October 18 - 31, 2016

Digital Edition

New York City

Queens, NY Continuing the development boom in Jamaica, the Greater Jamaica Development Corp. (GJDC) is seeking a developer to create a 500,000 s/f project with ground-floor retail and at least 250 mixed-income residential units, a portion of which will be dedicated for artists. The GJDC-owned site, an open-air parking lot at 168th St. and 90th…Read More

Queens, NY Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has completed the sale of The Roosevelt, a mixed-use building with 31 residential units, 10 commercial tax lots and a parking garage in the Jackson Heights neighborhood. The sales price is $29.35 million. “This…Read More

Manhattan, NY The Kaufman Organization has secured a 5,909 s/f, five-year lease for MMR Research Worldwide, a global market research agency, within its Madison Sq. Portfolio at 15 West 27th St. (15W27). This is the first lease signing within the Kaufman portfolio since its recent multi-million dollar recapitalization with China Orient. “It is an exciting time for the Madison Sq. Portfolio, and we are pleased…Read More

It is no longer, “The best kept secret in real estate,” according to Jeffrey Shouse, national director of self storage appraisal for Colliers International. In his latest industry newsletter, Shouse states“ Comparing overall returns on a five and ten-year basis, self storage has outperformed apts, retail, industrial & office investments…” While self storage remains a…Read More

Manhattan, NY Eastern Consolidated has arranged the $90 million sale of a six-story, 82,500 s/f corner loft building at 13-17 Laight St., aka 52-58 Varick St. and 20-24 St. John’s Ln., in TriBeCa. The building was previously used as the main venue for the Tribeca Film Festival. Brian Ezratty, vice chairman and principal of Eastern…Read More

A real estate investor, if fortunate comes to a point where they want to sell a property at a profit. Many investors know they may be able to utilize Internal Revenue Code Section 1031 and exchange their property for a replacement property, in turn deferring the capital gains. This has been one of the cornerstones of real estate investing because the deductions taken to make income tax deferred while owning a…Read More

Property owners are gradually cutting costs, wherever possible, to mitigate flat or declining income and the expenses they can’t control (e.g. real estate taxes). While that is an unsurprising approach, owners have started to cut costs where they should not. By every October 24th, in New York City, unresolved administrative real estate tax assessment protests…Read More

It is no secret that sales of development sites in Manhattan below 96th St. have slowed significantly in the first half of 2016 – a continuation of the cautious trend seen in 2015 – adding to broader concerns over the health of the borough’s development market. New York City saw $1.6 billion in development sites…Read More

Brooklyn, NY A family-owned, four-building site in Gowanus is offered for a 99-year ground lease to developers, and a team led by James Dario of Kalmon Dolgin Affiliates has been retained by ownership to handle the agency. The four-building, 20,000 s/f development site is in the Gowanus neighborhood, and features over 125-feet of frontage along Second Ave. and…Read More

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Upcoming Events

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    October 19 - October 22
  2. Construction Industry Breakfast Forum

    October 25 @ 8:00 am - 11:00 am
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