If you have just had the closing on a new co-op apartment and are planning to renovate, there are many things you will need to take care of before any actual work begins. A lot of this depends on the extent to which you are planning to renovate.
The 2017 tax reform legislation, known as the Tax Cuts and Jobs Act, includes a new deduction for qualified business income (QBI) from sole proprietorships and passthrough entities such as LLCs, partnerships and S Corporation. Sec. 199AManhattan, NY
ABS Partners Real Estate, East End Capital and AEW have closed on a new 99-year ground lease at 136 East 57th
St., located in the Plaza District, according to Gregg Schenker and Steven Hornstock, of ABS Partners Real Estate, and Jonathon Yormak of East End Capital.Brooklyn, NY
Charles Cotsalas, senior VP/senior director of NorthMarq’s LI office arranged the $4 million cash-out refinance through a local bank of 66 Nassau Ave., a 8,799 s/f retail/residential property. The deal was structured as a 10-year fixed rate term of 4%, payable over a 25-year amortization schedule.
JLL has arranged two sales totaling $11.6 million. In the first deal, JLL’s Brendan Maddigan and Stephen Palmese, vice chairmen; Winfield Clifford, Ethan Stanton, Michael Mazzara, managing directors; and Patrick Madigan, vice president, represented the seller in theNew York, NY
Lee & Associates NYC has welcomed nine Russian-speaking entrepreneurs to its Midtown East office to pitch their business ideas to a panel of judges. The entrepreneurs are members of...New York, NY
The Kaufman Org. has appointed Michael Kazmierski as president of Kaufman Investments. Kazmierski, who was previously principal and director of acquisitions, will now lead all real estate investment strategies and...Inwood, NY
CBRE has completed the $6.2 million sale of an industrial property located at 500 Bayview Ave. The 40,000 s/f building was purchased by Northbridge Partners. The CBRE investment properties team of Elli Klapper, Jay Gelbtuch and Charles Berger, along with Ralph Guiffre of brokerage services, represented the seller, Signal Transformer.
New York, NY
Avant-Garde Network is hosting its first-ever Diversity in Commercial Real Estate (CRE) Conference at Columbia University, Alfred Lerner Hall, 2920 Broadway from 8 a.m. to 5 p.m. on July 26 and July 27. Hear from and network with 600 + participants and over 50 speakers...New York, NY
According to CBRE, David Hollander, a 25-year veteran of the firm, and Neil King, with 12 years at the company, have been promoted to vice chairmen. Both have been consistently recognized as top producers within CBRE.