The New York Building Congress named Dr. Raymond Daddazio, president and CEO of Weidlinger Associates, Inc., a recipient of its 2011 Industry Recognition Award.

One of four honorees, Daddazio was cited for his dedication to “advancing the innovative practice of engineering within the industry, profession, and within Weidlinger.”

The award also celebrates his “strategic and operational leadership across business lines and geographies” since assuming the role of Weidlinger president… Read more...

Mall at Bay Plaza rendering

Prestige Properties announced that it will develop The Mall at Bay Plaza, a new $270 million, 780,000 s/f enclosed fashion mall anchored by a new Macy’s combined with an existing JC Penney.

The Mall is expected to create more than 2,000 construction jobs and more than 1,700 permanent jobs… Read more...

Hempstead downtown mixed-use transit oriented development

A $2 billion project that could create upto 10,000 construction jobs has been designated a “Project of Regional Significance” by Long Island Regional Planning Council (LIRPC).

Hempstead downtown mixed-use transit oriented development is a public-private partnership between Renaissance Downtowns-Urban America (RDUA) and the Village of Hempstead.

“Projects of Regional Significance”… Read more...

Manhattan landlord Maurice Laboz’ Regal Real Estate has sold close to $40 million worth of real estate in a series of deals with The Lam Group.

While better known for its work in hotel development, it is expected that Lam will maintain the properties scattered across Manhattan as apartments and convert others to luxury homes. “These are core investment properties, they just have great rates of return so you can sit there rent and manage them,” said Christopher Okada, president and owner of Okada and Company LLC, who represented The Lam Group. Read more...

A lawyer from the white shoe law firm Crowell & Moring is facing extradition from Hong Kong amidst allegations that he embezzled $2.5 million from a New York real estate investor.

Douglas R. Arntsen, a counsel at the global firm, resigned from Crowell & Moring on September 12, a day before the Manhattan District Attorney’s office advised the firm that he was under investigation for the misappropriation of client funds.

According to reports, Arntsen was involved in a duplicitous scheme that saw him shuttle hundreds of thousands of dollars around Manhattan in a suitcase. Read more...

Robert Nelson’s Global One Real Estate Fund has purchased the interests of Lafayette Boynton, a four-building, 972-unit rent stabilized apartment complex in the Soundview section of the Bronx, from AREA Property Partners for $51.5 million.
This acquisition builds on AREA’s previous efforts to ensure the long-term quality and viability of affordable housing in the Bronx.
The new owners will continue the ongoing improvements of Lafayette Boynton through a $14 million program.
“Global One’s planned renovations will continue AREA’s efforts to preserve affordability and provide high-quality housing in the neighborhood,” commented James Simmons, III, partner and Head of U.S. Emerging Markets with AREA. Read more...

Work is underway on a new Karl Fischer-designed East Village rental.

The Brody//Amirian Group — which until now has focused on the Brooklyn residential market — is building the ground-up eight-story development at 316 East 3rd Street.

“We are developing a building that speaks to the community, with rents and finishes commensurate with the downtown demographic and that will work for students, artists and local residents,” said Eric… Read more...

DOUGLAS HEDDINGS

Douglas Heddings, founder and president of The Heddings Property Group LLC has been appointed director of the board of the Manhattan Association of Realtors.

“Doug is a well-respected member of MANAR and a leader in the real estate community, which is why he is an ideal choice to… Read more...

A man of humble beginnings, as a child Anthony Lolli dreamed of bigger things.

ANTONY LOLLI

It was a promise that he made to his mother of a mansion to live in that set him on course to becoming the driving force behind one of the fastest growing real estate franchise companies in the country.

In just over two years, Rapid Realty — a rental based firm — has grown from a single office in Park Slope, to 51 franchise locations in all five boroughs.

The company recently opened its first location in New Jersey and has a second planned by the end of the year. By 2013, an ambitious Lolli says he will have 50 more locations across the nation in key markets like Los Angeles, Chicago, and Boston. Read more...

Olinda Turturro — a member of the Turturro acting family otherwise know as the Barrymores of Brooklyn — has joined the ranks of A.C. Lawrence.

She will serve as recruitment director for the growing bokerage led by Larry Friedman.

Turturro — sister to Sopranos star Aida and cousin to John — has worked in brokerage for 30 years while taking acting gigs in movies like Ballad of Little Jo with Oscar Winner, Ian McKellan. Read more...