The Most Comprehensive Source for Commercial Real Estate News in the Region 

NEW YORK, NY — S3 Capital Partners, a New York City-based private lending platform, closed 85 loans for a total of $915 million in 2019. S3 Capital is the New York metropolitan area’s most active lender with 150 active loans in the five boroughs of New York City and New Jersey. S3 Capital closed the year with a $250 million loan to the McSam Hotel Group for 150 West 48 St. The financing, a $210 million first lien and a $40 million mezzanine loan, is for the acquisition and c

NEW YORK, NY — Time Square Development Group and Time Square Construction Inc., each an independent business integrated into Tower Holdings Group, will partner on the development and construction of 1215 Fulton Street, a new co-living residential and hotel development in Bedford-Stuyvesant, Brooklyn. Time Square Development Group and London-based The Collective, one of the leaders in co-living communities, purchased the 1215 Fulton Street property, as well as 10 Halsey St. a

NEW YORK, NY — DeSimone Consulting Engineers, an engineering firm with offices worldwide, recently celebrated the completion and grand opening of the new Statue of Liberty Museum. DeSimone worked closely with FXCollaborative, the National Park Service, and the Statue of Liberty – Ellis Island Foundation to design and complete the new cultural facility located just steps away from the iconic national monument on Liberty Island. The new 26,000 s/f building introduces 15,000 s/

NEW YORK, NY — The Community Preservation Corporation (CPC), Project FIND, the Joint Ownership Entity New York City (JOE NYC), and the NYC Department of Housing Preservation and Development (HPD) announced the closing of a $6 million Fannie Mae Multifamily Affordable Housing (MAH) loan to finance the rehabilitation and preservation of The Hargrave House, a 113-unit, affordable senior housing development located at 111 West 71st St. in Manhattan. The financing will help pay fo

NEW YORK, NY — Governor Andrew M. Cuomo announced the completion of the new 96-apartment Azalea Village Phase Two, a $21.6 million affordable housing development for seniors in the Town of Webster. All tenants in the CDS Housing Azalea Village development can take advantage of services at the adjacent Wolf Life Transitions Center, which provides recreation, training, employment and volunteer opportunities, and an indoor therapy pool. "Quality and affordable housing is criti

NEW YORK, NY — CPC Mortgage Company LLC’s Timothy Deegan has been promoted to vice president and head of agency production. In his new role, Deegan will oversee production across the company’s FHA, Freddie Mac, and Fannie Mae lending platforms, and will work with originations staff and borrowers to provide technical assistance and ensure deal execution. CPC Mortgage Company LLC is a subsidiary of The Community Preservation Corporation (CPC), a leading nonprofit multifamily f

NEW YORK, NY — NCV Capital Partners (NCV), a real estate advisory and development firm, in partnership with Mount Hope Housing Company (Mount Hope), Lemor Development Group (LDG), and the Community Preservation Corporation (CPC) announced the closing of a $100 million transaction to preserve a 515-unit, 13-building portfolio (Mount Hope Renaissance) in the Mount Hope neighborhood of the Bronx. The Mount Hope Renaissance portfolio includes 515 affordable units spanning betwe

NEW YORK, NY — VTS, a commercial real estate industry’s leading leasing and asset management platform, today announced that in Q3 the company achieved its most successful quarter to date, welcoming a record number of new clients to the platform – the highest number in company history. Square footage managed on the platform has grown to 9 billion s/f, increasing 60% from Q3 2017, with one in three office buildings in the U.S. now managed on VTS. A number of new clients chos

NEW YORK, NY — Cindy Cui, Penny Starace, and Meghan Barlotta of Kimmerle Group (KG), a Harding-based multifaceted architectural/design organization, have been recognized for their tenure and performance at the honorary awards breakfast on October 19th. The award ceremony acknowledged these individuals for their outstanding leadership, vision and unique role in driving the success of the firm. “Cindy, Penny, and Meghan have been instrumental in the growth of Kimmerle and hav

NEW YORK, NY — AKF, a global leader in engineering, technology, design, consulting and commissioning, is excited to announce that Partner Mark Richter, PE has been appointe d b y t h e Council on Tall Buildings and Urban Habitat (CTBUH) to serve as 2019 Jury Chair on the MEP Engineering panel for the CTBUH Annual Awards. Richter, who has earned praise for his expertise in the planning and design of highrise and mixed-use properties, noted that to date AKF has been instrumenta

