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Articles in the Finance & Accounting Category

Construction & Design, Featured, Finance & Accounting »

[18 Dec 2014 | No Comment | ]
Brausers land $62M to build new Fulton Street  apartment tower

HFF has arranged $61.75 million in financing for the development of Exhibit, a luxury residential tower comprised of 120 residential rental units and 6,800 s/f of retail space located at 60 Fulton Street in Lower Manhattan.

HFF worked on behalf of Gerald Brauser and Steven Brauser of The Parkland Group, LLC to secure a 33-year construction-perm loan through Pacific Life Insurance Company.

Finance & Accounting »

[16 Dec 2014 | No Comment | ]

New York City’s economy outpaced the nation over the first three quarters of the year, helping to strengthen the City’s financial position, according to an analysis by New York City Comptroller Scott M. Stringer of the City’s 2014 November Financial Plan.
“New York City is in a strong financial position, with revenue coming in higher than projected,” Comptroller Stringer said.
“Until we see a slow-down in revenue growth, out-year budget gaps should remain manageable throughout the four-year financial plan.
The City is prudently managing its expenses, including implementing the new citywide agency savings …

Finance & Accounting »

[16 Dec 2014 | No Comment | ]

Meridian Capital Group arranged a $49 million CMBS loan for the refinance of an office property located in Brooklyn, NY on behalf of Marcal Group.
The 10-year CMBS loan features a fixed-rate and interest-only payments for the first three years. This transaction was negotiated by Meridian Capital Group senior managing director Abe Hirsch, and managing director Zev Karpel, who are both based in the company’s New York City headquarters.
The newly constructed Calko Medical Center property is located at 6002 Bay Parkway in Brooklyn and totals 125,000 s/f of office and retail …

Finance & Accounting, Property Managers »

[11 Dec 2014 | No Comment | ]

By Izzy Green, president & CEO
Evergreen Insurance & Risk Management
Whether your building is vacant due to a sluggish economy or for some other reason, it’s important to ensure that it’s kept as safe as possible.
Vacant commercial buildings can create a number of risk-related challenges. Regardless of whether your property is vacant for only a few days or a few months, the risks related to a vacant building can result in the potential for expensive losses and liability. By following the steps listed below, you can identify potential hazards and learn …

Deals & Dealmakers, Finance & Accounting »

[10 Dec 2014 | No Comment | ]

A panel of hospitality industry development, management and investment experts provided their points of view about the New York City hotel market from occupancy to REVPAR (Revenue Per Available Room) to traditional vs. boutique brands and an exploration of current and future trends at a recent Metropolitan New York Chapter of the Appraisal Institute luncheon.
Moderated by Eric B. Lewis, MAI, senior vice president, global practice leader, Hospitality & Gaming, Cushman & Wakefield, Valuation & Advisory,
The panelists cited New York City as the strongest hotel market in the U.S., the center …

Deals & Dealmakers, Finance & Accounting, Retail »

[10 Dec 2014 | No Comment | ]

By Konrad Putzier
Global capital may see U.S. real estate as a safe investment, but some finance leaders are seeing risks on the horizon.
Marc Shapiro, a partner at Mayer Brown LLP, said he has noticed lenders becoming aware of a growing risk of default. “More so than in the past, we are seeing capital saying: What happens if we end up owning the site?” he said.
Shapiro shared the stage with Jill Block, also of Mayer Brown LLP, and three real estate bigwigs on the final day of ICSC New York in …

Finance & Accounting, Headline »

[10 Dec 2014 | One Comment | ]
Cash startups are separating  from the crowd

In the trial-and-error gospel of creative destruction, failure is arguably as important as success. For every startup that turns an industry on its head, there are dozens more who disappear, never to be heard from again. Their downfall offers valuable lessons to more successful competitors.

It is too early to point out winners and losers in real estate crowdfunding. But the two-to-three-year old crop of startups is starting to show signs of diverging.

At the top, a few firms — most notably Fundrise and Realty Mogul — are entrenching themselves as industry leaders. Others have started to fall behind. Their fate is raising questions over the future of crowdfunding. Can the field sustain dozens of firms in the long run, or will it consolidate into a handful of behemoths?

Construction & Design, Featured, Finance & Accounting »

[4 Dec 2014 | No Comment | ]
Industry icons point to infrastructure investment as sector to watch

Two icons of the commercial real estate industry continue to be very optimistic about the U.S. economy, telling their fellow industry leaders that even secondary and tertiary markets have reason to view the future with confidence.
Ray Torto, Ph.D., CRE, the Harvard University lecturer who recently retired as global chief economist of CBRE, and Doug Poutasse, CRE, EVP, head of strategy and research at Bentall Kennedy, made the remarks to the audience of Counselors of Real Estate at the organization’s annual convention in Boston.
Torto said that while there is chatter about …

Finance & Accounting »

[3 Dec 2014 | No Comment | ]

By Audre Lukosevicius, WesierMazars LLP

 Many people own rental property of some kind – whether they are renting out part of a primary residence or a vacation home. Regardless of the type of rental property, owners must make themselves acquainted with the various tax rules that apply to it, as these can differ significantly based on the degree to which the property is used for personal purposes.
The first step is to determine the status of the property – either dwelling or mixed-use.  A dwelling unit used for personal purposes is not necessarily …

Finance & Accounting »

[3 Dec 2014 | No Comment | ]

Eastern Union Funding secured a $4.2 million acquisition loan for Wythe Plaza, a retail and shopping complex located at 800 E Main Street in Wytherville, VA.
The 99,745 s/f shopping center is owned by Bila Family Partnership.
The loan, provided by Mid-Atlantic Financial Partners, was arranged by Eastern Union Funding’s Mid-Atlantic team, consisting of Marc Tropp and Shai Romirowsky. It features an interest rate of 4.875 on a three-year term.
“We are seeing continued growth in Virginia, and this particular shopping center features many big name attractions and is at the crossroads of …

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