David Linn with the White Plains-based The Galinn Fund LLC has sold the parcels at 251 Douglass St. to New York City-based Tavros Capital Partners and the Charney Companies of Long Island City.
Township Capital, Triangle Equities Development and L&B Realty Advisors LLP are planning to build an enormous warehouse near John F. Kennedy Airport.
“We expect Q2 to be the real barometer of the pandemic’s impact on the market,” says Halstead’s Stephen Kliegerman.
The majority of survey participants anticipate that the economy will need at least 12 months to 24 months to fully recover from the pandemic while 30% of participants project a two-year to five-year recovery timeline.
The first offering was oversubscribed shortly after it was launched, the company reports, with many of the initial investors came from the company’s existing database.
The retail delinquency rate was 3.89% in early April—higher than any other sector, according to Trepp.
On Sunday, the governor outlined a phased plan to reopen New York and what he termed would be an effort to re-imagine a new normal for the state starting with the construction and manufacturing sectors that have low risk.
The project at 90 Sand St. recently secured approval from the New York City Council will convert the former residential hotel building into 508 affordable units.
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