Front Section

Brisa Builders and PMG Affordable secure $51.7 million funding for 92-unit affordable housing project

Queens, NY Brisa Builders Development LLC and PMG Affordable have secured $51.7 million in financing for 19-19 Cornaga Ave., a nine-story, 92-unit affordable housing project designed by Paul Castrucci Architects and located in the Downtown Far Rockaway Special

Bradford Allen leases 50,000 s/f at Cohen Brothers Realty's 750 Lexington Ave.

Manhattan, NY Bradford Allen negotiated the completion of 50,000 s/f of new leases at 750 Lexington Ave. in the Plaza District. Glenn Isaacson, the firm’s New York market leader, and Tony Builder, senior associate, represented building owner Cohen

Meridian’s Doshi and Mehra close
on a pair of Bronx elevator buildings

Bronx, NY Amit Doshi and Shallini Mehra have closed the sale of two fully rent-stabilized elevator buildings, marking the first change in ownership in 60 years. The properties, located at 1930 Anthony Ave. and 1475 Wythe Pl., are well-maintained assets situated in the mid-section of the city.

Bronx Chapter of HGAR to hold Bowling the Bronx event on April 8 at Bowlero

White Plains, NY The Bronx Chapter of the Hudson Gateway Association of Realtors (HGAR), will celebrate the 10th anniversary of its “Bowling with the Bronx” event on April 8, from 6:30 to 9:00 PM at Bowlero.

Callahan Construction completes Rose Associates’
440-unit Alexander Crossing apartment community

Yonkers, NY Callahan Construction Managers (Callahan) has completed construction of the new Alexander Crossing apartment community. The seven-story project was developed by Rose Associates and designed by Perkins Eastman.

Greater Binghamton Chamber of Commerce joins The Manufacturers Alliance of NY

Binghamton, NY The Greater Binghamton Chamber of Commerce has joined The Manufacturers Alliance of New York, led by MACNY, The Manufacturers Association, to bolster manufacturing advocacy and workforce development in the southern tier region. The Alliance

The state of commercial real estate debt markets - by Michael Zysman

Today’s banking environment for commercial real estate can be defined as a period of low liquidity and lingering distress. Much of this distress is due to banks having made aggressive loans in the COVID era, coupled with the functional obsolescence of many

Ariel Property Advisors arranges $27 million in loans

Brooklyn, NY The Capital Services Group for Ariel Property Advisors (Ariel) arranged nine separate financing transactions totaling more than $27 million for properties in Brooklyn, Upstate New York, Connecticut, Pennsylvania, Texas and New Mexico. These

City of Yes for Housing Opportunity: Improving the ability to transfer a landmark's development rights - by Michael Smith and Robert Huberman

New York City real estate owners and developers have long asked us about transferring unused development rights from an individual landmark to a site across the street, through a 74-79 Special Permit issued by the City Planning Commission (CPC). While these transfers have

McHugh Furnishings acquires Professional Furnishings & Equipment

Uniondale, NY McHugh Furnishings, a provider of specialty furnishings for education, healthcare, entertainment, and multifamily housing has acquired Professional Furnishings & Equipment (PFE), a Buffalo-based company with additional offices in Syracuse and