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Eric Wu Steps Down as Opendoor’s CEO

Opendoor Technologies Inc. announced the appointment of Chief Financial Officer Carrie Wheeler as chief executive officer. Wheeler served as CFO of Opendoor for the last two years and as a member of the company’s board prior to that. She brings deep financial acumen and operating insight to her role, coupled with her 25 years in… The post Eric Wu Steps Down as Opendoor’s CEO appeared first on RISMedia......»»

Category: realestateSource: RISMEDIA10 hr. 43 min. ago Related News

From Licensed Therapist to REALTOR®: How Coping Skills Transcend the Lines

It wasn’t surprising to Anam Hargey when she decided a couple of years ago to transition from a career as a licensed therapist to become a REALTOR® that the expertise she’d honed in her first profession would be invaluable in her new one. What she didn’t anticipate, however, was how she herself would need to… The post From Licensed Therapist to REALTOR®: How Coping Skills Transcend the Lines appeared first on RISMedia......»»

Category: realestateSource: RISMEDIA10 hr. 43 min. ago Related News

ACRE Announces Launch of Leasing at ‘Havens at Central Park’ in Port St. Lucie, Fla.

 ACRE, a global real estate private equity firm, today announced it has officially begun leasing at Havens at Central Park, a high-quality, 158-unit single-family build-to-rent (BTR) development located in Port St. Lucie, Florida.  The project is being developed in partnership with Fort Lauderdale-based Stellar Communities. With construction underway, Havens at... The post ACRE Announces Launch of Leasing at ‘Havens at Central Park’ in Port St. Lucie, Fla. appeared first on Real Estate Weekly.  ACRE, a global real estate private equity firm, today announced it has officially begun leasing at Havens at Central Park, a high-quality, 158-unit single-family build-to-rent (BTR) development located in Port St. Lucie, Florida.  The project is being developed in partnership with Fort Lauderdale-based Stellar Communities. With construction underway, Havens at Central Park is scheduled to officially open in late Spring 2023. Located 15 miles south of Fort Pierce within Verano – a newly developed, master-planned community – Havens at Central Park will feature a mix of one-, two- and three-bedroom residences, with an average size of 949 square feet. Unit interiors will feature best-in-class finishes and smart-home technology. Residents will have access to a full suite of high-quality amenities including a clubhouse, resort-style pool and fitness center.  “ACRE remains focused on identifying unique multifamily and single-family development opportunities in high-growth coastal markets across the Southeast,” said Bret Hewett, Vice President of Acquisitions for ACRE. “We’re very excited to partner with an accomplished firm in Stellar Communities to bring our vision for this development to life, and we’re thrilled to expand our footprint to a region that continues to see robust economic growth and exceptionally strong demand for affordable high-quality apartments.”  Through a series of equity and debt funds, ACRE manages more than $3.2 billion in assets across private real estate investments and loans. The firm specializes in value-add, multifamily opportunities and invests in workforce and affordable housing assets in strategic growth markets. ACRE’s unique approach to managing its diverse portfolio of multifamily properties includes an intentional focus on creating added value for residents that extends beyond the four walls of their homes. By establishing a sense of community among residents through socially impactful investments and sustainable green measures, ACRE effectively improves tenant retention and generates stable, cash-flowing properties. The post ACRE Announces Launch of Leasing at ‘Havens at Central Park’ in Port St. Lucie, Fla. appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLY14 hr. 27 min. ago Related News

Valerie R. Costa Commemorates 10 Years with MJM+A Architects, and is Named Associate by Partner Ryan Scipione

