News: Spotlight Content

September

Dayan and Ben-Dayan of Winoker rep. DNT Enterprises in $2.9m sale; Segal of NKF and Miller of Brown Harris Stevens rep. PADAM, LLC, owner Fu of Eastern Consolidated brokers $8m sale of two-building, mixed-use property; Feinstein, Esq., acts on behalf of seller, Edro Realty CPC and HPD provide $4.7m construction loan for rehab of three buildings: 2516 Newkirk Ave., 561 Rogers Ave., 2506 Albermarle Rd. DHCR and Albany Housing Authority complete $16 million renovation project for 128-unit Creighton Storey Homes in Albany's South End Jungreis of Rosewood Realty completes Brooklyn multifamily portfolio sale for $35.3 million; 324 apartments and four commercial spaces Vigliotti and Guarino of Extreme Realty sell 698 10th Ave. for $7.25m; 424 East 10th St. sale by Guarino and Italia of Extreme-$3.55m Ratner of Forest City Ratner closes financing for 335,000 s/f bldg.-$200m; project designed by Costas Kondylis, striving for LEED certification Vaghefi, Morris, Rockett and Beneville of Jones Lang LaSalle's Multifamily Capital Markets team close $150.35m sale-The Wimbledon Pyramid completes three sales: Judelsohn of Pyramid handles $3.3m; Seider and Fetzer closes on 3.45 acres; Snow and Conley rep. seller for $312,000 Blumenfeld Development Group unveils 140,000 s/f Lake Grove Commons; Schuster of Ripco completes two leases totaling 113,000 s/f Holliday Fenoglio Fowler arranges $613.6m construction loan for new Manhattan project; part of 52-acre Riverside South developed by Extell Dev. Core Development Group develops LUX74; the 12-residence building designed by ADT Arch. and Design, Corcoran Grp. is sales agent Shelter Rock Builders begins construction of 36-unit Plaza 21 in Queens; team includes Stellar Dev., Expertise Rlty., Impact Concrete & Control Insp. O'Brien of M.C. O'Brien and Lipo of Crosstown Rlty. complete $11.15m sale of 60,000 s/f Brooklyn industrial bldg. to Nightingale Props. Shkury and team of Massey Knakal complete two sales totaling $4.15m for properties located at 228 East 125th St. and 168-170 East 112th St. Stewart, Morris and McMahon of David Cronheim Mtge. arrange $7m in financing for 153,760 s/f Rusten Corporate Park in Rampo T Square Props. brokers six leases totaling 11,390 s/f; includes 3,000 s/f medical office at 280 Central Ave. in Hartsdale by Tunnell of T Square Omni Housing Development to complete revitalization of 52-unit $12m project; CSArch. and C.K. Dennis Arch. are project architect STV and Holzman Moss Architecture complete 141,000 s/f for $62 million; project achieved bronze rating under Army's SPiRiT program Gran Kriegel Assoc. receives Merit Award from AIA New York for $15m Lighthouse Charter School gut-renovation project in the Bronx Eli and Daniel Yaghoubi of City Prime Rlty. complete $6.7m sale of mixed-use property; six-story building contains 25 apartments, four retail stores Blake and Mychaskiw of CB Richard Ellis|Buffalo broker $3.22m sale; 81,840 s/f warehouse in Albion sold to Braha Associates of N.J. Rowen of GFI Realty's Rowen Group sells $3.8 million Bronx package; Titan Capital purchased the properties as part of a reverse 1031 exchange Gourianov of Kalmon Dolgin arranges $1.85 million sale of two-story, 14,000 s/f shopping center in Brooklyn's Ridgewood neighborhood City Sports to occupy 15,612 s/f at Muss Development property; Nero of CB Richard Ellis represented Muss Dev. for the 11-year lease Levy, Friedman, Menaged and Senior of Adams & Co. broker 6,229 s/f lease; Maslin of Adams and Moussaieff of Yoral handle second lease Taconic Investment and ABR Partners top off 30,000 s/f project at 429 East 75th St.; Corcoran Wexler Heathcare Props. is exclusive sales agent IPRealty sells 2,000 s/f retail condo for $6.5 million located at 145 Greene St. in Manhattan; purchased by Aroma Espresso Bar
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Columns and Thought Leadership
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary