News: Brokerage

Simone Development Companies signs DLP Distribution to 1,600 s/f at 66 Westchester Sq.

Bronx, NY Simone Development Companies has signed a new long-term lease with DLP Distribution for a 1,600 s/f discount appliance store at 66 Westchester Sq. The new store will be DLP’s fifth New York location.

Simone Development’s in-house leasing and legal teams represented ownership in negotiations with the tenant, which was represented by Steven Zhou from E Realty Int’l. Corp.

“DLP Distribution is a welcome addition that will add vibrancy to the Westchester Square neighborhood,” said Joanna Simone, president of leasing and property management operations at Simone Development Companies. “DLP Distribution is a perfect fit for our property’s established tenant mix including AT&T, Karibbean Krave, L’Amour Nail & Spa, and the Armed Forces Career Center. Located in one of the borough’s prime retail and transportation hubs, 63-68 Westchester Sq. is now 100% leased.”

The retail property at 63-68 Westchester Sq. is located in Westchester Sq. neighborhood, near multiple bus lines, the 6 subway line, and close to the East Tremont Ave. retail corridor, with access to the rest of the city and the tri-state area.

MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,