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Articles Archive for 9 January 2013

Construction & Design »

[9 Jan 2013 | No Comment | ]

Global architecture, engineering and interior design firm, HLW International, has announced a leadership succession plan aimed at sustaining the longevity of the firm brand.
The company’s leadership team includes Susan Boyle, John Gering and Pat Kinzler. To achieve its ambitious plan, new leaders have been appointed in all HLW offices.
“We believe the best thing leaders can do for their organization is to identify future leaders and put a plan in place that will support and mentor their growth,” said Susan Boyle.
Added John Gering, “We see this transition plan as an opportunity …

Deals & Dealmakers, Featured »

[9 Jan 2013 | No Comment | ]
Tough love takes billion-dollar Dunne to the heart of every deal

Mentorship, expertise, integrity and competition are all at the core of Jeffrey Dunne’s philosophy, at home and at work. Dunne, who heads CBRE’s New York Institutional Group from the Stamford office, has closed on more than $17 billion in deals in his 27 years as a broker.

Deals & Dealmakers, Uncategorized »

[9 Jan 2013 | No Comment | ]

Jeffrey Dunne and Christopher Leonard of CBRE’s New York Institutional Group collaborated with Gene Pride of CBRE’s Private Capital Group and Mike Stone of CBRE’s Hartford office in representing Westgate HH LLC, an entity controlled by Capmark Financial Group Inc, in the sale of West Gate Town Homes in New Haven, Connecticut for $12,250,000.
The purchaser was Eagle Rock Advisors LLC, which has partnered with the UOB Group in launching UOB Eagle Rock Multifamily Property Fund LP.
West Gate Town Homes is a 135-unit townhome community on the northwest side …

Construction & Design, Featured »

[9 Jan 2013 | No Comment | ]
Property Group to build new tower

Property Group Partners has entered into a joint venture with Romanoff Equities to develop 860 Washington Street in the Meatpacking District.
The new 120,000 s/f mixed-use office and retail development will rise on a site adjacent to the elevated High Line Park and between the architecturally prominent Standard Hotel and High Line Building.
Development will start immediately and the buildign is expected to be delivered by 2015, according to Property Group Partners, an owner and developer formerly known as Louis Dreyfus Property Group.

Deals & Dealmakers »

[9 Jan 2013 | No Comment | ]

RKF has arranged the $17 million sale of a 7,580 s/f mixed-use building at 154 Spring Street in SoHo.
RKF and its Investment Sales & Advisory Services team represented Spring Sunshine Corp., the seller of the five-story property. The buyer was Tribeca Equities.
The sale is the latest in a flurry of SoHo deals as retail rents have climbed to historic levels. With nearly 40 buildings having already traded this year, including t70 Greene Street and 102 Greene Street which RKF also arranged, the SoHo market is on track to record …

Deals & Dealmakers »

[9 Jan 2013 | No Comment | ]

In anticipation of a hike in capital gains taxes next year, as well as other fiscal cliff concerns, another noteworthy transaction that raced to the finish line to close before the end of 2012 was the sale of 2410-2418 Broadway, aka 214-218 West 89th Street.
The building was acquired by Manhattan-based real estate owners Albert and Robert Gilardian of the Gilar Group for $47 million.
Aliza Avital and Patricia Garcia, with Eastern Consolidated executive managing director Alan P. Miller and Besen & Associates executive director Amit Doshi co-brokered the sale of …

Deals & Dealmakers »

[9 Jan 2013 | No Comment | ]

American Development Group, LLC, along with Langsam Property Services Corp., have closed on the land acquisition of 219 West 28th Street.
The property, a vacant lot and an existing structure valued at $42 million, according to a spokeswoman, was acquired for $38 million. The total valuation of the project will be $150 million, added the spokeswoman.
219 West 28th Street will be a new construction development project featuring a 116,000 s/f residential tower with 150 rental units, ground floor retail space and an underground automated garage from AutoMotion Parking Systems, LLC.
Developed as …

Brokers Weekly »

[9 Jan 2013 | One Comment | ]
Bizzi selling a Fifth dimension

With the exception of Lord & Taylor’s Fifth Avenue Flagship store, Manhattan’s Garment District, with its fabric wholesalers, fashion outposts and sample sale spaces, doesn’t exactly conjure up images of high-society, residential New York City.

But as the boutique manufacturing by independent designers continues to wane, the recent construction of 400 Fifth Avenue may be a symbol of where the district’s future may lie.

Deals & Dealmakers »

[9 Jan 2013 | One Comment | ]

Rockrose Development Corp. has purchased the former Eagle Electric factory and office building in Long Island City, Queens, and has plans to renovate the existing structure and erect a 700-unit high-rise luxury residential rental tower above it.
The six-story property, located at 43-22 through 43-46 Queens Street, occupies a half-block bounded by Queens and Dutch Kills Streets. In the summer of 2001, New York City rezoned the property to permit residential, commercial or retail use. The property comprises 520,000 buildable square feet.
Justin Elghanayan, Rockrose president, said, “Preserving Long Island City’s rich …

Deals & Dealmakers, Featured »

[9 Jan 2013 | No Comment | ]
Affordable homes protection costs PDP $15M and some

Preservation Development Partners has bought Sinclair Houses, an 81-unit rental complex in Hamilton Heights.
The two-building property, at 502 and 528 West 151st Street, was purchased for $15,075,000. The new owners have planned for an additional $2.3 million in improvements.
All 81 units at the project will be set aside for tenants earning no more than 60% of Area Median Income (AMI). The purchase and rehabilitation will eliminate the risk of the 81 affordable housing being converted to market rate apartments, says the developers.

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