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BANKS: Making Our Voices Heard for the Betterment of New York City
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Last week, I had the great privilege of standing with more than 100 REBNY members who attended a public hearing on commercial rent control legislation.
Debt & Equity
Broadtree locked and loaded with $300M revolver
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Broadtree Residential, a private real estate investment trust managed by Broadstone Real Estate, has expanded its senior secured revolving line of credit
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Commercial rent control would deal catastrophic blow to NYC
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We are vehemently opposed to Commercial Rent Control legislation pending before the City Council which will do nothing to solve the underlying issues behind
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City Hall dedicates $180M for Long Island City infrastructure
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The mayor’s office has signed off on a $180 million dollar spending plan in Long Island City that will be used to build schools, fix roads and build up
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Sapir signs Canon as direct tenant at 261 Madison
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The Sapir Organization has leased 25,000 s/f to Canon as a direct tenant at 261 Madison Avenue. Canon signed a six-year lease with a five-year renewal
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Mcsam secures $76M funding for new NoMad hotel
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The Mcsam hotel group secured $76 million in construction funding to build a 21-story boutique hotel at 292 Fifth Avenue in NoMad. The financing, provided
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Despite a national decline, New York home values remain sky high
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Good news for those looking to buy a home as down payments decline throughout the country. The average New Yorker, however, still has to scrape together
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ASB sells 400 Madison to Korean bank for $194M
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ASB Real Estate Investments has sold 400 Madison Avenue to a Korean financial services firm for $194.5 million dollars. Daishin Securities, an investment
Construction & Design
Supreme Court ruling secures J-51 tax breaks for mod rehabs
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The state Supreme Court has protected the right for rent-stabilized landlords to get tax benefits in exchange for capital improvements, regardless of their
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Developer receives $5.1M loan for 900 Grand Street in Williamsburg
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Eastern Union Funding has secured a $5.1 million acquisition loan on behalf of a Brooklyn-based investor to purchase 900 Grand Street, a 22,600 s/f mixed-use
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Cushman & Wakefield reports profitable 2010
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Glen Rufrano, Cushman & Wakefield By Daniel Geiger Cushman & Wakefield reported that it had net income of $25.7 million in 2010.
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Set redesign is the big story at local news station
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By Jonathan Pappas NY1 News, the City’s most-watched local news network, started the New Year with a fresh new interior. Set designers, construction workers