Category: Brokerage
Pyramid Management secures loan
extension for Sangertown Square
February 11, 2025
New Hartford, NY Pyramid Management Group has secured a three-year extension for the loan on Sangertown Square. This extension will allow Pyramid to continue to reinvest in the property and ensure its vitality, vibrancy and sustained success in Central New York and the Mohawk Valley.
SL Green Realty inks 54,250 s/f lease with Hartree Partners at 1185 Ave. of the Americas
February 11, 2025
Manhattan, NY SL Green Realty Corp. has signed a new 12-year, 54,250 s/f lease with Hartree Partners covering the entire 24th and 25th floors at 1185 Ave. of the Americas. “We’re excited that Hartree Partners has elected to locate its headquarters at 1185 Ave. of the Americas,” said Steven Durels,
Cronheim Hotel secures $40
million refinance for Chelsean New York
February 11, 2025
Manhattan, NY Beau Williams and Drew Gilligan of Cronheim Hotel Capital (CHC) have secured a $40 million permanent loan on behalf of the Lam Group to refinance the existing debt and capitalize a modernization refresh on the 158-room Chelsean New York Hotel.
BHI serves as senior lender for $99 million loan to renovate 95 Madison Ave.
February 11, 2025
Manhattan, NY BHI, the U.S branch of Bank Hapoalim, B.M. will serve as the senior lender for a $99 million construction loan to renovate the 17-story office building at 95 Madison Ave., also known as The Emmett Building, for residential use. Under the terms,
S3 Capital originates $79 million construction
loan for 138-unit 250 W 49th St.
February 11, 2025
Manhattan, NY S3 Capital originated a $79 million construction loan for the acquisition and development of a premier 28-story, mixed-use rental building at 250 W 49th St., located at the corner of 8th Ave. and 49th St. in Midtown West. This marks S3’s fourth $50 million+ loan originated
Marx Realty signs 22,000 s/f in
leases at 10 Grand Central
February 11, 2025
Manhattan, NY Marx Realty shared that telemedicine giant Teladoc Health has expanded and extended its lease at 10 Grand Central. The firm will more than double its footprint at the repositioned office tower taking a total of 15,000 s/f in a 10-year deal as it
Swon and Anton of Marcus & Millichap broker sale of two hotel portfolio
February 11, 2025
Syracuse, NY Marcus & Millichap negotiated the sale of a two-property hotel portfolio in Upstate New York. “I am pleased to have successfully transacted this nuanced deal,” said Jerry Swon. “Both hotels will be renovated, with the Staybridge continuing to operate
Perlman of Largo closes multi-family construction loan
February 11, 2025
East Aurora, NY Ned Perlman, vice president of upstate originations at Largo Real Estate Advisors, Inc. negotiated the closing of a $1 million multifamily construction loan. The planned units will be within walking distance to grocery stores and the attractions of Main St.
Appraisal Institute’s Upstate courses scheduled in February and May 2025
February 11, 2025
Rochester, NY The Upstate New York Chapter of the Appraisal Institute has two classes currently scheduled for real estate appraisers for continuing education (CE). The February 21st seminar will be the seven hour Residential & Commercial Trends in Ellicottville at the Holiday Valley Resort & Conference Center
February 2025 NYSCAR president’s message - by Robert Strell
February 11, 2025
The New York State Commercial Association of Realtors Board of Governors met on Tuesday, February 4, 2025 at the Crowne Plaza Desmond Hotel in Albany. The following officers were installed for 2025: Robert Strell, WNY, president; Mercedes Brien, Rochester, first vice president; Carolyn Vinci, WNY, second vice president;
2024 Upstate New York apartment market - by Brian Heine
February 11, 2025
Two recent high profile court cases illustrate the difficulties facing the real estate business in New York state. Robert Morgan of Rochester settled his long-running mortgage fraud case for $16.3 million and a single guilty plea while also admitting to no guilt or wrongdoing. The FBI had
Polsinellis of Compass Commercial sell
16,000 s/f retail condo for $16.5 million
February 11, 2025
Manhattan, NY Adelaide Polsinelli, vice chairman, and Trystan Polsinelli, senior executive director of Compass Commercial, negotiated the sale of a 16,000 s/f retail condo with 160 ft. of wraparound frontage located at 350 6th Ave., also known as 88 Washington Place, on the northeast corner of Sixth
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