Brooklyn, NY JLL Capital Markets has closed an $80 million land recapitalization and arranged the equity capitalization for the development of a mixed-use community at 499 President St. The community will feature 350 apartments and 20,000 s/f of ground-floor retail.
Manhattan, NY Black Bear Capital Partners (BBCP), a subsidiary of Black Bear Asset Management (BBAM), has arranged $58 million in financing on behalf of HSR Corp. for the refinance of a class-A, office building with ground-floor retail.
Advocacy at the state capitol
NYSCAR is passionate about the laws that affect all of us, on local, state and national levels. Our affiliations with NYSAR and NAR give us a voice in opposing legislation that would hurt our industry as well as in supporting positive legislation. This political “watch dog” function of our organization
Manhattan, NY MEAG, Munich Re’s asset manager, said that Swedish men’s shirts brand Eton has leased a ground floor retail space at 330 Madison Ave., the class A, 852,000 s/f tower that is 95% leased to tenants including Guggenheim Partners, JLL and Munich Re Group.
Rye, NY New York Blood Center Enterprises (NYBCe) celebrated the groundbreaking of their new campus. This 187,000 s/f campus located at 601 Midland Ave. will be home to NYBCe’s tri-state operations, including space for life sciences research, blood collections, processing and cell
The ever-changing rent regulations continue to pose challenges for New York City landlords. The combination of these laws with the higher interest rate environment has reduced values in some cases by 20 to 40%, with some assets now worth sub-debt levels. Many of the shorter-term loans coming due will
Tarrytown, NY In the building trades, the cornerstone guides the workers in their course; it is the standard of measure and alignment. The Leviticus Fund presented its 2023 Cornerstone Award to Sadie McKeown, president of The Community Preservation Corp. (CPC),
Manhattan, NY The Feil Organization signed a five-year, 7,896 s/f lease with First Look Media across the entire 10
th floor at 853 Bdwy. First Look Media’s new 10
th-floor space is a new pre-built
Rochester, NY Empire Commercial Construction, a retail-focused division of Taylor-The Builders, completed the construction contract for 95 Nutrition located at 1250 University Ave. In partnership with architect Jay F. Meyers, Empire renovated the 1,800 s/f, previously occupied
Manhattan, NY Ariel Property Advisors (Ariel) made several new hires, expanding the commercial real estate services and advisory firm’s investment sales and capital advisory teams.
