Spinola: Real estate has earned its place at political table
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[7:05 am, December 17, 2014 | No Comment | ]

With taxes from revenue-generating properties providing enough money to pay New York’s teachers, police officers, fire fighters, sanitation workers and corrections officers for a year, the city’s real estate industry is its most powerful sector.

And it’s most influential group is braced to harness that power to build a better New York.

Speaking before a group of real estate executives, REBNY chairman Steven Spionla said, “Before, state legislators would ask us – What right do you have to argue these issues? Well, 54 percent of the entire city’s budget comes from the real estate industry. Why are we involved? Because without income-producing properties, we would have fewer police officers, teachers and public servants. We, as an industry, want to grow those numbers, get involved in big projects and create more jobs.”

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Brokers Weekly »

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[12:50 pm, December 19, 2014 | No Comment | ]
Old is new again at Queens co-op

By Konrad Putzier
A studio apartment in this tree-lined co-op building goes for $192,000, and a subway ride to Grand Central takes 22 minutes door-to-door.
The only caveat: it’s in New York’s third-coolest borough, that part of the city where you can go for blocks without finding a single artisanal coffee shop and beards are still a sign of religious affiliation.
Developer Myles Horn, of Printing House fame, is betting that a growing number of apartment hunters will turn to Queens as prices in Manhattan and Brooklyn become increasingly unaffordable.
“It’s a place that’s …

Brokers Weekly »

By
[9:00 am, December 19, 2014 | No Comment | ]

● GRADE
Hamptons homes unveiled
GRADE has unveiled designs for their latest luxury homes that Bespoke Real Estate is marketing in the Hamptons.
The properties include 285, 287, and 289 Parsonage Lane in Sagaponack South as well as 20 and 24 Gin Lane in Southampton. The portfolio of luxury homes is by Hamptons developer Jay Bialsky.
Bespoke co-founder Zachary Vichinsky, said, “The homes represent the best of the best, in the best locations in our market here in the Hamptons. It’s a collaboration of really talented people behind the projects.
“GRADE is on the cutting …

Photo Gallery »

By
[2:03 pm, December 18, 2014 | No Comment | ]

Photos by Steve Friedman
Hundreds of guests gathered at Espace on Manhattan’s West Side for The Moinian Group’s 2014 holiday party – just steps from Moinian’s 1,174-unit luxury residential development, 605 West 42nd Street. Attendees included top executives in the real estate industry – Joseph Moinian, himself, his brother, Morris Moinian, Principal and Founder of Fortuna Realty Group, and Jay Badame, President and COO of New York, New Jersey and Pennsylvania for Tishman Construction – as well as top brokers, including Bruce Mosler, Chairman of Global Brokerage of Cushman & Wakefield, …

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By
[1:17 pm, December 18, 2014 | No Comment | ]

Photos by Pearl Perkins
Professional Women in Construction (PWC) Executive Director Lenore Janis hosted the organization’s 35th anniversary in 2015 at the organization’s annual black tie holiday gala at the Yale Club. The event paid tribute to a trio of honored guests; Caroline Weiss, associate principal, Weidlinger Associates, Inc; Jeannie Kwon, chief of staff, MTA Capital Construction (MTACC; Lillian Valenti, chief procurement & contracting officer, Port Authority of NY & NJ (PANYNJ).

Deals & Dealmakers »

[7:00 am, December 18, 2014 | No Comment | ]

Building and Land Technology (BLT), developer of Harbor Point, announced several advancements in conjunction with its Harbor Point Gateway Garage, the state-of-the-art parking facility that opened in May at the Stamford Transportation Center.
The first, the opening of a pedestrian bridge spanning Washington Boulevard between Gateway and the train platform, provides multiple benefits for commuters using the Stamford Transportation Center. The bridge was financed in a partnership between BLT and the Connecticut Department of Transportation (CONNDOT).
It promises to both reduce traffic congestion and separate pedestrians from automobile traffic, while providing …

Deals & Dealmakers »

[7:00 am, December 18, 2014 | No Comment | ]
Transwestern tapped to lease business park

Transwestern’s New Jersey office has been selected as the exclusive leasing agent for a four-building business park on Princess Road in Lawrence Township, New Jersey.
Transwestern managing director Jeffrey Furey will lease the 125,000 s/f complex on behalf of its owner, TMC Properties LLC.
Furey, who recently joined Transwestern, has been the longtime leasing agent for the properties at 9, 11, 15 and 17 Princess Road, where his efforts have resulted in a nearly 10 percent decrease in vacancy.
“Jeff has proven to be one of the most successful commercial brokerage professionals in …

Deals & Dealmakers »

[7:00 am, December 18, 2014 | No Comment | ]

Abramson Brothers Incorporated recently brokered a 17,266 s/f deal for Jay Suites at 315 Madison Avenue.
Alan and Adam Abramson of Abramson Brothers represented the landlord, while Sean Black of Jones Lang LaSalle represented the tenant.
Jay Suites will be leasing 9,961 s/f on the third floor and 7,305 s/f on the fourth floor, totaling 17,266 s/f, for a 13-year term.
“We are very excited to have Jay Suites in the building,” said Adam Abramson, vice president and principal of Abramson Brothers Inc.
“We were impressed with their existing locations and believe the …

Deals & Dealmakers »

[7:00 am, December 18, 2014 | No Comment | ]

CBRE Capital Markets’ Debt & Structured Finance team has secured $151 million in financing on behalf of Harbor Group International of Norfolk, Virginia, for the acquisition of The England Group Portfolio, a 2,368-unit multifamily portfolio consisting of nine institutional-quality assets, in some of the most sought-after submarkets in the Dallas/Fort Worth and Houston areas.
A total of nine loans were provided in three separate closings. Freddie Mac provided seven new mortgages, each with a seven-year term and a floating interest rate.
In addition, Freddie Mac provided two supplemental loans on …

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