The combination of the rent laws, inflation and interest rates have put many investors in a stalemate and forced others to make some tough decisions about selling their New York City assets. For some, it’s landlord fatigue with the regulations, rising operating costs and a decreasing bottom line.
Manhattan, NY JLL has arranged an 18,000 s/f lease for growing private equity firm Incline Equity Partners at 101 Park Ave., the 49-story office tower located at the corner of 40
th St. and Park Ave. in Midtown. Incline Equity Partners will nearly double its footprint
Manhattan, NY According to Savanna, a real estate investment manager, owner/operator and developer, there is a new 25,000 s/f long-term lease at 48 West 25
th St. with MediaCo Holding, Inc. (MediaCo), owner of New York radio stations HOT 97 and WBLS.
Manhattan, NY Colliers has arranged a 40,000 s/f lease for CompletePlayground, a nonprofit family activity center that offers programming for all children, including kids with special needs, at 30 Broad St.
Manhattan, NY Ashkenazy Acquisition Corp. (AAC), arranged a year-end refinancing of $20.6 million for The Chatham retail condo. The 25,673 s/f located on Third Ave., received a 10-year, fixed-rate loan
Manhattan, NY The NY Self Storage Association (NYSSA) held its annual “Investment Forum” event in New York City, attracting the top self-storage companies’ real estate representatives who virtually all agreed that the industry would see a continuation of moderately rising
Huntington, NY According to Federal Realty Investment Trust (FRT) The Container Store will join REI and Whole Foods Market at Huntington Shopping Center as part of its $75 million redevelopment. Additionally, Burger Village, Love Sac and Just Salad have signed leases for the center’s new pad site facing Rte. 110.
East Meadow, NY Jodi Hoffman, partner at Certilman Balin Adler & Hyman, LLP, has been elevated to co-chair of the firm’s real estate practice group. Managing partner Howard Stein is her co-chair.
Harlem, NY Walker & Dunlop, Inc. structured $120 million in financing for the rehabilitation of Audubon Houses, Bethune Gardens, and Thurgood Marshall Plaza (ABM), a 557-unit, three-building portfolio. The properties built between 1962 and 1985 are in need of significant upgrades.
Ken Schirripa, an industry veteran with more than 25 years of expertise in technology, infrastructure engineering, and construction management, has
