 2019
Manhattan, NY On February 7th, the MBAofNY hosted its Annual Winter Networking Event and Whiskey Tasting with premier event sponsor Loeb & Loeb LLP.
On the 30th floor of the Graybar Building, with views of the Chrysler Building and city lights, real estate professionals came together to exchange ideas, build creative solutions for clients, and enjoy spirits from Widow Jane Distillery.
Meatpacking Business Improvement District appoints LeFrancois new executive director
March 19, 2019
Manhattan, NY According to the Meatpacking Business Improvement District (BID), it has appointed longtime BID leader Jeffrey LeFrancois as its new executive director.
LeFrancois was unanimously approved to replace Lauren Danziger on the BID’s board of directors…
The Agency | Broome County IDA/LDC holds “Opportunity Zones Primer” Jan. 22nd
March 19, 2019
Binghamton, NY The Agency| Broome County IDA/LDC provided a first glimpse of Broome County, NY’s six Opportunity Zones during a presentation on January 22nd, 2019.
An “OZ Primer” was provided by Harris Beach, PLLC and Insero & Co. CPAs, LLP. Over 100 developers, community members and investors attended the event.
Difference between market value and assessed value? - by David Wilkes
March 19, 2019
The determination of one of the largest annual costs of New York real estate ownership, the property tax, is often poorly understood by even the most sophisticated real estate professionals. The result is that many property owners inadvertently pass on opportunities to reduce their operating expenses.
Famularo and Bisconti of Meridian Retail Leasing arrange 2,000 s/f long-term lease for Irish pub, St...
March 15, 2019
Manhattan, NY Meridian Retail Leasing, the retail leasing division of Meridian Capital Group, has arranged a long-term lease for St. Dymphna’s at 117 Avenue A in the East Village neighborhood. President of Meridian's New York Retail Leasing, James Famularo, and director, Kevin Bisconti…
Upstate CCIM to offer Foundations for Success course Apr. 15-16 – 14 hours CE
March 19, 2019
Albany, NY The Upstate New York Chapter of CCIM will be presenting the Foundations for Success in Commercial Real Estate, an introduction to commercial and investment real estate.
Using LLCs for succession planning - by Thomas Kearns
March 19, 2019
The banks that give commercial mortgages and the institutions that invest equity into commercial real estate transactions always impose controls over the identity of the individuals who manage the borrower/joint venture. The controls include restrictions on transfers of controlling economic interests and on which individuals can exercise the management rights of the developer in the deal.
Westchester County IDA approves financial incentives to transform vacant building
March 19, 2019
Harrison, NY The Westchester County Industrial Development Agency (IDA) has approved a resolution of intent to provide financial incentives for a $61 million development project to transform a vacant corporate office building into a medical facility.
Simone Healthcare Development, an affiliate of Simone Development Cos., plans to renovate a four-story office building…
Helmsley Spear and Imperial Capital broker $10.25 million sale of a 5,000 s/f TD Ameritrade in Scars...
March 19, 2019
Scarsdale, NY According to Helmsley Spear, LLC and Imperial Capital Co., they have collaborated in the sale of a single-tenant net lease bank building. The subject is occupied by TD Ameritrade, and located at 880 Central Park Ave. The property is a two-story structure comprising 5,000 s/f. The sale price was $10.25 million.
Cohen of Besen sells 3,760 s/f Bronx mixed-use property for $1.034 million
March 19, 2019
Bronx, NY Besen & Associates completed the sale of 2507-2513 East Tremont Ave., located between Hone Ave. and Lurting Ave. in the Westchester Sq. neighborhood. This property sold for $1.034 million which translates to $275 per s/f. Ron Cohen of Besen exclusively represented the seller and procured the purchaser.
Bestreich, Sproviero, Flaherty, and Lecky of Bestreich Realty Group facilitate $15.5 million sale
March 19, 2019
Brooklyn, NY Bestreich Realty Group (BRG) has completed the sale of 331 Keap St. in the Williamsburg neighborhood for $15.5 million.
This 36-unit multifamily unit is 21,740 s/f priced at $713 per s/f. The sellers were Terrence Lowenberg and Todd Cohen and the buyer was Soonbin Kim from West 8th Street Associates. The brokers who facilitated this transaction was Derek Bestreich, Luke Sproviero, Donal Flaherty, and Hakeem Lecky.
Doshi, and Mehra of Meridian Investment Sales broker $8.6 million sale; Schmuckler of Meridian assis...
March 19, 2019
Bronx, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, sold 215 East 197th St., a multifamily property in the Bedford Park neighborhood for $8.6 million.
Juniper Capital Group arranges four loans totaling $26.8 million
March 19, 2019
New York, NY Juniper Capital Group arranged four loans totaling $26.8 million across four states.
Classic American, a 150-unit rental garden apartment style multifamily complex in Syracuse, New York received a $6 million cash-out refinance 10-year loan that features a two-year interest-only period.
Niblock and Smith of Friedman Roth collaborate for $15.8 million sale of East Village mixed-use buil...
March 19, 2019
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.
NYSERDA and Gov. Cuomo celebrate launch of Buildings of Excellence competition
March 19, 2019
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.
Public Relations: Podcasts gain traction in commercial real estate marketing - by Harry Zlokower
March 19, 2019
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.
GFI Realty completes two Brooklyn sales totaling $18.4 million
March 19, 2019
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.
Pealer of Marcus & Millichap sells Hudson Valley Business Center for $5 million
March 19, 2019
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.
Ferrara of Brax Realty and Thompson of Savills Studley arrange 99-year ground lease valued at $108 m...
March 19, 2019
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.