Broadway Storage LLC has signed a new lease for 140,000 s/f of space in midtown Manhattan representing the newest self storage project to be built in New York City.
Located at 501 Tenth Ave at 38th Street and Tenth Avenue, in a building known as the DHL Building, Broadway Storage has committed to providing the first newly built “state of the art” self storage facility in Manhattan in over eight years.
Broadway Storage LLC principals Steve Schwartz and Jack Guttman have developed several million square feet of self storage space throughout the …

By Liana Grey

Last month, the real estate lawyer Adam Leitman Bailey received an award from the National Association of Real Estate Editors for his best-selling book, Finding the Uncommon Deal: A Top Lawyer Explains How to Buy A Home for the Lowest Possible Price.

Much of the how-to guide, which took Bailey six years to write and covers everything from short sales to distressed properties, was inspired by questions from clients, many of whom are property owners. “I answer their questions in the book,” he said. “A lot of the book was written on my Blackberry.” Last May, the 221-page guide climbed to the top spot on the New York Times best-seller list.

Dennis Riese, President of the Riese Organization, announces the recent lease transaction with Crocs, world leader in innovative casual footwear for men, women and children, at 152 West 34th Street. Serving as Crocs fourth location in New York City, the 13,600 s/f space includes 40 feet of frontage.
Celebrating its 10th anniversary in 2012, Crocs offers several distinct shoe collections with more than 300 four-season footwear styles. Since its inception in 2002, Crocs has sold more than 200 million pairs of shoes in more than 90 countries around the world. The …

Metropolitan Realty Associates (MRA) and its long-time joint-venture equity partner, Angelo, Gordon & Co., LP (Angelo, Gordon), have listed the award-winning Garden City Square complex at 711 Stewart Ave. in Garden City for sale, it was announced today. The complex, comprising approximately 176,000 square feet of retail space and 117,000 square feet of office and medical office space, has been subdivided into three separate condominium units.

By Al Barbarino

A New York State Supreme Court Grand Jury has issued a report calling for reforms that would prevent property owners from abusing city property tax laws.

Current laws, regulations, and systems are not adequate to prevent and deter costly false tax liability filings, which occur “with unacceptable frequency,” the Grand Jury found.

By Al Barbarino

News that Facebook founder Mark Zuckerberg, 28, obtained an obscenely low mortgage rate of 1.05 percent on his $6 million Palo Alto pad left everyday homeowners with their mouths ajar.

Why, they asked, can a billionaire obtain a lower rate than everyday Jack and Jill can on their mortgages? Others asked why a billionaire — nearly 16 times over — would even need a mortgage on his home.

By Al Barbarino

Mayor Michael Bloomberg has filed a lawsuit against the City Council over the validity of the recently enacted Prevailing and Living Wage Laws.

The local laws would require certain industrial companies, developers and landlords who either receive city funds or rent office space to the city to pay wages that are above the state’s minimum wage. 

Bloomberg vetoed the bills in April, but the Council over-rode his veto by a vote of 46-5 in June.

Eight leaders in the field of energy conservation were honored by the New York Energy Consumers Council last week.

They were presented with an Energy New York Award (ENYA) during an event at the Tribeca Rooftop.

By Al Barbarino

Cushman & Wakefield’s Equity, Debt & Structured Finance group has arranged a $100 million financing for an affiliate of Thor Equities at 590 Fifth Avenue in Midtown Manhattan.

The 19-story, 100,000 s/f retail and office building is situated within the highly coveted Fifth Avenue retail corridor, on the west side of Fifth Avenue between 47th and 48th Streets, and just one block south of Rockefeller Center.

Meridian Capital Group, LLC, a national real estate finance adviser and intermediary, recently moved its office in Iselin, NJ to a newly built-out 10,500 s/f space at 517 Route 1 South, an office building and hotel and conference center.
Recent transactions by Meridian’s Iselin office include a $32.9 million loan for the 93-unit Berkshire at the Shipyard multifamily property in Hoboken, NJ, as well as a $27.2 million loan for the 241-unit Steward’s Crossing multifamily property in Princeton, NJ.
“We are delighted with our move to larger and updated space. …