New York City

Communitas America and HGI America unveil Heyground

Bronx, NY Communitas America, a social impact organization supporting changemakers that address the systemic impediments and lack of access to economic opportunities in under-resourced communities, has unveiled Heyground, a new social innovation accelerator located at The Hub in the South Bronx, set to open in 2021. Developed by HGI America, Inc.,

ABS Partners R.E. arranges 32,078 s/f

Bronx, NY ABS Partners Real Estate has arranged leases with tenants, SOMOS Community Care, C.A.C. Industries and Lifestance Health at 5500 Broadway also known as Broadway Crossing. The building was represented by

Howard Hughes Corp. unveils plan for affordable housing at 250 Water St., revived Seaport Museum

Manhattan, NY The Howard Hughes Corp., (HHC) unveiled a comprehensive proposal for Lower Manhattan’s Seaport area, including the transformation of an underutilized full-block surface parking lot into a mixed-income

Construction begins for Rockaways - Atlantic Shorefront project

Queens, NY On the 8th anniversary of Hurricane Sandy, governor Andrew Cuomo, mayor Bill de Blasio and U.S. Army Corps of Engineers colonel Matthew Luzzatto celebrated the start of construction on the

CubeSmart to acquire $540m self-storage portfolio

New York, NY According to CubeSmart, it has entered into an agreement to acquire a portfolio of eight self-storage properties in the city from Storage Deluxe for $540 million. The portfolio, currently professionally managed

Cronheim arranges $2.75 million permanent financing

Manhattan, NY Cronheim Mortgage arranged $2.75 million in permanent financing for the subject, a four-story, walk-up retail and apartment building located in Midtown East. The interest rate was locked six months prior to

Yuen of Greystone originates $6.5m Fannie Mae DUS loan for Queens refi

Queens, NY Greystone, a leading national commercial real estate finance company, has provided a $6.5 million Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a multifamily property

Rockport Mortgage and LIHC Investment Group facilitate $140m financing

West New York, NJ Rockport Mortgage Corp. and LIHC Investment Group closed a $140 million FHA Section 223(f) refinancing loan for Parkview Towers, a 688-unit property. The development consists of

Can a Section 1031 exchange be performed with the acquisition of an underwater property? - by Sandy Klein

When a taxpayer is faced with a pending foreclosure or a deed-in-lieu sale on investment or trade or business property, the taxpayer may be faced with a potential taxable gain when the property is “underwater.” A property is

A lawyer discusses settling mechanic’s liens, and problems that may arise - by C. Jayne Berger

Many business people are in a panic these days about money and getting paid. The economic supply line is temporarily broken due to the pandemic and everything is getting backed up in the system. If a building owner is