New York City

Valuable strategies for taxpayers with substantial income and/or capital gains - by Michael Packman

For years, the ownership and use of real estate in the United States has had tax advantages if you know what you are doing, and today is no different. I would like to share a couple of strategies that can be valuable to those taxpayers with substantial income and/or capital gains.

Moss and McGratty of Silverstein Props. lease 103,000 s/f at 3 WTC; Assisted by CBRE team; Transwestern reps tenant

Manhattan, NY According to Silverstein Properties, Kelley Drye & Warren LLP has signed a 15-year, 103,000 s/f office lease at 3 World Trade Center. Currently located at 101 Park Ave., the firm will move to the 66th, 67th and 68th floors...

The price of air in New York City is far from free – Selling at prices that baffle the mind - by Josh Lipton and Andrew Levine

The air we breathe may be free but the air rights in NYC aren’t and they are often sold at numbers that baffle the mind. With limited habitable land remaining in NYC, developers must go vertical to maximize what can be built. With every soaring skyscraper comes a unique and remarkable view for the residents living there. But what you...

Parker, Gillen, and Tambor of Hodges Ward Elliott represent Related Companies in $36 million sale

Bronx, NY Hodges Ward Elliott arranged the $36 million sale of the 252-unit River Court and Gerard Court apartment complex located at 1065-1075 Gerard Ave. A Hodges Ward Elliot team comprised of Daniel Parker, Paul Gillen, and Ariel Tambor

M&T Bank Q&A: Today’s commercial real estate trends dominate Manhattan’s West Side

Commercial real estate is undergoing a shift. New properties are using smart technology like never before, and existing properties need to evolve to be more efficient for both owners and tenants. In New York City, the experts at M&T Bank...

Kontis and Amato of TEKRA broker $13.6 million development site sale; Represent seller and procure buyer

Queens, NY TEK Realty Advisors LLC (TEKRA) has completed the sale of a development site located at 44-15 College Point Blvd. in Flushing. The property sold for $13.6 million or $478 per buildable s/f, above market average. Situated on the northeast corner of College Point Blvd. and Pople Ave.,

A lawyer discusses co-op and condo renovations: Where to start in the planning process? - by C. Jaye Berger

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.

Sec. 199A: A new deduction for QBI from sole proprietorships and passthrough entities - by Sandy Klein

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. 199A

Schenker and Hornstock of ABS close 99-year lease

Manhattan, 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.

Cotsalas of NorthMarq arranges $4 million refinance

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.