Yonkers, NY The Yonkers Industrial Development Agency (YIDA) voted final approval at its August 13 meeting of financial incentives for a $36.1 million affordable senior housing development located at 221-223 Buena Vista Ave. The nine-story building would feature 94 units comprised of
Yonkers, NY Cronheim Mortgage has secured $10.3 million to refinance a mixed-use portfolio. The transaction refinanced the existing debt on Nepperhan Pl., a mixed-use building with office and retail tenants as well as YoHo Lofts, a multi-story industrial loft building that has been converted
Manhattan, NY According to SMPS, Olivia Farquharson, CDMP, PCM, has been recognized as the 2025 chapter president of the year. Farquharson was honored at Amplify A|E|C, the Society’s annual conference, in Columbus, OH.
Melville, NY The Suffolk County Industrial Development Agency (IDA) has approved amended financial assistance for 125 Spagnoli LLC, an affiliate of The Beechwood Organization, to support a $50 million increase in the total investment for The Ferncliff Hotel,
Tax exempt organizations that consider owning real estate or leasing their owned space to others to offset operating costs, face a complex minefield of restrictions that can be difficult to analyze and that present significant financial consequences if violated. New York
Brooklyn, NY Avdoo closed on a $47 million construction loan for 110 Boerum Pl., the firm’s newest residential development in Cobble Hill. The financing, provided by Valley National Bank, represents a milestone as the project continues to progress on this
Manhattan, NY BXP made public that Grammarly has signed a lease for 23,038 s/f at 360 Park Ave. South. Grammarly will occupy an entire floor of the fully redeveloped 450,000 s/f workplace, which features newly renovated and reimagined lobbies, a full suite of amenities, and pre-built
Manhattan, NY Vornado Realty Trust has entered into an agreement to purchase the 623 Fifth Ave. office condominium, a 36-story, 382,500 rentable s/f building situated above the flagship Saks Fifth Ave. department store, for $218 million. The building’s location provides for light,
Brighton, NY Endeavor Real Estate Group represented the buyer in the acquisition of 800 West Metro Park, a flex building. A local investment group paid $1.95 million for the 21,000 s/f building, built in 1999 on 3.96 acres. The asset was 100% leased and producing income at the time of
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
