Category: Brokerage

Supreme Court calls real property tax foreclosure into question - by Gabriella Botticelli

August 29, 2023

A recent United States Supreme Court opinion has significant impact on New York’s Real Property Tax Law. Tyler v. Hennepin County, Minnesota, decided on May 25, 2023, ruled it unconstitutional for a taxing authority to foreclose upon and sell property based upon a failure to pay taxes without a procedure for the property owner

IREON INSIGHTS: New Jersey implements a new benchmarking law for buildings with first deadline appr...

August 29, 2023

As part of the New Jersey (NJ) Clean Energy Act, beginning October 1, 2023, buildings over 25,000 s/f are required to benchmark their building’s aggregate energy and water usage data to the NJ Board of Public Utilities (BPU) on an annual basis. Logical Buildings is certified by the NJBPU to fulfill

Cushman & Wakefield arranges $30 million refinancing for 27-01 Queens Plaza N.

August 29, 2023

Long Island City, NY Cushman & Wakefield served as the exclusive advisor to Brause Realty in the procurement of $30 million in refinancing for Brewster LIC, a 700,000 s/f office property located at 27-01 Queens Plaza North. The loan was provided by Apple Bank.

Waterman, Kesseler, Gosin, and Rosenblum of Newmark lease 22,725 s/f

August 29, 2023

Long Island City, NY Newmark has arranged a 22,725 s/f lease renewal on behalf of ownership Atlas Capital Group, LLC, at their office building, The Factory, located at 30-30 47th Ave. The tenant, Transel Elevator & Electric, Inc. (TEI Group), signed an early, 10-year lease extension

Brand Urban brings Caffè Panna to 34 Norman Ave.

August 29, 2023

Brooklyn, NY Brand Urban said that Caffè Panna, the Italian-inspired ice cream brand helmed by Hallie Meyer, will open its second location early next year, expanding to 34 Norman Ave. Caffè Panna Greenpoint is slated to open in the spring of 2024, targeting as early as

Roth of Manhattan Skyline Management leases to Madame Bonté Café

August 29, 2023

Manhattan, NY According to Manhattan Skyline Management Corp., New York City independent coffee shop Madame Bonté Café has opened at 205 East 66th St. on the Upper East Side.

Invictus Property Advisors closes sale of “Blue Flame” buildings

August 29, 2023

Manhattan, NY Invictus Property Advisors negotiated the closing of the “Blue Flame” buildings adjacent to the Columbia University Expansion Project at 523-525 West 125th St. in Manhattanville. The two three-story buildings were owned by the same partnership for over 50 years.

Axiom Capital funds $22 million refinance <br> loan for mixed-use multifamily

Axiom Capital funds $22 million refinance
loan for mixed-use multifamily

August 29, 2023

Manhattan, NY Axiom Capital has structured and arranged a $22 million permanent loan (five years, fixed rate, three years I/O, five years ext. opt., non-recourse) for the refinance of a mixed-use multifamily property in the Financial District.

Wells Fargo closes $780.3 million for affordable housing projects

August 29, 2023

Bronx, NY Marking the largest first-half cycle in Wells Fargo history, Wells Fargo’s Community Lending and Investment (CLI) group closed $780.3 million in financing for five New York City-area affordable housing projects in the month of June. See below for a summary of each project

Oster, Galligan and Garvin of JLL Capital Markets sell 175-177 East 3rd St. for $10.8 million to Loc...

August 29, 2023

Manhattan, NY JLL Capital Markets brokered the sale of 175-177 East 3rd St., two contiguous, five-story, walk-up buildings located between avenues A and B in the East Village neighborhood. The primarily free-market properties were sold for $10.8 million, or $802 per s/f.

Open Access celebrates 85% of alumni placed in community development finance or real estate in first...

August 29, 2023

Washington, DC Open Access, a 501 (c)3 organization offering paid fellowships to advance Black and Latinx leadership and representation in community development finance (CDF), has a rate of achievement in the three years since its launch: 85% of the graduates have been placed in positions

Yonkers IDA votes final and prelim approvals for two projects

August 29, 2023

Yonkers, NY The Yonkers Industrial Development Agency (YIDA) has voted final and preliminary approvals of financial incentives for residential projects representing a total private investment of $22.4 million. The developments are projected to create 35 construction jobs