MJM+A is proud to celebrate Valerie Costa’s 10 years with the firm by making her an Associate, a richly deserved advancement within the leadership of the company. Founding partner Michael Macaluso says “Val’s enthusiasm, loyalty, passion, and commitment to our work is infectious through the entire staff. She makes it... The post Valerie R. Costa Commemorates 10 Years with MJM+A Architects, and is Named Associate by Partner Ryan Scipione appeared first on Real Estate Weekly. MJM+A is proud to celebrate Valerie Costa’s 10 years with the firm by making her an Associate, a richly deserved advancement within the leadership of the company. Founding partner Michael Macaluso says “Val’s enthusiasm, loyalty, passion, and commitment to our work is infectious through the entire staff. She makes it both fun and challenging to come to the studio every day and we are very excited to see what she can do from here on.” Partner Ryan Scipione adds, “Valerie has proven herself an invaluable member of the team at MJM+A, and I couldn’t be prouder to announce that she is now an associate of the firm.” Some people just know from the beginning of a job when they have found a home. This was the case when Valerie Costa walked into the offices of MJM+A Architects in 2012 after graduating from New York City College of Technology (CUNY) where she received her BS in Architectural Technology. Valerie was immediately steeped in the warm and nurturing environment at MJM+A and quickly became an integral part of the team. Meticulous and creative, Valerie fast tracked to become Project Manager, a particularly demanding position in an architectural firm. Bringing exceptional insight and skills to run project teams and communicate the most technical of issues with clients and her colleagues, it was clear that Valerie was a leader from the get-go. That was balanced by her ability to dig into the nuts and bolts of jobs, working with the latest technologies such as AutoCad, Revit, 3d Studio Max and the Adobe Creative Suite, producing technical documents, bids and other reports and observing project benchmarks directly in thefield. Essentially, whether it is to lead a team of CAD technicians or to get her hands dirty in the trenches, Valerie’s reputation is to do whatever is necessary to develop a project from design through completion of construction. “Working with Michael and Ryan hand-in-hand on projects has been a true learning experience. From the measure-up of existing conditions into schematic design, design development/construction documents, and construction administration, I see the project fully through from beginning to end and it is very exciting. It’s also great when we all participate in a design charrette and in the end, we go with the design that’s best for this application, no matter who is the initial designer. Everyone then adds to the final design, so it really is a true collaboration” says Valerie in describing the convivial atmosphere at the firm. “In thinking about some of the more memorable projects I’ve worked on, I really enjoyed the ASPCA facility in the Bronx. Not only because I am a dog person, but it was quite the challenge. The entire building is arc shaped, so designing rooms with 90-degree corners in a radial layout required innovative planning. In the end it came out great and was a fantastic project to see through to the end. Another favorite was Maspeth Savings Bank in Queens. Not only because it was the one of the cornerstones of the revitalization of that Queens neighborhood, but it was an award-winning project that required the skilled management of many architectural disciplines. Of course, it was also fulfilling to work on some residential projects right in my own backyard in the Rockaways—especially helping devastated home owners affected by Superstorm Sandy rebuild and return to their storm-resilient new homes ”, Val says with a smile. Valerie also sports a national reputation with the Society of Registered Architects (SARA). She became a Director on the Board for the New York Council of SARA (SARANY) in 2017 and in 2020, joined the Board of Directors for SARA National. As Director on the Board of SARANY and SARA National, Valerie continues to contribute to SARA by assisting in event coordination and by promoting participation among young architects, associate architects, and students. Valerie feels that it is important to get the young architects today involved in SARA given her strong belief in “Architect Helping Architect,” which is SARA’s credo. This commitment also transcends into her role as the current Program Manager for the Sean F.Mellon Scholarship Fund. Valerie’s dedication to the profession of architecture led her to become actively involved and a strong asset to these not-for-profit educational organizations. The post Valerie R. Costa Commemorates 10 Years with MJM+A Architects, and is Named Associate by Partner Ryan Scipione appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLY18 hr. 27 min. ago Related News

RADCO Acquires Solis Reynolds Place in Atlanta; Multifamily Property Rebranded as Lyra by Radius

