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Mandarin Oriental to brand and manage 69 residences at 685 Fifth Avnue
March 5, 2019
Manhattan, NY Mandarin Oriental Hotel Group has agreed to brand and manage 69 residences scheduled for completion in 2021. Mandarin Oriental Residences at 685 Fifth Ave. are being developed in a 1920’s building on the corner of Fifth Ave. and 54th St. The owners and developers of the project are SHVO, BLG Capital and Deutsche Finance America.
TF Cornerstone and MSD to redevelop Grand Hyatt New York
March 5, 2019
Manhattan, NY TF Cornerstone and MSD Partners, L.P. intend to pursue redevelopment of Grand Hyatt New York adjacent to Grand Central Terminal in Midtown in collaboration with an affiliate of Hyatt Hotels Corp. (Hyatt). The new project would replace the existing building and create a 2 million s/f mixed-use development, including office and retail space, improvements to the public transportation infrastructure in the Grand Central Terminal transit complex and a new Grand Hyatt hotel.
Olshan Properties unveils redesign of 99 Hudson Street, TriBeCa; Design Republic reimagined building...
March 5, 2019
Manhattan, NY Olshan Properties unveiled the redesign of TriBeCa’s 99 Hudson St. office space during a pair of brokers’ open house events. Olshan Properties owns a total of twelve full floors within the TriBeCa office building.
Vinbaytel Property Development launches sales at 245 East 53rd Street; Listed by Tirosh & Team
March 5, 2019
Manhattan, NY Developer Vinbaytel Property Development LLC awarded Tirosh & Team at Douglas Elliman the exclusive listing for the condominiums at 245 East 53rd St. Located in Midtown East, the six-story property includes five modern units.
National Grid awards CDCLI $25,000 grant for mixed-use development in support of Peconic Crossing in...
March 5, 2019
Riverhead, NY National Grid awarded a $25,000 grant to Community Development Corp. of Long Island (CDCLI) in support of Peconic Crossing, a 45-unit, mixed-use, affordable housing development that provides a preference for artists and displaced storm victims. The development, a joint project of CDCLI and Conifer Realty, complements the town’s ongoing efforts for revitalization of the downtown area, including obtainable housing and promotion of the arts in walkable neighborhoods connected to the Peconic River.
Stantec honored for best practices in Golisano Children’s Hospital fit-out
March 5, 2019
Rochester, NY Stantec, a leading design and engineering firm, has been honored for outstanding project achievement by the Building Commissioning Association’s (BCA) Northeast Chapter. The team’s collaboration on the fit-out of the 4th and 6th floors of the Golisano Children’s Hospital at the University of Rochester.
Welcome Center at The Club at Briarcliff Manor, holds grand opening event February 16-17
March 5, 2019
Briarcliff Manor, NY The grand opening of the Welcome Center at The Club at Briarcliff Manor, a new senior living community featuring independent living apartments, best-in-class assisted living and award-winning memory care for those 55 and older, was held February 16th and 17th.
Falardeau of KeyBank arranges $29 million financing for 179-unit property
March 5, 2019
Clinton, NY KeyBank Real Estate Capital has arranged financing totaling $41.1 million:
• A $29 million Fannie Mae, first mortgage loan for Lewiston at Pheasant Run, a 179-unit multifamily complex. The property was built in five phases between 2006 and 2018 and is comprised of…
Breslin participates in Q&A at relaunch of Wilbur F. Breslin Center
March 5, 2019
Hempstead, NY On January 24, judge Gail Prudenti, dean of the Maurice A. Deane School of Law led a forum and Q&A session featuring Wilbur Breslin, a real estate developer on Long Island. The event was attended by 100 law students, alumni and members of the real estate community to relaunch the Wilbur F. Breslin Center for Real Estate Studies that has now become part of Hofstra Law.
Milvado leases 9,100 s/f to Master Mechanical
March 5, 2019
Huntington, NY According to Milvado, one of Long Island’s leading owner/managers of industrial property, Master Mechanical Corp., major air conditioning/heating/plumbing contractors, signed a new 9,100 s/f lease at 163 East 2nd St.
Ruiz of JLL reps TRITEC in 3,813 s/f lease at 3 Technology Park
March 5, 2019
East Setauket, NY According to TRITEC Real Estate Co., Inc., St. Charles Rehabilitation has renewed their lease for 3,813 s/f at 3 Technology Dr. located in the Stony Brook Technology Center. St. Charles Rehabilitation represented themselves in the lease negotiations TRITEC was represented in the transaction by Raymond Ruiz of Jones Lang LaSalle (JLL).
BOMA LI holds presentation - February 14th
March 5, 2019
Melville, NY BOMA LI held a presentation on February 14th that focused on utility discounts, 2019 PSEG Rebates, latest LED approved fixtures/lamps and topic requests. The event was held at 68 South Service Rd., RXR Lower Level Team Room.
CIBS Long Island hosts real estate developers panel discussion; Moderated by Caputi of Cresa Long I...
March 5, 2019
Melville, NY A panel of real estate developers, all of whom recently made acquisitions or are launching new projects on Long Island, expressed optimism at a January 30th meeting of the Commercial Industrial Brokers Society of Long Island (CIBS), one of the region’s largest commercial broker organizations.
Commercial Classroom: Commercial commissions - by Edward Smith
March 5, 2019
All commission rates are negotiable. What is fair compensation for our services? When we sell a building, we are generally paid a percentage of the selling price, in other words our fee is based on a percentage of the seller’s financial gain. Due and payable on title passage.
Boyiakis to serve as insurance coordinator at The Engel Burman Group
March 5, 2019
Garden City, NY Andreas Boyiakis has joined The Engel Burman Group (EBG) in the company’s construction division as insurance coordinator.
Hollister Co. to remain open during Storefront remodel at Destiny USA
March 5, 2019
Syracuse, NY Hollister Co., the Southern California-inspired apparel retailer, will upgrade its Destiny USA storefront this spring. The store remodel will focus on updating the entryway and will be completed in two phases…
HUNT names Maxian director of career development
March 5, 2019
Buffalo, NY According to HUNT Real Estate, Jennifer Maxian has been promoted to the position of director of career development.
Maxian has been with HUNT since 2010, most recently as the manager of agent technology. Maxian holds a Master’s Degree in Business and Marketing Education from Buffalo State College.
Batista named associate board member of CIBS Long Island
March 5, 2019
Syosset, NY Greg Batista has been appointed an associate board member of the Commercial Industrial Brokers Society of Long Island (CIBS).
Cline joins Prime Engineering, PC team
March 5, 2019
Holtsville, NY Joseph Cline, PE has joined Prime Engineering, PC. He is a professional engineer with 28 years of experience within the civil engineering, government and consulting fields.