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Gilmartin, CEO of L&L MAG, speaks at Fordham RE Institute event–Diversity, mentors
January 8, 2019
New York, NY On Thursday, November 29, some of real estate’s biggest names and rising stars came together for a night of cocktails and conversation when Fordham Real Estate Institute (REI) and MaryAnne Gilmartin, co-founder and CEO of L&L MAG, presented CEO + One.
YM/WREA hosts December lunch, names 2019 Board, chairman and honors Bernstein and Kleger
January 8, 2019
New York, NY On Tuesday, December 11th, YMWREA hosted their final luncheon of the year. The winners of the Young Professional of the Year and the Senior Professional of the Year awards were also honored. Alex Bernstein of Bernstein Real Estate recieved Young Professional Award, and Stan Kleger of Natlane Equities was honored with the Senior Professional Award.Additionally, the new Board of Governors and the newly elected chairman for 2019 were named.
Message from CEO of BMNAR: Gault keeps his father’s memory alive - by Eliezer Rodriguez
January 8, 2019
A year ago, I wrote about the passing of Mr. Perry Gault four days before our Annual Holiday Party and Toy Drive. Mr. Gault served as president of Bronx Manhattan North Association Realtors (BMNAR) in 1995. He also led our Realtors Political Action Committee (RPAC) drive and was in charge of…
Platt of Arbor originates $3 million Freddie Mac loan
January 8, 2019
Brooklyn, NY Arbor Realty Trust, Inc. funded a $3 million Freddie Mac SBL deal for 352 Weirfield St., a six-unit multifamily property. The deal comes with a five-year hybrid term and a 30-year amortization schedule.
Geoffrey Platt of Arbor originated the loan.
Isak of Goldenwood Property Advisors exclusively sells 14,000 s/f in Rego Park
January 8, 2019
Rego Park, NY Rubin Isak, founding partner of Goldenwood Property Advisors, has exclusively sold 63-68 Austin St., aka 9132-9148 63rd Dr. in an all-cash transaction valued at $6.55 million. The sellers are Alderton Associates, LLC and the purchasers are 63-38 Austin LLC and RW Austin LLC. Isak was the sole broker in the transaction.
Cronheim Mortgage arranges $5 million refinance for Long Island Synagogue
January 8, 2019
Old Westbury, NY Cronheim Mortgage arranged financing totaling $5 million for the Old Westbury Hebrew Congregation synagogue. OWHC is a Conservative Jewish Synagogue located in Nassau County, Long Island.
Guarino and Smith of Friedman-Roth Realty collaborate in $8.3 million sale
January 8, 2019
Manhattan, NY Friedman-Roth Realty Services completed the sale of 133 Ave. D in the East Village neighborhood. The deal closed at a sale price of $8.3 million (or $450 per s/f) with a GRM of 13.9 and a CAP rate of 4.37%. This property was exclusively listed by Richard Guarino, a partner at Friedman-Roth, on behalf of the seller, Vintage Properties.
The Wizard of OZ – (that’s “Opportunity Zones”) - by Dan Flanigan
January 8, 2019
In Part 1, published in NYREJ on December 18th, I discussed certain important questions with respect to the Opportunity Zone (OZ) program that were answered, and answered quite favorably to taxpayers, by the U.S. Treasury in regulations and a ruling issued on October 19, 2018 (proposed regulations). In this Part 2, I discuss two more areas of initial uncertainty that the Treasury resolved in a favorable way for taxpayers but, even more importantly, in a way that also made it much more likely that the OZ program may actually achieve the policy goals behind it.
Brummer of Goodwin leads legal counsel for Rockwood Capital in $161 million loan
January 8, 2019
Manhattan, NY According to Rockwood Capital, they have entered into a joint venture with Midtown Equities, as borrower in its financing of One Broadway. The $161 million loan will be used for acquisition and repositioning of the landmarked Financial District office building.
NKF orchestrates $282 million sale of 114 West 41st St. to Clarion Partners
January 8, 2019
Manhattan, NY Newmark Knight Frank (NKF) has completed the $282 million sale of 114 West 41st St. (114W41) in Midtown’s Bryant Park submarket to Clarion Partners. On behalf of Blackstone and EQ Office, president James Kuhn, vice chairman Edward Maher, senior managing director David Colen and managing director James Tribble
Multifamily: How New York apartment communities handle package deliveries - by Rick Haughey
January 8, 2019
Year after year, the number of purchases and amount of money spent online continues to soar. In fact, Cyber Monday 2018 surpassed projections and was the biggest online shopping day in U.S. history, according to Adobe Analytics.
So what does this mean for apartment communities?
