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Rockabill Development and Goddard Riverside secure $38 million to build permanent supportive housing

Manhattan, NY Rockabill Development and Goddard Riverside have closed on $38 million in financing to transform an illegal transient hotel on the Upper West Side into permanent supportive housing to serve single adults with a history of chronic homelessness.

Message from the president of Real Estate Board of New York - by James Whelan

The latest phase of New York City’s economic recovery has shown how vital the real estate industry is for the region’s vibrancy. Thanks to the hard work of thousands of real estate professionals, New York City continues to be an attractive place to live and work.

Kornbluh joins Adler & Stachenfeld as partner

Manhattan, NY Joseph Kornbluh has joined Adler & Stachenfeld LLP (A&S) as a partner in the corporate real estate/joint venture practice group. Adler & Stachenfeld has one of the largest real estate law practices in New York City,

Cotsalas and Delitsky of Northmarq secure $26 million refinance

Manhattan, NY Chuck Cotsalas, senior vice president/senior director in Northmarq’s Long Island office, and Robert Delitsky, senior vice president/managing director in New York City’s office, have arranged a $26 million loan secured through luxury

Four ways to use Delaware Statutory Trusts for your 1031 Exchange - by Dwight Kay

Regardless of what economic trends are taking place, Delaware Statutory Trusts provide investors four timeless benefits for their 1031 Exchanges including deferring capital gains taxes, eliminating the headaches of active management (think the three T’s: tenants, toilets, and trash), and

Bayport Funding provides $7.02 million bridge loan

Brooklyn, NY Bayport Funding has delivered a $7.02 million bridge loan to support the ground-up construction of 1218-1222 Putnam Ave. in Bushwick. Developed by 1222 Putnam Development Inc., this 21-unit, four-story multifamily building will help satisfy the demand

Cushman & Wakefield and JRT Realty Group lease 3,380 s/f to Shake Shack in Penn Station

Manhattan, NY Cushman & Wakefield and JRT Realty Group arranged a long-term, 3,380 s/f lease with Vornado Realty Trust for Shake Shack in Penn Station, on the corner of 33rd St. and Seventh Ave.

OPEN Impact brokers 81,590 s/f for build-to-suit Bold Charter School

Bronx, NY OPEN Impact Real Estate LLC (OPEN) and Transwestern Real Estate Services represented Bold Charter School in a 81,590 s/f transaction for the ground-up construction of a build-to-suit school to be located at 1472 Boston Rd. in the Crotona East Park neighborhood.

2023 REBNY Honorees - Elly Pateras - The George M. Brooker Management Executive of the Year Award

Elly Pateras is an executive managing director of Douglas Elliman Property Management. In addition to her responsibilities overseeing the operations of DEPM, Pateras oversees a team of account executives who are responsible for managing over 60 of the finest buildings in New York City

Bernstein and Cohen of Besen Partners complete $9.65 million sale of 112 4th Ave.

Manhattan, NY Besen Partners negotiated the sale of 112 4th Ave., a five-story basement 13,969 s/f above grade D2 elevatored loft building located on the west side of 4th Ave. between E 11th and E 12th Ave. in the Union Sq./Greenwich Village neighborhood.