L+M Development Partners has completed the sale of a 99-year leasehold interest at 250 Utica Ave in Brooklyn. Newmark Knight Frank arranged the transaction on behalf of the L+M.
Hudson Square in Manhattan is getting a lot of attention from multifamily and office developers since Google and recently Disney have made the submarket home to their headquarter offices.
Downtown and Midtown South in Manhattan garnered some leasing wins in 2019 and is expected to continue on track for continued leasing strength well into 2020.
The 25-year-old commercial real estate financing and advisory services firm now provides an array of services from due diligence to asset management services, restructuring, crisis management for developers, financial institutions and private equity funds with a concentration on development, construction, bankruptcy, restructuring and marketing.
In 2018, the U.S. Department of Housing and Urban Development) took action against the previous owner of the housing complexes, declaring them an absentee landlord and requiring them to pay $800,000 in civil penalties for failing to provide decent, safe, and sanitary housing conditions to residents.
Sunset Park in Brooklyn has seen droves of media companies flock to set-up shop in Industry City, a 16-building creative campus along the waterfront that has become a hotbed production and entertainment companies.
Real estate investment management firm George Comfort & Sons' 200 Madison Ave. is 100 percent occupied after it has finalized a 10-year lease with Neville, Rodie & Shaw, Inc. The property sits in the highly desired Midtown South submarket, in which NRS will remain on the 20th floor through 2031.
Midtown leasing activity saw a steady decrease in volume in 2019 at an estimated 25 percent from the previous year and is on track to see the highest quarterly supply of office inventory in nearly five years with no chance of a let-up as 2020 is underway.
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