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NYC Department of Transportation leases 212,094 s/f at HUB LIC located at 47-25 34th street

Long Island City, NY According to Joseph Farkas, CEO and founder of Metropolitan Realty Associates LLC ("MRA"), the New York City Department of Transportation (DOT) has signed a long-term lease at HUB LIC, located at 47-25 34th St. The 21-year lease covers

Universal Music Group relocates NY offices to PENN 2, Vornado Realty Trust’s office tower along Seventh Ave. in the Penn District

strong>Manhattan, NY Universal Music Group (UMG) has leased office space at PENN 2, Vornado Realty Trust’s office tower along Seventh Ave. in the Penn District. The building will serve as the headquarters of labels Def Jam Recordings, Island Records, Mercury Records and Republic Records, Bravado, UMG

Merchants Capital secures $231 million for 877-unit
NYCHA PACT renovation of Eastchester Gardens

Bronx, NY Merchants Capital secured $231 million in total financing for the renovation of Eastchester Gardens, a $391 million New York City Housing Authority (NYCHA) Permanent Affordability Commitment Together (PACT) project that spans 10 residential buildings. Eastchester Gardens is one of the oldest

New York City Department of Transportation leases 212,094 s/f at Metropolitan Realty Associates and Nuveen’s HUB LIC

Long Island City, NY Joseph Farkas, CEO and founder of Metropolitan Realty Associates LLC (MRA), said that the New York City Department of Transportation (DOT) has signed a long-term lease at HUB LIC, located at 47-25 34th St. The 21-year lease covers 212,094 s/f across the entire ground

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.

VOA-GNY and Sanborn celebrate completion of YP Senior Residence

Bronx, NY Mayor Eric Adams and governor Kathy Hochul made known the completion of YP Senior Residence, a 117-unit affordable housing development in the Morris Heights neighborhood reserved for older New Yorkers who meet specific income restrictions. The $81 million project includes 37 supportive apartments

RIPCO Real Estate closes condo construction loan at 842 Sixth Ave. for $76.7 million

Manhattan, NY RIPCO Real Estate has secured $76.7 million in first mortgage construction financing for 842 Sixth Ave., a luxury condominium development located in the NoMad neighborhood. Upon completion, the 27-story building will comprise 101 units and total 85,176 sellable s/f, including 100

Upstate NY’s Trinity Realty Group joins X Team Retail Advisors

Albany, NY X Team Retail Advisors, a national platform comprised of nearly 400 retail real estate specialists spread across nearly 50 markets in the U.S. and Canada, continues to expand its national footprint. The latest to join as an affiliate member is Trinity Realty Group (TRG), a market-leading retail

Dunne, Apfel and Langer of CBRE sell 1 Water St. for Veris Residential

White Plains, NY CBRE brokered the sale of 1 Water St., a 1.3-acre development site to David Gaber of Bijou Properties and Kavneet Sethi of Green Property LLC. The CBRE team of Jeffrey Dunne, Eric Apfel, and Travis Langer represented the seller, Veris Residential.

Heritage Affordable Communities acquires Claremont Park

Bronx, NY Heritage Affordable Communities (HAC) acquired Claremont Park, a 101-unit affordable housing property. Originally developed in 2007 through the Low-Income Housing Tax Credit (LIHTC) program, this year 15 preservation transaction ensures continued stability and long-term affordability for residents.