Crowdfunding breaks the billion
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[2:37 pm, March 3, 2015 | No Comment | ]

By Konrad Putzier
Real estate crowdfunding firms raised $1.014 billion worldwide in 2014, according to a report by research and consulting firm Massolution. Most of that money – $565 million – was raised in North America, more than doubling the 2013 total of $184 million.
The report highlights the impressive growth of real estate crowdfunding following its de-facto legalization in the U.S. in September 2013. In 2012, crowdfunding firms had raised a mere $19.1 million worldwide. U.S. crowdfunding platforms like Fundrise or Realty Mogul remain small players in real estate finance, but …

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Deals & Dealmakers »

[7:00 am, March 5, 2015 | No Comment | ]

CBRE Group, Inc. announced that it has arranged the sale of 1420 Grand Concourse, Bronx, N.Y., for approximately $18.7 million. The 140-unit multifamily building has the highest recorded price per unit for a walk-up in the South Bronx.
CBRE’s Tri-State Investment Properties team of Charles Berger and Mark Silverman, of New Jersey Investment Properties, and Elli Klapper, of New York Investment Properties, represented the seller and procured the buyer in the transaction.
The CBRE team was able to quickly obtain the buyer, a CBRE Investment Properties client, and secure top pricing for …

Finance & Accounting »

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[11:09 am, March 3, 2015 | No Comment | ]

Charles Rutenberg LLC premieres its “Health & Wealth in Real Estate” seminar series on Thursday, March 5th, with guest speaker Melanie Haselmayr, Founder and CEO of Mevvy, the revolutionary app discovery platform that has been touted in Forbes, AllBusiness.com and other national publications and business blogs. The first in an ongoing series of seminars that will be covering a wide range of topics, including technology, health and wealth management, it will be open exclusively to Rutenberg agents and their guests, and is being held at the 3 West Club, 3 West 51st Street, …

Photo Gallery »

[4:42 pm, February 27, 2015 | No Comment | ]

Recently, the Continuum Company celebrated the launch of 45 East 22nd Street with a special preview of its sales gallery. Joining Ian Bruce Eichner were the building’s London-based interior designer Martin Brudnizki, Kohn Pedersen Fox architects Robert Whitlock and Hugh Trumbull. Corcoran Sunshine Marketing Group are exclusively handling the sales and marketing for the building. Guests sipped on specialty cocktails from Raines Law Room, sampled hors d’oeuvres from Danny Meyer’s Union Square Hospitality and listened to a three-piece orchestra. www.45east22.com

[Show picture list]

REBNY Watch »

[4:26 pm, February 27, 2015 | No Comment | ]

By Steve Spinola
New York City is always improving upon itself. Whether that means developing new neighborhoods, attracting new talent, constructing more efficient buildings, or renovating existing structures, New York is and has always been leading the way when it comes to embracing the future.
Governor Cuomo recently highlighted a project that is crucial to the region’s future, the importance of redesigning La Guardia and John F. Kennedy International Airports, an investment which he said would help sustain our vital transportation and foster strategic growth in New York.
We cannot underestimate the importance of air travel. Our airports are …

Deals & Dealmakers »

[4:20 pm, February 27, 2015 | No Comment | ]

TAP Electrical Contracting Service, who has won an award for Hurricane Sandy Relief Project work at the Fulton Street transit substation, has secured a field office at 116 Nassau Street in Manhattan.
The firm signed a 6,134 s/f lease for an office within the 140,000 s/f property owned by Abacus Federal Savings Bank. The asking rent in the building was $36-per-square-foot.
Elliot Zelinger and Jesse Topal of Savitt Partners represented TAP Electrical Contracting Service in the transaction while David Danick, Greg Gang, and Catherine O’Toole of CBC Alliance represented the owner.
“TAP Electrical …

Deals & Dealmakers »

[4:15 pm, February 27, 2015 | No Comment | ]

NEW YORK
Adams & Co. Real Estate brokered five deals for a total of 5,296 square feet at 34 West 33rd Street. David Levy, principal, and Brett Maslin of Adams & Co. represented the landlord, Arcade Building Associates, as well as the tenants in the following transactions at 34 West 33rd Street.
• A 1,645 square-foot renewal for Yoka Showroom, LLC. Although details of the transaction were not disclosed, asking rent was $48 per square foot. Yoka Showroom plans to use the space for general and executive offices and showroom space for …

Deals & Dealmakers »

[4:09 pm, February 27, 2015 | No Comment | ]

Colliers International has arranged a long-term, 19,225 s/f lease for Federal Farm Credit Banks Funding Corporation at 101 Hudson Street in Jersey City.
The federally chartered organization, which provides financing for the U.S. agricultural community through the Farm Credit System, will relocate from their current location at 10 Exchange Place to occupy part of the 35th floor at the Class A, 1.2 million square foot office building in the fourth quarter of 2015.
“This model ‘corporate citizen’ was highly sought-after by landlords in the marketplace,”said Robert Goodman, Executive Managing Director at Colliers …

Deals & Dealmakers »

[4:09 pm, February 27, 2015 | No Comment | ]

Affordable gym chain Retro Fitness – known for its low-cost, high-value fitness concept – has leased 16,000 s/f at Twin City Shopping Center in Jersey City
The announcement was made by retail real estate services firm Levin Management, exclusive managing and leasing agent for the 98,000-square-foot shopping center.
Levin’s Senior Leasing Representative Jake Frantzman negotiated the long-term lease, which fills just more than half of a 30,000-square-foot, former big-box space at the property. Hugh Scullin of Katz & Associates represented the tenant.
Retro Fitness was attracted to Twin City Shopping Center’s excellent visibility …

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