Daly and Keating of Rudin lease 59,550 s/f to Vibrant at 80 Pine St.New York, NY Rudin, a full-service real estate organization, will be relocating nonprofit mental health provider Vibrant Emotional Health (Vibrant) to 80 Pine St., its 1.2 million s/f financial district office tower, with a 15-year lease totaling 59,550 s/f. Vibrant Emotional Health’s footprint will span the entire 18th and 19th floors of the 38-story building.
The Doe Fund tops out The Plains - 82,465 s/f multifamily residenceBronx, NY The Doe Fund, a homeless services nonprofit with a portfolio of transitional, affordable, and supportive housing throughout NYC, celebrated the topping out of its latest real estate development at 4519 White Plains Rd. The nine-story, $48.5 million joint venture — known as The Plains and designed by OCV Architects — is the second The Doe Fund has undertaken with Robert Sanborn Development.
Short Term Capital buys $3.9 million non-performing loan - 16,907 s/fHempstead, NY Short Term Capital, a New York-based family office, has purchased a $3.9 million non-performing note from the lender of a commercial property owner. The 16,907 s/f property, located at 999 Hempstead Tpke.
Basta & Fisher Brothers launch fifth term of its fellowship program to create career, social capital opportunities for underserved studentsNew York, NY Fisher Brothers, a leading New York City-based real estate firm, today announced it will continue its partnership with Basta, an organization that connects first-generation college students of color with career-building opportunities. For the past two years, Basta and Fisher Brothers have supported a paid fellowship program,
Kossoff of Avison Young arranges 21,273 s/f lease for The Mayfair Hotel
New York, NY Avison Young has arranged a 49-year lease for The Mayfair Hotel Group LLC, a boutique hotel owner and operator, at 242 West 49th St. The 78-key, 21,273 s/f building in New York’s Times Sq./Theatre District area was brokered off-market and began in January 2023. The transaction is valued at more than $30 million.
Merchants Capital sets office record with $1.3 billion financed in 2022
New York, NY Merchants Capital has set a record-breaking year with its debt production, totaling approximately $1.3 billion during 2022. The total production numbers served to finance and preserve a variety of properties across the nation, including affordable, multifamily and senior housing.
Urban Standard Capital launches ‘White Knight’ gap financing with $100 million
New York, NY Real estate private equity firm Urban Standard Capital (USC) has released a new strategy to deploy $100 million in gap financing, or rescue capital, including senior stretch financing, mezzanine and preferred equity for borrowers facing a financing gap. USC, which has over $600 million of real estate equity and debt investments, is known as the “certainty bid” in the middle market, one of few firms with committed, discretionary balance sheet capital.
Goldflam of Highcap Group arranges sale of 47-07 Broadway for $11.1m - 54,516 s/f
Queens, NY Josh Goldflam, co-founder & principal of Manhattan based commercial real estate firm Highcap Group, has arranged the sale of 47-07 Broadway, for $11.1 million. The building and lot are located in the Astoria neighborhood.
Houlihan of Houlihan-Parnes Properties arranges $350,000 in financing for 379 Sommerville Place
Yonkers, NY Jeremiah Houlihan of Houlihan-Parnes Properties has arranged for first mortgage financing in the amount of $350,000 for the refinancing of a 3-story wood frame five family house built in circa 1930 with a small extension on the 1st floor, backyard and six outdoor parking spaces, located at 379 Sommerville Pl.
Innovo Property Group tops out The Borden Complex
Long Island City, NY Innovo Property Group (IPG) celebrated the topping out of its newest mixed-use project, The Borden Complex. Located at 23-30 Borden Ave., the development broke ground during Summer 2022 and is expected to finish construction in Spring 2024.