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GFI Realty completes two Brooklyn sales totaling $18.4 million

Brooklyn, NY GFI Realty Services, LLC has completed the following sales:  • The $10.4 million sale of 2031 and 2233 Ocean Ave. • The $8-million sale of 1865 77th St.

Nassau IDA approves economic incentive package for proposed 40,000 s/f Acutis Diagnostics lab

Mineola, NY According to Nassau County executive Laura Curran, the Nassau County Industrial Development Agency (IDA) has approved a package ...

Using LLCs for succession planning - by Thomas Kearns

The banks that give commercial mortgages and the institutions that invest equity into commercial real estate transactions always impose controls over the identity of the individuals who manage the borrower/joint venture. The controls include restrictions on transfers of controlling economic interests and on which individuals can exercise the management rights of the developer in the deal.

Futterman of Newmark Knight Frank speaks at February 12th YM/WREA lunch

Manhattan, NY The Young Mens/Womens Real Estate Association (YM/WREA) held their monthly luncheon at The University Club, One West 54th St., College Hall (Main Floor) on February 12th. The speaker was Robert Futterman, chairman, Retail Leasing Division, Newmark Knight Frank (RKF).

Pealer of Marcus & Millichap sells Hudson Valley Business Center for $5 million

Pleasant Valley, NY Marcus & Millichap has completed the sale of the Hudson Valley Business Center, and office complex located at 199 West Rd., according to John Krueger, regional manager of the firm’s Manhattan and Westchester offices. The asset sold for $5 million.

Outside the Region: Eyzenberg & Co. arranges $30.5 million refinance

Baton Rouge, LA Eyzenberg & Co. has secured a $30.5 million Fannie Mae conventional multifamily loan to refinance a 224-unit apartment c...

Outside the Region: Hunt Real Estate Capital refinances Philadelphia multifamily – $5.85 million

Philadelphia, PA Hunt Real Estate Capital provided a $5.85 million Freddie Mac Small Balance loan to refinance a multifamily property locate...

Outside the Region: Uber Capital Group sources $9.8 million acquisition loan

Conway, AR Led by president and founder Joel Gorjian, commercial real estate financial advisory and mortgage origination firm Uber Capital G...

Ferrara of Brax Realty and Thompson of Savills Studley arrange 99-year ground lease valued at $108 million

Bronx, NY Michael Ferrara, managing principal of Brax Realty and Daniel Thompson, managing director of Savills Studley exclusively represented the landlord, M & R Friedlander Supply Co., and procured the lessee, 550 Trinity LLC, in a 99-year ground lease valued at $108 million.  The subject properties are located at 550 Trinity Ave. and 571 Jackson Ave. in the Mott Haven neighborhood. 

Outside the Region: Smith, Gambrell & Russell represents Big V Props. in three retail acquisitions

Charlotte, NC Smith, Gambrell & Russell, LLP (SGR) served as legal counsel to Big V Property Group in three of its recent shopping cente...