January 10-23, 2017

Digital Edition

Front Section

Brooklyn, NY According to Rosewood Realty Group, it has closed the sale of a five-building multifamily portfolio for $89 million, or $366 per s/f. The buildings, which collectively span 243,000 s/f, are located around Prospect Park in neighborhoods such as Kensington, Prospect Lefferts Gardens and Prospect Park South. The portfolio contains 265 apartments, most of…Read More

Brooklyn, NY The Brooklyn Navy Yard Development Corp. (BNYDC) closed on two conventional loans, totaling $62 million, to refinance outstanding debt secured through the EB-5 program. In a transaction with Sterling National Bank, the BNYDC borrowed $30.75 million for a term of 15 years. In a transaction with Symetra Life Insurance Co., the BNYDC secured…Read More

Manhattan, NY Emerald Equity Group has acquired the former “Dawnay, Day Portfolio” from Fairstead Capital and E+M Associates for $357.5 million.  The East Harlem and Manhattan portfolio is comprised of 47 buildings, totaling 712,571 s/f and 1,181 units. A team led by Ariel Property Advisors’ Victor Sozio, Shimon Shkury and Michael Tortorici represented the sellers,…Read More

Manhattan, NY ATCO Properties & Management, one of Manhattan’s preeminent owner/operators of class A commercial real estate, has purchased 240-246 West 35th St., an 18-story building in the Garment District, for $108 million. The transaction closed on December 20, 2016. Tenants at the 165,000 s/f office property include Cablevision-owned media group Newsday; fashion design Jason…Read More

New York, NY Governor Andrew Cuomo recently celebrated the on-time arrival of the Second Ave. Subway–the system’s first major expansion in more than 50 years–with the line’s inaugural ride. The new line’s first ride and celebratory party were co-hosted by MTA chairman and CEO Thomas Prendergast and attended by Second Ave. Subway and MTA workers,…Read More

New York, NY On December 7, 2016, The Bronx-Manhattan North Association of Realtors (BMNAR) celebrated their 32nd Annual Holiday Party at the Marina del Rey Caterers.  According to Christina Leigh-Stevens, BMNAR president, “Nearly 300 members, friends and real estate professionals from the New York metropolitan area attended the popular event and most brought an unwrapped…Read More

Queens, NY Meridian Capital Group arranged $13 million in ground up construction financing for the development of the Marriott Towne Place Suites hotel located in Long Island City. The two-year construction loan, provided by a local savings bank, features full-term interest-only payments and an extension option. This financing was negotiated by Meridian vice presidents, Eli…Read More

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Upcoming Events

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    January 19 @ 7:00 pm - 10:00 pm
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