Real Estate

The latest office activity in Jersey City includes a new retail lease to round out the offerings at Newport Tower along the waterfront. In addition to that long-term agreement, Cushman & Wakefi...

Genesis Companies and Lemor Development Group announced the financial closing for the Frederick Samuel Apartments. A $383.6 million Permanent Affordability Commitment Together (PACT) project with the New York City Housing Authority (NYCHA) that will bring repairs to more than 1,200 residents. This funding will allow Genesis Companies and Lemor Development,...

New York City plans to create a fund that helps rent-regulated multifamily housing owners and low-income co-ops comply with the city’s building decarbonization law, according to a Sept. 26 news release. The GreenHOUSE Fund would receive proceeds from the sale of “offset certificates,” which the city’s building owners can...

Rockefeller Group, in a joint venture partnership with Park Tower Group, launched leasing for The Dupont, a 361-unit luxury tower along Greenpoint’s waterfront. The property signifies the century-old real estate company’s first project in Brooklyn and is located within the 22-acre Greenpoint Landing. Award-winning architecture firm Gerner Kronick...

“I am super bullish for the first time in two years that things are really going to open up,” said Avison Young’s James Nelson during the “State of the Tri-State” panel at the well-attended Connect Tri-State Multifamily 2024 in-person event, held Oct. 1 at Rockefeller Center’s Studio Gather. That newfound bullishness followed a two-year period in which New York City investment sales volume annually has been “a third of the 10-year average.”

New York, NY – Avenue Law Firm, a prominent legal practice based in New York City, is excited to announce the publication of a new article that sheds light on the pivotal role of closing attorney in real estate transactions. The comprehensive piece elaborates on how these legal professionals guide clients through the critical final stages of buying or selling property, ensuring a smooth and legally sound transaction. Closing attorneys play an instrumental role in real estate deals, managing the array of legal documentation and obligations that accompany property transactions. From reviewing contracts and clearing title issues to addressing potential disputes, their expertise is vital in safeguarding the interests of buyers and sellers alike. “Closing a real estate transaction can be a complex process filled with legal nuances,” said Peter Zinkovetsky of Avenue Law Firm. “Our article aims to educate both buyers and sellers about the importance of having a dedicated closing attorney to navigate these complexities and ensure a successful conclusion." The article details various responsibilities of closing attorneys, including their role in conducting due diligence, coordinating with lenders, and facilitating the final signing process. By emphasizing the strategic and legal significance of these professionals, Avenue Law Firm encourages anyone considering a property transaction to seek experienced legal guidance. To read the full article and gain valuable insights into real estate closings, visit Avenue Law Firm’s website at https://www.avenuelawfirm.com/. For more information on this topic or other legal services, please contact Avenue Law Firm at (212) 729-4090 or visit our office at 505 Park Avenue, Suite 202, New York, NY 10022, United States. About Avenue Law Firm: Avenue Law Firm is dedicated to providing top-tier legal services in a variety of practice areas, including real estate law, business litigation, and more. Located in the heart of New York City, the firm is committed to helping clients navigate complex legal waters with confidence and clarity. Contact: Avenue Law Firm.

Saddle Brook, NJ — CenterPoint Properties has appointed Roy Rosenbaum as senior VP of investments for its East Region markets. Rosenbaum is based in the national industrial real estate investment, development and management firm’s Saddle Brook office. CenterPoint’s chief investment officer, PJ Charlton, said the East Region markets...

The Federal Reserve’s long-awaited rate cut brought relief to residential real estate last month, but not soon enough to lift Manhattan’s performance in the third quarter. Condo and co-op sales in Manhattan last quarter fell 3 percent year-over-year, down from 2,900 to 2,800, according to Miller Samuel’s report for Douglas Elliman. Transactions for the two property types remain about 10 percent below the decade average for the period.

