Eastern Union secures $78.575 million loan to refinance 12 property portfolio

Bronx, NY Alex Jaffa, a senior loan consultant with Eastern Union, has arranged a $78.575 million loan to refinance a 1,017-unit portfolio of 12 multifamily properties consisting of 11 sites across nine New Jersey localities, along with one property in the Bronx.

Hempstead IDA gives preliminary OK for upgrade of 875 Merrick Ave.

Westbury, NY Fred Parola, CEO of the town of Hempstead Industrial Development Agency (IDA), said the agency has given preliminary approval to a package of economic development incentives that will assist a developer update a more-than-40-year-old office building.

Yim promoted to vice president at Mark Design Studios Architecture

Hicksville, NY Irene Yim was promoted to vice president of Mark Design Studios Architecture (MDS). “Irene has worked diligently over the years to help elevate MDS to the top of our field in terms of quality of design and service to our clients,” said Michael Mark, president/founder of MDS.

Forchelli Deegan Terrana promotes attorneys to partner

Uniondale, NY Forchelli Deegan Terrana LLP (FDT) promoted the following attorneys to partner effective January 1, 2023: • Lisa Casa, employment & labor

60 Guilders purchases apartment building portfolio for $143 million

Brooklyn, NY A joint venture between affiliates of 60 Guilders and Stockbridge successfully closed on the purchase of three rental apartment buildings located at 205 North 9th St., 220 North 10th St., and 225 North 9th St.for $143.35 million

REBNY to host annual event at The Glasshouse on April 20th

Manhattan, NY The Real Estate Board of New York (REBNY), New York City’s leading real estate trade association, announced that its annual event will take place this year on April 20th. Hosted

As markets remain uncertain, institutional investors are confident in real estate investments & turning to local private equity firms for maximum returns - by Joe Berko

Institutional investors, such as insurance companies and pension funds, are weighing their options in the real estate market when making key decisions about allocating investments. In today's climate of uncertainty around economic recovery rates

Will Your Buildings be Local Law 97 Compliant by 2025? - by Alexander Hochhausl

Over 70% of New York’s greenhouse gas emissions come from buildings. In New York City, those emissions come from 1 million buildings burning fossil fuels for heating, cooling, and power

New Report: Fines on NYC property owners for buildings emissions could exceed $900 million each year by 2030

A new study by Level Infrastructure, a leading engineering consulting firm, found that thousands of properties are on track to be out of compliance with New York City’s buildings emissions law by 2030—even if they make significant investments to improve

Yonkers IDA continues with another active year voting final and preliminary approval of financial incentives for developments representing $277 million in private investment

Yonkers, NY The Yonkers Industrial Development Agency (IDA) reported another active year for 2022 voting final and preliminary approval of financial incentives to residential and commercial projects representing a total private