New York City development tools: Inclusionary air rights part 2 - by Patrick O’Sullivan and Michael Smith

Part 1 of this four-part series appeared in the December 1^st edition. The generation of inclusionary air rights provides owners with an opportunity to improve a development project’s economics. This second part of our series

A tale of Two Bridges: How did 4 towers get approved without the Uniform Land Use Review Procedure? - by Christopher Wright

A zoning saga is unfolding at the Two Bridges Development site located on five blocks abutting the East River between the Manhattan and Williamsburg Bridges. At question is how zoning applications filed by developers to expand the permitted heights of four buildings

Victory Capital facilitates four loans: $9.5 million total

New York, NY Victory Capital closed the following:  • A $2.4 million loan with a 3.75% interest rate: Victory Capital delivered on a refinance for two collateralized properties located between Maclay Ave. and Castle Hill Ave.

Flexibility is key to completing deals in today’s difficult market - by Grant Greenspan

Over the last eight months, New York City’s (NYC) vibrance has been a bit dimmer given the effects from the global COVID-19 pandemic. Many companies continue to move out of their office spaces or have made the decision to work from home well into 2021

Sparks of GFI Realty Services arranges $5.85m sale

Manhattan, NY GFI Realty Services, LLC arranged the $5.85 million sale of 1314 St. Nicholas Ave., a  vacant 6,753 s/f NNN lease property with 15,866 s/f of air rights in the Washington Heights neighborhood.

Gotham Org. closes $232.35 million in financing with Goldman Sachs

New York, NY Gotham Organization, in partnership with Goldman Sachs Urban Investment Group, has closed on a $162.35 million loan from co-lenders, Wells Fargo Bank, N.A and U.S. Bank, N.A. Goldman Sachs Urban Investment Group

Asset Preservation to offer webinar series for attorneys, CPAs and all real estate professionals - by Pamela Michaels

Asset Preservation, Inc. will be offering a series of free webinars that qualify for CE credits in January. The presentations are open to the public. Topics this month include Delaware Statutory Trusts (DSTs), how to buy before you sell

Piasecki, Prager and Zukerman join Lev

New York, NY According ot Lev, a technology company focused on modernizing commercial real estate transactions, Justin Piasecki, managing partner; Aaron Prager, director; and Avi Zukerman, director, have joined

Brody of Rosewood brokers $42 million sale of Washington DC multifamily portfolio

Washington DC Rosewood Realty Group’s National Division has closed on yet another deal, this time in Washington D.C.

Carillo of HKS Real Estate Advisors representing East West Development in LIC site sale

Queens, NY Peter Carillo of HKS Real Estate Advisors is representing East West Development in the sale of a Long Island City development site.