New York City

Executive of the Month: Mancini, principal and head of asset management at Innovo Property Group

New York, NY Frank Mancini, principal and head of asset management at Innovo Property Group, oversees all aspects of the administrative, financial, leasing, capital and operations of the IPG portfolio. Mancini has a 30-year track record of success working on asset management and operations...

An attorney discusses retail leases: Avoiding renovation payment issues - by Berger

One of the biggest challenges in retail is getting a new store open on time, with the design you intended and with no mechanic’s liens. People lease retail space with great enthusiasm for the product they are going to sell, but often are not sufficiently organized to have the store ready...

East Harlem’s real estate to benefit from opening of Proton Center & Development Pipeline - by Marko Agbaba and Remi Mandell

East Harlem has experienced a revival in recent years, with an ambitious rezoning plan paving the way for an uptick in development activity. Builders have been breaking ground at a swift pace, but the neighborhood is about to undergo yet another transformation with the opening of a truly unique property:

Marcus & Millichap brokers two Brooklyn sales totaling $3.29 million; Includes $1.09 million sale by Riney and Greenblatt

Brooklyn, NY According to John Horowitz, first VP - regional manager of Marcus & Millichap, the firm has completed two sales totaling $3.29 million. The first sale was of 230 Saratoga Ave., a 3,361 s/f mixed-use property.The asset sold for $1.09 million.

Kaplan and Arzi of CBRE handle $8.7 million Lower East Side sale

Manhattan, NY CBRE has arranged the $8.7 million sale of 66 Clinton St. and an adjacent land parcel on the Lower East Side. The three-story, 4,340 s/f building and vacant lot were purchased by Vault Development and TLM Equities for planned development of a boutique residential property.

Avison Young arranges 4,750 s/f lease to SharesPost

Manhattan, NY According to the New York office of Avison Young, a new five-year, 4,750 s/f lease has been completed for SharesPost Inc. on the 27th floor of Tower 45, the 458,446 s/f class A office tower located at 120 West 45th St. 

Waller of ABS brokers 3,500 s/f Brooklyn lease

Brooklyn, NY ABS Partners Real Estate has brokered a 3,500 s/f lease to School of Rock at 300 Graham Ave., a 25-unit condo building. ABS' Ben Waller represented the ownership, Gloveman LLC, while Harry Safter of Jonathan Barry Associates acted on behalf of the tenant.

CoreNet NYC hosts 2019 Annual Dinner; Attended by 800 professionals and held at American Museum of Natural History

Manhattan, NY CoreNet Global New York City chapter (CoreNet NYC) hosted its sold-out 2019 Annual Dinner on May 2nd at the American Museum of Natural History located at Central Park West & 79th St. 

Zeccardi joins Cresa as senior vice president, project management

Manhattan, NY Cresa welcomed industry leader Ronald Zeccardi as senior vice president, project management. Zeccardi, who will be based in the NYC office, joins a team led by James Pirot, managing partner. In addition, he will be working with Cresa's Integrated Control Solutions group...

How the limitation on Excess Business Losses affects real estate professionals - by Sandy Klein

The Tax Cuts and Jobs Act added Sec. 461(l) which limits the amount of losses from trades or businesses of non-corporate taxpayers that can be claimed on their tax returns.  Taxpayers’ who are “real estate professionals” can no longer deduct excess business losses against other non-business income in the current year without limitation as in the past.