NEW YORK, NY — RIPCO Real Estate (RIPCO) and Related Companies (Related) announced that Food Bazaar Supermarket signed an 80,000 s/f lease at Bronx Terminal Market. Developed by Related Companies in 2009, Bronx Terminal Market is home to a variety of restaurant and retail tenants, and Food Bazaar – which will be the largest supermarket in the borough when complete – will add a full-service supermarket to the complex when open in the spring of 2019. Boasting one million s/f o

NEW YORK, NY — RAL Development Services (RAL) announced grocery store ALDI has signed a long-term, 25,427 s/f retail lease at 1300 Fairmount Ave. The 14-story, 624,575 s/f mixed-use property, currently under development by RAL, is located at the intersection of Fairmount Ave., Ridge Ave. and North Broad St. The announcement was made by Spencer Levine, managing director of RAL. “We’re pleased ALDI chose our location along the developing North Broad Corridor,” said Levine. “I

New York, NY — For the fourth consecutive year, Cohn-Reznick, one of the top accounting, tax, and advisory firms in the U.S., was named to the Accounting MOVE Project’s Best Accounting Firms for Women List, announced by the Accounting & Financial Women’s Alliance (AFWA) and AWSCPA. The 12 firms named to the Best Accounting Firms for Women list demonstrate three key characteristics: • Consistent, measurable progress in advancing women to leadership • Proven and continually evo

NEW YORK, NY — Holliday Fenoglio Fowler, L.P. (HFF) has arranged $290 million in financing for the development of 151 East 86th St., a luxury mixed-use residential and retail project in Manhattan’s Upper East Side neighborhood. HFF worked on behalf of the developer, a joint venture between Ceruzzi Holdings LLC (Ceruzzi) and Kuafu Properties (Kuafu), to secure the construction loan with a foreign capital source. HFF previously sourced financing on Ceruzzi’s behalf for its acqu

New York, NY — Montgomery McCracken announced the addition of four attorneys and one law clerk from the New York-based firm Mishaan Dayon & Lieblich. The group brings substantial experience in the fields of commercial and real estate law and associated transactions and litigation. Saul Mishaan and Jeffery Dayon will join as partners; Dayon will also serve as Chair of the Firm’s Commercial Leasing and Development Practice Group. Matthew Bondy will join as of counsel; Daniel La

NEW YORK, NY —Kathy Anderson of Progress Capital Advisors negotiated the transfer of the leasehold interest in 220 Fifth Ave. from a subsidiary of Dino & Sons Realty Corp. to a joint venture between Stellar Management and Imperium Capital. Formerly known as the Croisic Building, 220 Fifth Ave. was constructed in 1912 and is renowned for its Neo-Gothic architecture which is visible for blocks because of its two-story copper mansard roof. “220 Fifth Ave. is a special building t

NEW YORK, NY — New York City-based investment advisory firm DRA Advisors LLC has acquired a 19.8 million s/f industrial portfolio on behalf of its funds from Boston-based private equity real estate firm Cabot Properties, Inc. Eastdil secured and Cushman & Wakefield represented Cabot Properties in the $1.07 billion trade. The portfolio is geographically diversified across 21 markets throughout the United States, including major industrial hubs such as Dallas, Chicago, Columbus

New York, NY — The New York City architectural and planning firm of Urbahn Architects has completed Centro Médico Correccional (CMC) in Bayamón, Puerto Rico. The project has received the prestigious Distinction Team Award from the 2015 Healthcare Facilities Symposium & Expo 2015. The Distinction Awards competition honors design teams and individuals who have made a profound contribution to the healthcare design industry. Urbahn served the Puerto Rico Corrections and Rehabili

New York, NY — Shaw Industries has signed a long-term lease to occupy 7,963 s/f at 853 Broadway in Union Square, announced The Feil Organization, the building’s owner and manager. The Berkshire Hathaway division will take occupancy of the entire third floor at the end of this year to use as a showroom. The third level is the first of three floors that recently were renovated with a glass curtain wall. “The striking visibility, combined with an exceptional view of Union Square

New York, NY — Professional Women in Construction NY (PWC) has appointed Chelsea LeMar as executive director. LeMar brings to the nonprofit organization an international and domestic background working with public programs that provide the support and resources that enable various groups to flourish and thrive. She will concentrate on developing, rebranding and expanding PWC’s scope and mission in multiple areas including mentorship and continuing education; membership recrui