Category: Brokerage

Rochester, NY Stantec, a leading design and engineering firm, has been honored for outstanding project achievement by the Building Commissioning Association’s (BCA) Northeast Chapter. The team’s collaboration on the fit-out of the 4th and 6th floors of the Golisano Children’s Hospital at the University of Rochester.

Rochester, NY According to the Upstate New York Chapter of the Appraisal Institute, William Beyerbach, MAI, SRA, is the 2019 president. Beyerbach is owner of Appraisal & Consulting Services.

Albany, NY According to governor Andrew Cuomo, $3.6 million in infrastructure funding has been awarded to support safety enhancements, modernization of facilities, operational improvements and local business development at four airports in the Capital Region. The funding is part of a $23.6 million investment in 31 airports statewide.

Mt Sinai, NY According to Frederick Braun III, chairman of the town of Brookhaven Industrial Development Agency (IDA), the agency has closed on a package of economic incentives for two senior living projects that will soon be constructed. The incentive agreement will assist The Engel Burman Group to develop a 120-unit Bristal Assisted Living facility and a 225-unit rental complex, including a clubhouse, for people age 55 and over on 24 acres. 

Melville, NY A panel of real estate developers, all of whom recently made acquisitions or are launching new projects on Long Island, expressed optimism at a January 30th meeting of  the Commercial Industrial Brokers Society of Long Island (CIBS), one of the region’s largest commercial broker organizations.

Briarcliff Manor, NY The grand opening of the Welcome Center at The Club at Briarcliff Manor, a new senior living community featuring independent living apartments, best-in-class assisted living and award-winning memory care for those 55 and older, was held February 16th and 17th.

One of the hot-button political issues affecting New York City real estate is the proposal to eliminate landlords’ ability to raise rents on rent-regulated units in buildings that  have received major capital improvements (MCIs). The MCI program incentivizes landlords to improve major building components that enhance quality of life for tenants and recoup…

Brooklyn, NY Bestreich Realty Group has completed the following: 351 Grove St.: A three-story multifamily building located in the Bushwick section sold for $1.5 million. This 6-unit property is built 25 ft. x 65 ft. with a 5 ft. x 12 ft. extension, offering 4,905 s/f.

Bronx, NY According to Westbridge Realty Group, The Lightstone Group, a privately-held real estate investment company, has purchased a six-story elevator mixed-use building in the Concourse neighborhood for $23.8 million.

In a 1031 tax deferred exchange, the same tax owner that sells the relinquished property should  acquire the replacement property. This issue arises frequently in the Northeast as many times the taxpayer does not wish to have the same person or entity on the deed to the replacement property or is not sure who that person or entity should be…