The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of Solis Reynolds Place, a newly constructed 228-unit multifamily asset located in Duluth, Georgia, a northeast Atlanta suburb. The luxury property is being renamed “Lyra by Radius.” RADCO’s top-tier Radius brand includes other Atlanta... The post RADCO Acquires Solis Reynolds Place in Atlanta; Multifamily Property Rebranded as Lyra by Radius appeared first on Real Estate Weekly. The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of Solis Reynolds Place, a newly constructed 228-unit multifamily asset located in Duluth, Georgia, a northeast Atlanta suburb. The luxury property is being renamed “Lyra by Radius.” RADCO’s top-tier Radius brand includes other Atlanta area properties including The M by Radius, Radius West Midtown, and the recently acquired Gibson by Radius. Newly built in 2022, Lyra by Radius is in the heart of popular Gwinnett County, deemed one of the top 10 fastest growing counties in the U.S. and the epicenter of the northeast Atlanta job corridor with connectivity to nearby major employment hubs. The property is also conveniently located along I-85, providing access to the best of Gwinnett County and Duluth’s upscale retail, dining and entertainment venues. “I am delighted to announce that RADCO acquired the freshly rebranded Lyra by Radius,” said Norman Radow, CEO of the RADCO Companies. “Lyra by Radius is an incredible brand-new community in Duluth Georgia, a thriving suburb just north of Atlanta. The property is well thought out and beautifully built. It experienced an impressive leasing velocity and, having only received CO in July, the property is already nearly fully stabilized. RADCO now owns four core multifamily communities in Atlanta under our Radius brand.” “We couldn’t be more excited to acquire this phenomenal property from Terwilliger Pappas, one of the best developers in the Southeast,” said Keanan Gomez, VP Investments of the RADCO Companies. “This property aligns perfectly with our investment strategy of targeting newly delivered, high-quality properties in the early-middle stages of lease-up; a deal profile we will continue targeting into 2023. The transaction was made possible by our deep capital market relationships, spearheaded by CIO Lisa Hurd and VP Nicoletta DeSimone, which allowed us to put together an accretive capital stack in what has proven to be the most difficult debt market of the last decade.” The building consists of one-, two-, and three-bedroom apartments and the high-end units include gourmet kitchens with stainless steel appliances, granite countertops throughout, and condo-style closet systems. Additional apartment features include walk-in showers, energy-efficient LED fixtures, plank flooring, and large terraces and balconies. The property offers building-wide Wi-Fi and ample greenspace with sitting areas. The resort-style saltwater pool and sundeck boast poolside cabanas and lounges. Other community features include flexible co-working spaces, a cinema lounge, game room, dog park, and indoor pet spa with washing and drying stations. A Newmark brokerage team led by Derrick Bloom and Hunter Amos arranged the transaction. The post RADCO Acquires Solis Reynolds Place in Atlanta; Multifamily Property Rebranded as Lyra by Radius appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLY18 hr. 27 min. ago Related News

5 Lead-Generating, Network-Growing Events for Any Weather

Whether your neighborhood and town is spreading salt and shoveling snow, sandbagging for the rainy season or planning holiday beach barbeques, you should still be thinking about getting your community together for events. In the slower part of a year that has already been relatively sluggish for many, now might be the best time to… The post 5 Lead-Generating, Network-Growing Events for Any Weather appeared first on RISMedia......»»

Category: realestateSource: RISMEDIADec 4th, 2022Related News

Governor Hochul Announces Completion of $82M Affordable and Supportive Housing Development in Brownsville

