Morrison Foerster advises Mori Trust in SL Green Realty’s sale of 49.9% interest in 245 Park Ave.

Manhattan, NY SL Green Realty Corp. sold a 49.9% interest in 245 Park Ave. to a U.S. affiliate of Mori Trust Co., Ltd. at a gross asset valuation of $2 billion.

JLL Capital Markets arranges loan from Santander Bank and City National Bank and JV equity from The Davis Cos. for 268,000 s/f 55 Willoughby

Brooklyn, NY JLL Capital Markets has arranged the capitalization of 55 Willoughby, a 268,000 s/f, mixed-use development that will feature 295 apartments and 3,500 s/f of retail space.

The Oak & Avery Group brokers two office sales totalling $3.925 million

New Paltz, NY The Oak & Avery Group negotiated the sale of two mixed-use properties in Ulster County totaling $3.925 million: • 71 Main St., New Paltz, a 6,600 s/f office-retail building purchased by a local owner-user,

Greyhill Group expands portfolio with $22.5
million acquisition of Mill Hollow Apartments

Altamont, NY Greyhill Group has acquired Mill Hollow Apartments, an 84-unit multifamily property at 48 Bavarian Way. The class-A apartment complex is located about 20 miles west of Albany.

What does the second half of the year hold for CRE? - by Jakub Nowak

With summer now in full swing, it’s time to reflect on the first half of 2023. It has been one heck of a ride. The CRE news cycle during the last six months has been dominated by rising interest rates, predictions of a looming recession, a regional banking crisis, office

Invictus Real Estate Partners provides $62.25 million loan for mixed-use development

Brooklyn, NY Invictus Real Estate Partners has closed a $62.25 million construction loan for a 162,000 s/f mixed-use development project in the Prospect Lefferts Gardens neighborhood. The loan will support the construction of the seven-story building

Wavecrest Equities buys five building Bronx portfolio for $28 million

Bronx, NY Wavecrest Equities has purchased a portfolio of five buildings in the Little Italy section of the city for $28 million and assumed two existing loans on the properties totaling $20 million. 

Greystone appoints Okland chief revenue officer

Manhattan, NY Blake Okland has joined Greystone as chief revenue officer. In this newly created role, Okland will focus on scaling Greystone’s industry-leading multifamily financing offerings and investor relationships and further leverage

City and development partners close on phase two of The Peninsula

Bronx, NY New York City Economic Development Corp. (NYCEDC), the New York City Department of Housing Preservation and Development (HPD), and the New York City Housing Development Corp. (HDC), in partnership with the development team Gilbane Development Co.,

How will NYC’s Climate Mobilization Act affect commercial and multi-family residential properties in 2024? - by Anthony Forzaglia

Local Law 97, commonly known as the Climate Mobilization Act (CMA), was passed by New York City lawmakers in 2019. The law imposes new environmental regulations on specific buildings covered by the statutes in New York City, with the goal of reducing greenhouse gas emissions