Newark, NJ — Marcus & Millichap announced the sale of Spring Street Commons, a 43,860 s/f of land located in Newark for $4 million according to Brian Hosey, regional manager of the firm's New Jersey office.
Carlos Zapata, investment specialists in Marcus & Millichap's New Jersey office, had the listing to market the property on behalf of the seller, a developer.
Spring Street Commons is located at 73-87 Clay St. in Newark. The land is fully approved for 84 residential units
Irvington, NJ — The Kislak Company, Inc. announced the recent sale of a seven-building portfolio in Irvington with 184 residential units, six stores and one income-producing antenna for $17.8 million.
The properties are located at 2-10 Wagner Pl.; 38-40 Chester Ave.; 979-983 Clinton Ave.; 494 Stuyvesant Ave.; 780-86 Lyons Ave.; 51 Linden Ave.; and 26-28 Chester Ave.
Senior vice president Joni Sweetwood represented the seller and procured the purchaser. The sale marked both
Our team at DesignPoint has vast experience in health care and senior living projects. “Whether a physician’s office, surgical center, skilled nursing facilities, assisted living or memory care, at some point we have worked with them all,” said DesignPoint President & Founder Les McCoy. “Given the recent increase in dementia diagnoses, the assisted living industry is scrambling to meet the need, and memory care is a hot topic.”
Nationally, clients have sought DesignPoint’s
"CRE Tech” and “PropTech” are the buzzwords that seem to be everywhere as new start-ups launch solutions to digitize and revolutionize commercial real estate. As brokers look to integrate new tools and solutions, it can be overwhelming to figure out where to start. I highly recommend that they start by creating an account with Ten-X Commercial, the nation’s only end-to-end platform for transacting commercial real estate.
If you are not familiar with Ten-X Commercial, we ar
Joseph Puggi began his career with TCS Management just one year ago. In that short amount of time he has grown to be one of the companies biggest assets. Joe’s dad was in sales so he always knew he wanted to work in a sales profession, he just was not sure what would be best for him. He chose to come onboard with TCS because he was excited for the challenge and knew this career path was something he could set his mind to and succeed in. He has succeeded many times over since
What is your most notable project, deal or transaction? There are a few that come to mind, but my favorite was the acquisition of a Bergen County office property that we financed during 2017. Our customer was under a tight window to close and the deal required a fair amount of structure and creativity in order to get all parties comfortable. We had third party professionals working around the clock and at the end of the day we were able to close the deal in about 35-40 days.
What is your most notable project, deal or transaction?It’s hard to pick one, but the one that I’d say I poured the most of my heart and soul into was the closing of the construction financing for The Atlantic. The Atlantic is the redevelopment of an office building in a “Main and Main” location in Center City Philadelphia into what will be the premiere, market-leading residential rental building in the city when it is complete. As with a typical Post project, we aimed to bui
What is your greatest professional accomplishment? In his young career, Adam has already reached a number of professional accomplishments he is proud of. He excelled in his schooling and graduated from Binghamton University with his Bachelors and obtained his Masters in Business Administration (MBA) with a focus in Accounting from Montclair State University. Shortly after, Adam obtained his Certified Public Accounting license, and was most recently promoted within the firm to
How do you contribute to your company and / or the industry? At Progress Capital, I take great pride in adding value to my client’s overall investment portfolio for both themselves and their partners. We have a tremendous amount of deal flow throughout the United States, which carries weight with both local and national lenders in obtaining preferential rates and terms. I’m always happy to increase their bottom line and make sure we handle the entire process to get them to th
What is your greatest professional accomplishment? Closing $40 million in real estate transactions in one month.What is your most notable project, deal or transaction? Closing SilkLofts in Bayonne, NJ for $32 million. SilkLofts is an 85-unit luxury loft apartment complex.How do you contribute to your company and / or the industry? I spend time mentoring newer associates in our New Jersey office and will sometimes travel into our New York office to give various sales presentat
What is your greatest professional accomplishment? Winning the Gold Award at The Condo Shop / TCS Management. What is your most notable project, deal or transaction? I worked with a world traveler, Corporate Executive, family who wanted to live in Philadelphia but did not feel they could find the new and posh style they were used to abroad. On our last stop I took them to Philadelphia’s latest high-rise and she found her “Philly home.” What impact has social media / networkin
What is your greatest professional accomplishment At this point in my career, my greatest achievement has been obtaining my Professional Engineering license. I spent many hours after work and on the weekends studying for the exam and passing it was definitely a proud moment for me. I feel that it represents determination and a strong commitment to our industry. What is your most notable project, deal or transaction? I was involved in the design of Bristol-Myers Squibb’s new 6
Experience: Since joining JLL in 2011, Alex has completed over 500,000 s/f of tenant representation transactions and has helped secure over 4 million s/f of landlord representation assignments. In his current role, Alex has facilitated the strategic placement and planning of Tenants in the Philadelphia CBD and surrounding suburbs through combining site selection, occupancy planning, budgeting, quantitative & qualitative analysis and flexibility analysis to achieve his client’
What is your most notable project, deal or transaction? For projects, I had the great fortune of being part of a small team of fiercely brilliant individuals who worked on the asset management (and some would say turnaround) of one of the largest multifamily properties in the world. On the deal front, the first deal I worked on as a lender was an acquisition loan for a client who was purchasing a trophy residential building in Center City in Philadelphia. The purchase was nor
Signed into law on December 22, 2017, the Tax Cuts and Jobs Act is the most comprehensive reform in three decades. Here are six key provisions in the tax law that owners and developers of real estate should be aware of. 100% Expensing for Certain Business Assets Pre-reform law – For 2017, 50% expensing (bonus depreciation) is allowed on qualified property (only new property qualifies). For 2018 and 2019, expensing would be phased out and then disappear thereafter. New law – 1
Yonkers, NY — National manufacturer Crystal Window & Door Systems is nearing delivery completion of over 2,250 windows and doors for a new luxury apartment complex in Yonkers. The new development, River Tides at Greystone, located at 1133 Warburton Ave., features two 10-story towers set along the beautiful Hudson River. “Crystal’s high-end commercial windows and terrace doors were a perfect fit for this type of upscale new construction project,” said Blaise Benevenga, regiona
A Licensed Site Remediation Professional (LSRP) is an experienced environmental consultant who has completed a rigorous application and exam process to be licensed by the State of New Jersey. LSRPs are hired by Responsible Parties (RPs) to direct environmental investigations and remedial actions in accordance with applicable New Jersey Department of Environmental Protection (NJDEP) rules and regulations. Each LSRP is required to maintain their license by attending courses on
KING OF PRUSSIA, PA — Morgan Properties has acquired a $277.5 million, four-property portfolio consisting of 2,729 units located in the suburban Maryland-D.C. Corridor from Rockpoint Group. The acquisition, called the NOAH Portfolio, includes Carriage Hill, Charlesmont, Gwynn Oaks, and Princeton Estates. Morgan Properties also recently acquired Parkview at Collingswood, a 1,030-unit, mid-rise apartment community in Collingswood, NJ. These acquisitions come on the heels of thr
PISCATAWAY, NJ — Rockefeller Group has signed a lease with Best Buy at its 228-acre site in Piscataway. The global real estate owner, developer and investor is developing the 2.2-million s/f, state-of-the-art Rockefeller Group Logistics Center.Best Buy – now the first official tenant of the Logistics Center will fully occupy a 725,000 s/f building currently under construction. Through the opening of its new logistics facility, the omnichannel consumer electronics retailer ant