White Plains, NY According to Rick Rakow, founder of Rakow Commercial Realty Group (Rakow Group), David Richman, long time senior broker at the firm, has acquired the company and is the new CEO. Richman will run the day-to-day operations of the firm, with Rakow stepping into his new role as chairman, working side-by-side with Richman to further grow the firm while continuing to serve its clients. Rakow Group is a full-service commercial real estate firm that serves the office, medical, retail, investment, and industrial markets in Westchester and Fairfield counties with over 30 years experience. In addition to its several thousand transactions, they have represented such organizations as IBM, White Plains Hospital, Bleakley Platt & Schmidt, Citrin Cooperman, Feeding Westchester, illy cafe’ North America and PURE Insurance.
East Patchogue, NY According to Frederick Braun III, chairman of the town of Brookhaven Industrial Development Agency, (IDA) the agency has ...
Manhattan, NY Jaime Schultz, executive managing director of Lee & Associates NYC has arranged six 10-year leases for Van Leeuwen. The si...
New York, NY On Thursday, November 29, some of real estate’s biggest names and rising stars came together for a night of cocktails and conversation when Fordham Real Estate Institute (REI) and MaryAnne Gilmartin, co-founder and CEO of L&L MAG, presented CEO + One.
White Plains, NY Newmark Knight Frank (NKF) has closed leasing transactions at White Plains Plaza totaling 79,301 s/f. The owner, Ivy Realty...
Manhattan, NY Friedman-Roth Realty Services completed the sale of 133 Ave. D in the East Village neighborhood. The deal closed at a sale price of $8.3 million (or $450 per s/f) with a GRM of 13.9 and a CAP rate of 4.37%. This property was exclusively listed by Richard Guarino, a partner at Friedman-Roth, on behalf of the seller, Vintage Properties.
Hempstead, NY According to Fred Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), the agency has consented to the sale of a Lynbrook office building and the transfer of existing economic incentives to the new owner, a national real estate investment trust.
Manhattan, NY According to Jack Resnick & Sons, Google, Inc. will locate a portion of its expanding office campus at 315 Hudson St., a n...
Bronx, NY According to EPIC Commercial Realty, the firm has completed the sale of 720-722 East 216th St., two contiguous parcels consisting a development site in the Williamsbridge neighborhood. The property traded for $2.7 million. Emmanuel Ukah, investment sales associate at EPIC Commercial, represented the sellers and the buyer.
In Part 1, published in NYREJ on December 18th, I discussed certain important questions with respect to the Opportunity Zone (OZ) program that were answered, and answered quite favorably to taxpayers, by the U.S. Treasury in regulations and a ruling issued on October 19, 2018 (proposed regulations). In this Part 2, I discuss two more areas of initial uncertainty that the Treasury resolved in a favorable way for taxpayers but, even more importantly, in a way that also made it much more likely that the OZ program may actually achieve the policy goals behind it.
