March 21 - April 3, 2017

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After years of voluminous activity, Bronx real estate development sales leveled off last year, primarily a result of the expiration of a popular New York State tax incentive. However, investor demand remains strong and with a reinstatement of the tax program in the pipeline, the outer-borough is positioned for an uptick in development. The absence…Read More

Below I will outline some of the most recent happenings and transactions in the Forest Hills and Rego Park commercial/investment property market: • 71-53, 55 & 57 Austin St. in Forest Hills: Plans have been filed to contstruct a new 27,878 s/f, seven-story (plus cellar), elevator, mixed-use building on this 4,965 s/f lot. The building…Read More

Manhattan, NY Eastern Consolidated’s Capital Advisory Division has arranged a debt and equity package totaling $120 million to finance the construction of 25-story, 520-key Hyatt Place Hotel at 350 West 39th St. for the Mcsam Hotel Group led by Sam Chang. Adam Hakim, managing director, and James Murad, director, handled the transaction, which includes a…Read More

Suffern, NY Eight major acquisitions, strong performances across the existing portfolio and continued corporate expansion highlighted a record-setting year for CastleLanterra Properties (CLP) in 2016. The privately-owned real estate company acquired multifamily residential properties totaling 2,594 units and a combined purchase price of  $382 million. The year also marked CLP’s entry into three new markets:…Read More

New York, NY GFI Realty Services, LLC has launched a Net Lease Team (NLT) that will specialize in arranging the sale of  triple-net-lease (NNN) assets  for real estate investors. “As a full-service firm offering clients a comprehensive slate of brokerage services, we recognize the growing need for net-lease advisory services at this stage in the…Read More

Brooklyn, NY According to Ingram & Hebron, Sunset Park/Industry City has landed another fashion tenant: Clara Sunwoo has signed a 10-year lease to relocate from the Garment District to 34 34th St., Building #6 in Industry City. The fashion company, who opened its doors in 1997, is doubling in size from 6,000 s/f to 14,359…Read More

Great Neck, NY Joel Gorjian has established Uber Capital Group, LLC a commercial real estate financial advisory and mortgage origination firm. Uber Capital is based in Great Neck on Long Island and operates nationally, with the main focus on the Northeast, Southeast, and Midwest markets. Uber assists property investors in planning, negotiating, and sourcing debt and equity…Read More

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