This week, a look back at four of our featured listings from six months ago focuses on homes in Bay Ridge, Crown Heights, Carroll Gardens, and Sunset Park. How did they fare?. This circa 1930s standalone in Bay Ridge has arched doorways and wood floors. The corner lot includes the single-family brick house with a green tile roof and a matching garage. This former Open House Pick is still available.

ORIX Corporation USA appointed Dean Dulchinos as managing director and head of real estate credit. Dulchinos is based in New York and reports to Jeff Abrams, group head of private credit and real estate. In new role, Dulchinos will be responsible for expanding ORIX USA’s third-party CRE credit asset management...

Assemblymember Dana Levenberg, speaking at 5 in 2025 Press Conference in Yonkers, with former Yonkers Council President Chuck Lesnick, Tim Foley and other housing advocates. On September 23, 2024, the Welcome Home Westchester campaign launched an opening salvo and sought to reignite the debate around building the housing we need in advance of the 2025 legislative session in Albany.

Community Investment Strategies Inc has received unanimous approval from the Hoboken Zoning Board of Adjustment to develop ‘The Willow – 36 deed-restricted senior affordable housing units in Hoboken, the city’s first senior affordable housing building in more than 30 years. The Willow, a 55+ senior affordable community,...

A cash-starved Midtown office building went back to its lender last month in a credit bid. It’s a typical outcome, especially for an asset with little appeal. The lender announces an upset price or how much it will let the asset go for. Assuming no one will top the figure, it opens bidding so low — say $1,000 — that no third party will bid it up. It takes the building, pays minimal transfer tax and ideally, sells it later for more than it would fetch at auction.

A new lease was recently signed with Somedays Bakery at the ground floor of 4630 Center Boulevard, a residential building in Long Island City, Queens. The bakery will occupy an 800-square-foot ground-floor space for a 15-year term in the property. This will be Somedays Bakery’s second location in Long Island City, and is set to open its doors in April.

Michael and Brandon Miller needed cash to get their Tribeca condo project going. Their company, Real Estate Equities Corporation, signed a 150-year ground lease in 2010 at 137 Franklin Street and had plans to build a new, three-unit luxury condo building with a $23 million sellout price. Brandon was in charge of the project, and his father rewarded him with a 99 percent membership stake in the entity that owned it, REEC 137 Franklin Street LLC, according to court documents.

Jack Klugmann’s sprawling portfolio in New Jersey has faced numerous foreclosure threats from Madison Realty Capital. Yet he’s managed to hold on to it. Klugmann, whose firm Accurate Builders and Developers is based in Lakewood, New Jersey, claims he has now resolved the situation by restructuring or selling some of his properties to Madison Realty.

A small neighborhood in Midwood has scored another big sale. Real estate developer Joseph Sutton, an executive at his father Jeff Sutton’s Wharton Properties, spent $9.5 million on a single-family home at 935 East Ninth Street, Crain’s reported. The sale is the largest in the area this year, according to StreetEasy.

Manhattan office landlords are likely bummed to put their beach towels away after a strong quarter of activity in the market. Tenants signed deals for 23.1 million square feet in the third quarter, a 25.1 percent jump year-over-year, according to Avison Young’s third-quarter data reported by the Commercial Observer.

The quarter ended with somewhat of a shrug for the new development market in New York City. Coming off of a lackluster spring, closed sales were down almost 13 percent year-over-year, while contracts were up almost 8 percent, according to third-quarter data from Marketproof. Overall contract signings this past quarter fell just short of the number of reported contracts from the same quarter in 2019, with Manhattan reporting 389 contracts last quarter and Brooklyn reporting 231 signed deals.

Two Trees’ Williamsburg megadevelopment notched the priciest condo sale in the Brooklyn neighborhood so far this year. The four-bedroom unit at 8 South 4th Street sold for $5.8 million, or $2,200 per square foot, The Real Deal has learned. The sale is part of the first wave of closings at the waterfront development.