Real Estate Executive Council Appoints New CEO

The Real Estate Executive Council, a professional trade association for executives of color in commercial real estate, has appointed Ken McIntyre, founder and managing principal of commercial real estate finance advisory firm PassPort Real Estate, LLC, as the new interim chief executive officer.

       

source https://feeds.feedblitz.com/~/619024282/0/globest/new-york~Real-Estate-Executive-Council-Appoints-New-CEO/

NJBIA Slams New Jersey’s Business Climate as Worst in Region

In its updated 2020 Business Climate Analysis, the NJBIA report states that New Jersey has the least competitive business climate, with the highest corporate tax, state sales tax, income tax and property taxes in the region when compared to Massachusetts, Connecticut, New York, Pennsylvania, Maryland and Delaware.

       

source https://feeds.feedblitz.com/~/619016886/0/globest/new-york~NJBIA-Slams-New-Jersey%e2%80%99s-Business-Climate-as-Worst-in-Region/

Local Queens Developer Buys OZ Development Site

Local Queens developer Gary Tsan has acquired a 200,000-square-foot development site situated in a qualified Opportunity Zone in the Downtown Flushing submarket for $58 million, or approximately $290 per buildable square foot. The one-acre development is located at 133-25 37th Ave., and is said to be one of the last large land parcels available in the submarket.

       

source https://feeds.feedblitz.com/~/619015728/0/globest/new-york~Local-Queens-Developer-Buys-OZ-Development-Site/

Art Johnson Lands $120M Loan For Jersey City Property

Tall Pines Capital has loaned $120 million to the development The Element, a six-story apartment building located at 400 Claremont Avenue in Jersey City, New Jersey. The loan is split between an $84,000 construction loan and $36,000 of equity. Kathy Anderson, a founding partner of commercial real estate firm Progress Capital, arranged the loan.

       

source https://feeds.feedblitz.com/~/618969138/0/globest/new-york~Art-Johnson-Lands-M-Loan-For-Jersey-City-Property/

Stonehenge NYC and A-Rod Venture Acquire First Property

A venture comprised of real estate firm Stonehenge NYC, retired Major League Baseball player Alex Rodriguez A-Rod Corp and real estate agency the Modlin Group have announced the acquisition of 340 East 51st, a 114-unit residential apartment building in Midtown East.

       

source https://feeds.feedblitz.com/~/618968434/0/globest/new-york~Stonehenge-NYC-and-ARod-Venture-Acquire-First-Property/

NJ State Senate Floats $500M NJ TRANSIT Funding Plan

On Friday, Sen. Sweeney proposed to tap a total of $500 million from the state Corporation Business Tax, the New Jersey Turnpike and the Clean Energy Fund for the NJ TRANSIT operating budget.

       

source https://feeds.feedblitz.com/~/618962796/0/globest/new-york~NJ-State-Senate-Floats-M-NJ-TRANSIT-Funding-Plan/

Riaz Capital Locks Into $100M OZ Fund Goal

The Bay Area-based has secured an estimated $75 million in capital commitments to its opportunity zone fund aimed at closing the affordability gap in the expensive local housing market.

       

source https://feeds.feedblitz.com/~/618847944/0/globest/new-york~Riaz-Capital-Locks-Into-M-OZ-Fund-Goal/

Living New York Acquires Brokerage Firm to Bulk-up Landlord Representation

Living New York, a real estate firm specializing in landlord representation, sales and new development, has acquired Mdrn. Residential, a New York-based brokerage firm.

       

source https://feeds.feedblitz.com/~/618846214/0/globest/new-york~Living-New-York-Acquires-Brokerage-Firm-to-Bulkup-Landlord-Representation/