Investors are rushing in to break ground on community facility and residential-focused developments in the Bronx. But not ZG Capital Partners, the development firm see’s an opportunity to roll-out creative office for a live-work-play feel.
The properties sold include retail stores, a distribution facility and office space. Bed Bath & Beyond will continue to occupy these properties pursuant to long-term leases.
The proposed properties include the renovation of 10 Quincy Street into condominiums, and also a ground-up apartment building development at 26 Quincy St.
The sporting goods retailer will house its logistics and distribution operations in 312,373 square feet of space at the newly built 569,147-square-foot facility, reports CBRE, which was a broker in the transaction.
A joint venture between Levin Management Corp. and Rosemark Management, Inc. secured a $200 million loan for the property once home to the Paramount Theater.
New York City-based Fundamental Advisors has reportedly sold its 75% stake in the 53-story property at 55 E. Pearson St. to LCS of Des Moines, IA and Senior Care Development of Harrison, NY.
Cohen is EVP, chief administrative officer and general counsel of MacAndrews & Forbes Inc. of New York City. Cohen previously served as secretary to New York Governor Andrew Cuomo, as well counselor and chief of staff in the Office of the New York Attorney General under Attorney General Cuomo.
Co-chair of the real estate committee at the Queens Chamber of Commerce is launching a technology-driven real estate brokerage firm focusing specifically on the Queens, New York submarket dubbed Project Queens.
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