JLL arranges $354 million capitalization for 734,000 s/f industrial project

Queens, NY JLL Capital Markets arranged the $354 million total capitalization for 28-90 Review Ave., a 4.03-acre, industrial development totalling 734,000 s/f in Long Island City.

Sherman of Baseline Real Estate Advisors brokers $13.5 million sale of 30,000 s/f development site

Brooklyn, NY Michael Sherman, founder of Baseline Real Estate Advisors negotiated the sale of 203-209 N 11^th St. for $13.5 million. The subject property is a 30,000 buildable s/f development site in Williamsburg. The property was a vacant warehouse on

Hempstead Industrial Development Agency approves economic benefit incentives for 138,245 s/f project

Inwood, NY Fred Parola, CEO of the Town of Hempstead Industrial Development Agency (IDA) has approved a package of economic development incentives for a proposed warehouse that will boost revenues for taxing jurisdictions, especially the Lawrence School District.

JLL closes $80m land recapitalization and vertical equity capitalization for 499 President St. project

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.

Black Bear Capital Partners arranges
$58 million refinancing for 503-511 Broadway

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.

Benefits of NYSCAR membership - by Ira Zucker

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

JLL represents landlord in Eton relocation to 330 Madison Ave.

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.

Consigli Construction, G3 Architecture Interiors Planning, and George Comfort & Sons break ground on New York Blood Center Enterprises campus

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

Getting into ready position - by Shallini Mehra

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

Leviticus Fund honors McKeown of CPC with Cornerstone Award

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),