Innovo Property Group tops out The Borden Complex

Long Island City, NY Innovo Property Group (IPG) celebrated the topping out of its newest mixed-use project, The Borden Complex. Located at 23-30 Borden Ave., the development broke ground during Summer 2022 and is expected to finish construction in Spring 2024.

Green joins Olshan Law as real estate partner

New York, NY Olshan Frome Wolosky LLP has hired Siobhan Green as a partner in the firm’s real estate practice. Green brings over two decades of experience in commercial real estate leasing transactions, representing clients in all aspects of the leasing process, from providing advice to clients at the term sheet stage to effectively negotiating leases to conclusion.

Featured Columnist: CHATGPT: Your New Best Friend - by Kimberly Zar Bloorian

In today’s highly competitive commercial real estate industry, companies are constantly seeking ways to stand out in the crowded marketplace. With the growing importance of an online presence and digital marketing, many businesses are turning to innovative technologies to gain an edge over the competition.

Lewis of ERG sells two buildings for $4.55m

Yonkers, NY ERG Commercial Real Estate has sold two adjacent multifamily buildings for $4.55 million. The four-story buildings, at 502 and 508 Van Cortlandt Park Ave. in the McLean Heights neighborhood, feature 46 units, totaling 38,948 s/f. The buildings were built in 1927 and 1922.

Verada leases 1,200 s/f to So Gold Studios

Brooklyn, NY Verada Real Estate has signed So Gold Studios to a 10-year lease for 1,200 s/f relocating to 448 Humboldt St., two blocks from their current home. The landlord, Investmates, a privately-held real estate investment and development company headquartered in Williamsburg, and a local boutique development company put their desire for exceptional design to fruition by bringing this exciting new addition to the neighborhood.

CBRE brokers 38,257 s/f 10-year lease for ESPRIT

Manhattan, NY Hudson Square Properties has arranged the 10-year lease for global fashion brand ESPRIT, a 38,257 s/f office on the 11^th and 12^th floors of 160 Varick St. in the Hudson Sq. neighborhood. The space will serve as the headquarters for the brand’s global design, branding, creative, and marketing efforts.

Cushman & Wakefield arranges $12.1 million sale of The Whitestone Assemblage

Whitestone, NY Cushman & Wakefield has arranged the sale of The Whitestone Assemblage for $12.1 million. Whitestone Assemblage is located at 151-11 6^th Rd., the site is an industrial outdoor storage (IOS) asset with a total lot footprint of 4.6 acres, including 1.5 acres of riparian water rights.

Okada & Company hires Fleischman, Mareddy, and Reavill

New York, NY Okada & Company (Okada & Co.) has hired three new team members: Alex Fleischman as director of business development, Kanuka Mareddy as assistant construction manager, and Avery Reavill as associate director. Fleischman is responsible for setting goals and developing strategic plans for both new business opportunities and revenue growth for the company.

Cantor Fitzgerald and Silverstein Properties close $165 million loan for 44-01 Northern Boulevard multi-family project

Queens, NY Affiliates of Cantor Fitzgerald, L.P. and Silverstein Properties have completed the latest closing of construction financing for 44-01 Northern Blvd., a project that Cantor Silverstein Opportunity Zone Trust, Inc. is invested in. Cantor Fitzgerald and Silverstein arranged a $165 million construction loan from Banco Inbursa for the development of a 354-unit multifamily property located on a 63,000 s/f lot in the Astoria neighborhood.

Cronheim arranges $9.1 million in financing for two mixed-use properties

New York, NY Cronheim Mortgage has secured $9.1 million in permanent financing for two mixed-use buildings in NYC. Andrew Stewart, Dev Morris, and Allison Villamagna placed the financings with Farm Bureau Life Insurance Company, whom Cronheim represented as correspondent and servicer.