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COVID costs New York $1.6B in real estate tax
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The Real Estate Board of New York (REBNY) today reported that year-to-date investment and residential sales totaled $40.3 billion, representing a 49 percent
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Kent Swig lights world’s largest menorah
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In celebration of Chanukah, Kent M. Swig, president of Swig Equities, joined Rabbi Shmuel Butman, of the Lubavitch Youth Organization, in lighting the
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Camber, PRC open affordable South Bronx property
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Property Resources Corporation and Camber Property Group announced the official opening of the Tiffany Street Apartments, located at 975 Tiffany Street
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City seeking developers for 2-acre Staten Island waterfront development
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The city has issued an RFP seeking developers for a two-acre affordable housing project on Staten Island’s north shore. Stapleton Site A is a vacant lot
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$28M Carnegie Hill penthouse sold
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A triplex penthouse at the top of 1228 Madison Avenue has been sold. According to CBSK Ironstate, the partnership of CB Developers, SK Development, and
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Boxing gym EverybodyFights takes 7,000 s/f at Eretz’s 295 Madison
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Boxing gym EverybodyFights is opening at Eretz Group’s 295 Madison Avenue. EverybodyFights, which was started by George Foreman III, the son of former
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Alexandria strikes $450M life science deal with Clarion
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Alexandria Real Estate Equities has formed a Joint Venture with Clarion Partners on a 322,858 s/f life science campus in Seattle. Clarion has acquired
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Alex Rodriguez, Adi Chugh join $650M Hilton hotel venture
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Baseball superstar-turned real estate investor Alex Rodriguez and New York finance veteran Adi Chugh are joining a $650 million fund targeting hotel opportunities
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Levin bags $30M mortgage for shopping center
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Cronheim Mortgage has arranged $30 million in permanent financing for Post Road Plaza, a 257,593 s/f regional shopping center located in the Village of
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Abandoned church takes one more step towards becoming Children’s Museum
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The Children’s Museum of Manhattan is pressing ahead with its transformation of an abandoned church on Central Park West into its new home.
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NYCHA trades trash compactor for 171 affordable apartments
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Peter Magistro’s Bronx Pro Group has closed on the latest deal by the New York City Housing Authority to have private developers build affordable homes on its land.
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Half of NYC landlords losing money, says CHIP
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Half of New York City’s landlords are losing money as the coronavirus crisis drags into its ninth month and tenants continue to fall behind on their rent.