New York City

Doshi and Mehra of Meridian Investment Sales represent
buyer and seller in $15 million sale in Brooklyn Heights

Brooklyn, NY Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, sold 35 Pineapple St., an architecturally distinguished, free market, mixed-use corner elevator building in Brooklyn Heights for $15 million.

Klein, Findlay and Ferrer of HFF arrange $32 million refinance; Placed for Hidrock through Ladder Capital

Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) and Hidrock Properties has closed on the $32 million refinancing for 35 West 36th St., a 12-story, 77,880 s/f office building in the Garment District. HFF placed the three-year, floating-rate loan

Marcus & Millichap brokers two Brooklyn sales totaling $3.48M; Includes a $2.5M sale by Riney and Greenblatt

Brooklyn, NY According to John Horowitz, first vice president - regional manager of the Marcus & Millichap’s Brooklyn office, the firm has arranged two sales totaling $3.48 million. The deals include the following: The $2.5 million sale of 151 Quincy St.

Appel, Schwartz, Diaz and Cotter of JLL Capital Markets secure $66.7 million loan at 141 East Houston Street

Manhattan, NY JLL Capital Markets experts have completed a $66.7 million loan to finance the construction of 141 East Houston St., a class A, 63,000 s/f office building. The group worked on behalf of East End Capital and K Property Group LLC

Preuss of Cushman & Wakefield completes four sales totaling $6.535 million

Queens, NY Cushman & Wakefield has arranged the sale of four properties totaling $6.535 million. A team led by senior managing director Stephen Preuss represented the sellers in all marketing efforts.

Costanzo of Fosun Hive Holdings leases 75,000 s/f to SCOR at 28 Liberty Street

Manhattan, NY According to Fosun Hive Holdings, SCOR, an independent, global reinsurance company, has leased 75,000 s/f on the 53rd and 54th floors of 28 Liberty St., a landmarked office tower. The Paris-based global reinsurance company is relocating its NYC headquarters from 199 Water St. 

Cannold and Bloom of Helmsley Spear arrange 6,824 s/f lease extension for China Ting Fashion Group

Manhattan, NY According to Kent Swig, president of Helmsley Spear, LLC, the firm has brokered a second lease extension for China Ting Fashion Group (USA) LLC in the Garment District totaling 6,824 s/f at 525 Seventh Ave. 

Stacom and Shanahan of CBRE rep SL Green in $381 million sale; 521 Fifth Avenue in agreement to be sold to Savanna

Manhattan, NY A joint venture between SL Green Realty Corp. and an institutional investment partner, entered into an agreement to sell 521 Fifth Ave. to Savanna, a New York City based real estate investment manager, owner/operator, and developer.

EQ Office leases 17,337 s/f to SMCP Brands at 44 Wall Street

Manhattan, NY According to EQ Office, SMCP Brands signed a new 17,337 s/f lease at 44 Wall St., its 24-story modernized office tower in the Financial District. Under the 10-year lease, the company will move its North American...

What does a qualified intermediary do during a 1031 exchange? What to look for when hiring one? - by Michael Packman

To complete a valid and successful 1031 exchange, investors acquiring taxpayer-owned properties need the services of a qualified intermediary (QI), also known as an “exchange facilitator.” During a 1031 exchange, the individual obtaining an investment or business