Tishman Speyer to partner with Michelin-Starred chef Gabriel Kreuther on two new restaurants at The Spiral

Manhattan, NY Tishman Speyer will collaborate with two-Michelin-starred Chef Gabriel Kreuther to bring two new dining concepts to The Spiral, Tishman Speyer’s recently-completed 66-story office tower on Midtown Manhattan’s West Side. The street-level restaurants overlook the four-acre Bella Abzug Park.

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 49^th 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 1^st 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.

Green joins Olshan Law as real estate partner

New York, NY Olshan Frome Wolosky LLP has hired Siobhan Green as a partner in the firm’s real estate practice. Green brings over two decades of experience in commercial real estate leasing transactions, representing clients in all aspects of the leasing process, from providing advice to clients at the term sheet stage to effectively negotiating leases to conclusion.

Featured Columnist: CHATGPT: Your New Best Friend - by Kimberly Zar Bloorian

In today’s highly competitive commercial real estate industry, companies are constantly seeking ways to stand out in the crowded marketplace. With the growing importance of an online presence and digital marketing, many businesses are turning to innovative technologies to gain an edge over the competition.

Lewis of ERG sells two buildings for $4.55m

Yonkers, NY ERG Commercial Real Estate has sold two adjacent multifamily buildings for $4.55 million. The four-story buildings, at 502 and 508 Van Cortlandt Park Ave. in the McLean Heights neighborhood, feature 46 units, totaling 38,948 s/f. The buildings were built in 1927 and 1922.