Ariel Property Advisors sells development site for $3.3 million

Brooklyn, NY Ariel Property Advisors has facilitated the sale of 99-103 Grove St., a 75’ x 100’ wide development site located in the Bushwick neighborhood. The asset, which benefits from being in an Economic Opportunity Zone, sold for $3.3 million, or

Famularo and Harlowe of Meridian Retail arrange 2,000 s/f restaurant lease

Manhattan, NY Meridian Retail Leasing, the retail leasing division of Meridian Capital Group, has arranged a long-term lease for an Omakase restaurant at 177 Ludlow St. in the Lower East Side

Kassin Sabbagh Realty brokers $28.5 million sale of 39,000 s/f building

New York, NY According to Kassin Sabbagh Realty, it has closed  the sale of 207 East 94^th St., a five-story 39,000 s/f commercial office building for $28.5 million. Glenwood Management sold to Elie Hirshfeld’s Hirschfeld Properties

Construction Law: Damage from a neighbor’s renovation - by C. Jaye Berger

I always advise my clients that the best time to gear up to handle damage from a neighbor’s renovation is before any damage occurs. Generally neighbors and/or managing agents of co-op or condominium buildings send out notices before a neighbor’s renovations commence.

Ranieri of NorthMarq completes $800,000 refinance of Canterbury Commons

Mount Vernon, NY Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office arranged the $800,000 refinance of Canterbury Commons. The 20-unit senior housing property is located on South Columbus Ave.

Ciafardoni and Sass of Silber Investment Properties handle $1.2 million sale

Lindenhurst, NY According to Silber Investment Properties, (SIP) a 20,000 s/f property located at 136 Sunrise Hwy. has been sold for $1.2 million (6.6% cap). The transaction occurred between two local Long Island investors, The Deperte Family (seller) and

Walker & Dunlop places $82 million in financing

Brooklyn, NY Walker & Dunlop, Inc. arranged $82 million in permanent financing for 158-unit Clover House, a newly renovated apartment complex in the Brooklyn Heights neighborhood.

SWBR recognized with Landmark Society Award for church restoration

Rochester, NY SWBR has been recognized by the Landmark Society of Western New York with a 2019 Stewardship Award for its work restoring Our Lady of Victory church. The annual award is given to individuals and organizations

2019 Year in Review: Harry Zlokower, Zlokower Company Public Relations

What are your predictions for commercial real estate in 2020?
Commercial real estate will contend with the legislative changes which appear to have diminished the multifamily investment sales market.

2019 Year in Review: Jake Blatter, KFIR Capital

What are your predictions for commercial real estate in 2020? 
Transactionally I believe the commercial real estate market will remain stagnant. The ink is barely dry on the new rent regulations and