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Klosed Properties acquires two buildings in the Belmont neighborhood of the Bronx

Bronx, NY According to Klosed Properties, the firm has acquired two properties in the Belmont neighborhood.  2333 Beaumont Ave. is a mixed-use 2,000 s/f building, with plans to build 12 apartments, 11,000 s/f ground up.

Cronheim Mortgage arranges $5 million for 52,000 s/f office building in Manhattan

Manhattan, NY Cronheim Mortgage secured $5 million in financing for 32 East 31st St. The 20-year loan amortizes over a 30-year schedule for the borrower, 32 East 31st Street Corp. Cronheim acted as corresponding agent and servicer for CMFG Life Insurance Co.

Avison Young New York and Akerman LLP host
“Why Amazon Should Stay” event on March 21st

New York, NY On March 21, Avison Young New York and Akerman LLP hosted a panel at the Harvard Club in Manhattan on real estate incentives and how they are often misconstrued by the public. This was particularly true in the case of Amazon looking to build its new headquarters in Long Island City, according to panelists from across the real estate industry.

Ariel Property Advisors nominated for REBNY's "2018 Most Ingenious Deal Of The Year Award"

Manhattan, NY According to Ariel Property Advisors, the company has been nominated for the Real Estate Board of New York's "Most Ingenious Deal Of The Year Award" for its role in the capitalization of the Taystee Building. Ariel is one of only six nominees for the award.

Amato and Kontis of TEK Realty Advisors sell Long Island City multifamily for $1.835 million

Queens, NY TEK Realty Advisors LLC (TEKRA) has facilitated the sale of 34-32 43rd St., a value-add multifamily building in Long Island City. The all-cash transaction was valued at $1.835 million, which equates to or $339.81 per s/f or $305,833 per unit. 

Gang, O’Toole & Waldman of Lee NYC execute lease for BerlinRosen: 7,000 s/f

Manhattan, NY Gregory Gang, executive managing director/principal, Catherine O’Toole, executive managing director/principal, and Ari Waldman, director of Lee & Associates NYC have arranged a six-and-a-half-year, 7,000 s/f sublease on the fourth floor at 15 Maiden Ln. for BerlinRosen.  The public relations and strategic communications firm is already an anchor tenant at

Meatpacking Business Improvement District appoints LeFrancois new executive director

Manhattan, NY According to the Meatpacking Business Improvement District (BID), it has appointed longtime BID leader Jeffrey LeFrancois as its new executive director. LeFrancois was unanimously approved to replace Lauren Danziger on the BID’s board of directors…

Difference between market value and assessed value? - by David Wilkes

The determination of one of the largest annual costs of New York real estate ownership, the property tax, is often poorly understood by even the most sophisticated real estate professionals. The result is that many property owners inadvertently pass on opportunities to reduce their operating expenses. 

JLL completes 123,516 s/f lease for TransPerfect global headquarters with global holdings management at 1250 Broadway

Manhattan, NY JLL has completed a 15-year lease totaling 123,516 s/f with TransPerfect for Global Holdings Management Group’s NOMAD Tower, 1250 Broadway. TransPerfect will relocate from 3 Park Ave. to occupy space on five full floors, including

The Agency | Broome County IDA/LDC holds “Opportunity Zones Primer” Jan. 22nd

Binghamton, NY The Agency|  Broome County IDA/LDC provided a first glimpse of Broome County, NY’s six Opportunity Zones during a presentation on January 22nd, 2019.   An “OZ Primer” was provided by  Harris Beach, PLLC and Insero & Co. CPAs, LLP. Over 100 developers, community members and investors attended the event.