Front Section

Yankelovich and Orlander of GFI collaborate in $15.5 million sale

Brooklyn, NY GFI Realty Services, LLC completed the $15.5-million sale of 2261 Ocean Avenue, a six-story, 54-unit apartment building in the Madison neighborhood.

Tri State Commercial and Ripco complete 3,100 s/f for Orangetheory Fitness

Brooklyn, NY According to Tri State Commercial, Orangetheory Fitness has signed a 15-year lease for 3,100 s/f  at 284 Prospect Park West in the Park Slope neighborhood.

Time records required for rental real estate brokers - by Andrew Lieb

Attention rental brokers – there is a new Safe Harbor available for your clients to claim qualified business income that is entitled to a 20% income tax deduction set forth at 26 USC §199A and your clients are going to need your help to qualify.   

Steffelin joins George Smith Partners as senior vice president on the Malcolm Davies team

Manhattan, NY George Smith Partners has established a bicoastal presence with the opening of an office in Midtown. Industry veteran Ed Steffelin has joined the firm as senior vice president on the Malcolm Davies team, and will oversee the new office, which is located at 750 Lexington Ave.

Polsinellis of Compass sell package of Nolita retail condos for $7.35 million

Manhattan, NY Adelaide Polsinelli, vice chair of Compass, has closed on the off-market, re-sale of three retail condos consisting of 2,500 s/f at 262-272 Mott St., in the Nolita neighborhood for $7.35 million, just under $3,000 per s/f.

Sabre RE Group launches franchising platform with Gardner and QSR Franchise Development Group

New York, NY Sabre Real Estate Group is launching a new service platform for the franchising industry through a strategic partnership with Steven Gardner and QSR Franchise Development Group.

The Wizard of OZ (that’s “Opportunity Zones”): Down in the Boondocks - by Dan Flanigan

My law firm has 21 offices located across this land of OZ. We are working intensely on many projects throughout the country and are seeing many projects moving forward…

HFF hires Nieves as a director focused on M&A and corporate advisory services

New York, NY Holliday Fenoglio Fowler, L.P. (HFF) has hired Mike Nieves as a director focused on M&A and corporate advisory services.

What to do about closing costs in a 1031 exchange? - by Pamela Michaels

A question that arises in many 1031 exchanges is what costs can be paid from sale proceeds without resulting in taxable boot or potentially disqualifying the exchange?

RealEats to expand Geneva facility; $2 million project to create 400 jobs

Geneva, NY Governor Andrew Cuomo celebrated the expansion of the meal delivery company RealEats at 122 N. Genesee St. in Ontario County. As a result of support from the state, RealEats plans to immediately expand operations at their Geneva facility and create up to 400 new jobs over the next five years.