The recent "One LIC" rezoning proposal—a sweeping land-use change aimed at boosting housing production in Long Island City—has sparked growing concern among property owners, as all upzoned sites will be subject to Mandatory Inclusionary Housing (MIH). While the initiative
Queens, NY Baron Property Group (BPG) and LargaVista Companies secured $388.5 million in construction financing for 30-25 Queens Blvd., a 46-story mixed-use residential skyscraper being developed in Long Island City. The development will bring over 500 rental
Manhattan, NY ERG Commercial Real Estate arranged a $3 million refinance of 79 Ave. A, a four- story mixed-use property located on Ave. A between E Fifth and E Sixth St. in Alphabet City on the city’s Lower East Side. The 5,443 s/f building is equipped with six apartments and two commercial
Centereach, NY Christopher Mayor and Lawrence Densen of Island Associates brokered a sale of a 3,500 s/f retail building at 2449 Middle Country Rd. The building, formerly occupied by the Bridal Suite, was sold to The Hindu Temple and Cultural Center of Long Island.
Brooklyn, NY Fetner Properties, in partnership with MCB Real Estate and Farallon Capital Management, made known the assumption of a ground lease and the acquisition of 240 Willoughby St., a residential rental building, offering 463 units, 147 of which
Brooklyn, NY Landair Property Advisors negotiated the sale of a two-story multifamily building at 365 Rutland Rd. in Prospect Lefferts Gardens for $2.1 million. The 3,712 s/f building, with four units, was built in 1931. The seller, Deborah Diaz and Anise Roberts,
The liability of the person appointed as a manager of a New York limited liability company is one of the more fraught and confusing areas of New York’s LLC law. First, the basics: LLC managers are liable to members of the LLC for their fraud and for breach of any
Manhattan, NY Robert Aaron of Horvath & Tremblay completed the sale of 29 Essex St., a 10-unit building, for $2.76 million. Situated in the Lower East Side neighborhood, 29 Essex St. is a five-story brick mixed-use investment property. The building contains two commercial units on the ground floor and eight,
Queens, NY Adirondack Capital Partners arranged the $16 million sale of 11-40 Borden Ave., a two-story, 36,000 s/f industrial property located in Long Island City. Chad Sinsheimer, partner at Adirondack Capital Partners, served as the exclusive broker to both the buyer and the seller in the all-cash transaction. The property was acquired by Terreno Realty
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
