Eustace joins Hudson Realty Capital

Manhattan, NY Brandon Eustace has joined Hudson Realty Capital as managing director of FHA originations. Eustace brings more than a decade of experience in FHA/HUD real estate finance. His addition comes as the firm’s FHA division continues to expand its

GFP Real Estate leases 4,949 s/f to Momenti at 200 Varick St.

Manhattan, NY According to GFP Real Estate, Momenti, Inc. signed a new five-year lease for 4,949 s/f at 200 Varick St. in Hudson Sq. Robert Silver, Brittany Silver, Anthony Sciacca and Jamie Jacobs of Newmark

NYC commercial real estate market sees encouraging start to 2023 as inflation drops and lending rates decrease - by Jakub Nowak

In last month’s column, I examined the challenges that New York City commercial real estate is facing in 2023 due to high inflation and the impact of recent rate hikes. However, this month I am pleased to share that after a challenging second half of 2022, the year is off

United Properties sells 5,500 s/f retail for $2.65 million

Copiague, NY United Properties Corp. has completed the sale of 1389-1395 Montauk Hwy. to IDN, LLC, a Queens-based entity, for $2.65 million. The 5,500 s/f retail strip, located on the signalized intersection of Montauk Hwy. and Strong Ave.

Vahdat of Elmo Realty creates Race Unity Award; Garaicoa of Lehman College awarded plaque/check

Bronx, NY To support racial harmony and the unity of mankind, Moujan Vahdat, a New York based real estate developer and founder of Elmo Realty Co., has implemented an annual competition known as the Race Unity Award. After a citywide competition, junior

DH Property Holdings leases parcel to IAA

Staten Island, NY DH Property Holdings, LLC has leased nearly 30% of its 53-acre industrial site to IAA, Inc. an outdoor storage operator and leader in the salvage vehicle industry.

Retailers and owners show confidence in Westchester retail

Harrison, NY RM Friedland negotiated six new retail leases, totaling 30,382 s/f in December with leases to experiential, national, and well-known regional tenants in some of Westchester County’s best centers including: Cortlandt Crossing

George Comfort & Sons signs five leases at Kingsbrook office park - including a five-year, 26,212 s/f lease to Kyndryl, Inc.

Rye Brook, NY George Comfort & Sons negotiated five lease agreements totaling over 83,000 s/f at Kingsbrook, the firm’s office complex. In January, George Comfort & Sons signed a 10-year agreement with Regus

New law affecting tax assessment challenges for Payments in Lieu of Taxes (PILOTs) - by John Gordon and Nicole Forchelli

At the end of 2022, New York State passed legislation requiring a 45-day notice prior to filing a tax assessment challenge for any properties which are subject to an agreement to make Payments in Lieu of Taxes (PILOTs).

Rosewood Realty Group closes $2.2 billion in sales in 2022

Manhattan, NY Rosewood Realty Group closed $2.2 billion in total multifamily deals for 2022. While pre-pandemic Rosewood’s sales were heavily New York City centric, Rosewood’s founder and CEO Aaron Jungreis led his