Governor Kathy Hochul today announcedthe completion of 160 affordable and supportive homes and over 25,000 square feet of health-focused community space in Brownsville, Brooklyn. Known as Vital Brookdale, the $82 million development is the first of ten affordable housing developments to be completed under the Vital Brooklyn Initiative to address... The post Governor Hochul Announces Completion of $82M Affordable and Supportive Housing Development in Brownsville appeared first on Real Estate Weekly. Governor Kathy Hochul today announcedthe completion of 160 affordable and supportive homes and over 25,000 square feet of health-focused community space in Brownsville, Brooklyn. Known as Vital Brookdale, the $82 million development is the first of ten affordable housing developments to be completed under the Vital Brooklyn Initiative to address historic inequities and disinvestment in Central Brooklyn.  “Central Brooklyn’s critical health and housing needs have gone unmet for far too long, but in response we are approaching them with bold and innovative solutions,” Governor Hochul said. “Thanks to the Vital Brooklyn Initiative, we are working closely with local partners to create more housing, improve access to health care, and provide the types of supportive services that residents need to thrive. Vital Brookdale is the latest example of my administration’s commitment to boosting the supply of quality of affordable homes for all New Yorkers.” Vital Brookdale complements Governor Hochul’s goal of achieving two million climate friendly homes by 2030 and her sweeping plans to make housing more affordable, equitable, and stable. In the FY 2023 State Budget, the Governor introduced and successfully secured a $25 billion, five-year, comprehensive housing plan will increase housing supply by creating or preserving 100,000 affordable homes across New York including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. The development is part of the state’s $1.4 billion Vital Brooklyn Initiative that is addressing chronic social, economic, and health disparities in Brooklyn’s high-need communities by creating 4,000 units of affordable housing. Located at 535 E. 98th St 11212, Chandler-Waterman’s district, Vital Brookdale is a 160-apartment, seven-story building with 36 units set aside as supportive housing. There are 10 apartments for youth aging out of foster care and 26 apartments for individuals with intellectual and/or developmental disabilities. On-site supportive services are provided by The New York Foundling. For the youth aging out of foster care, assistance is in concert with the NYS Office of Children and Family Services through participation in the Empire State Supportive Housing Initiative.  Supportive services for the individuals with intellectual and/or developmental disabilities are supported by the NYS Office for People With Developmental Disabilities. There are 32 studios, 63 one-bedroom, 59 two-bedroom, and six three-bedroom units. Most of the apartments will be reserved for households earning at or below 60 percent of the Area Median Income with 26 reserved for households earning up to 80 percent of the AMI. The 25,000 square feet of health-focused community space will offer a medical clinic run by Brookdale Hospital, a community job training program, a community fresh food program and office space for The New York Foundling. Residents have access to a second-floor terrace, and landscaped front and rear courtyards with a dog run, playground, and passive recreation and seating areas. There is free building-wide wireless internet access, in keeping with the Governor’s goal of eliminating the digital divide; a multi-purpose community room; game room; library/resident co-working space; fitness room; laundry room; cold-storage locker and package rooms; and a bike storage room. The development is pursuing Passive House Institute US (PHIUS) + 2015 certification, an international standard of building for maximized energy efficiency. Vital Brookdale has a 100kW roof-mounted solar photovoltaic system, high performance mechanical systems, insulation and windows, LED lighting, low-flow water fixtures, along with other energy efficient measures to enhance comfort, affordability, and sustainability. The development team includes MDG Design + Construction, Smith & Henzy Affordable Group and The New York Foundling. State financing for Vital Brookdale includes $13.9 million in permanent tax-exempt bonds, federal Low-Income Housing Tax Credits that will generate $32.8 million in equity and an additional $30.4 million in subsidy from New York State Homes and Community Renewal. NYSERDA’s Multifamily New Construction Program will provide $300,000 in support along with more than $161,000 in NY Sun incentives. The New York State Office for People With Developmental Disabilities will provide funding for supportive services and rental subsidies for 26 supportive units and the New York State Office of Mental Health will provide funding for supportive services and rental subsidies for 10 supportive units. Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Vital Brookdale exemplifies how the state’s Vital Brooklyn Initiative is improving access to healthcare, quality housing, job training, and community services. This $82 million investment created 160 new affordable homes in a building that has been designed to meet the highest standards for sustainability while providing valuable community space and a home for healthcare facilities that serve the neighborhood. Through this type of supportive and health-focused development, we are increasing the supply of much-needed housing and addressing decades of entrenched inequities in Central Brooklyn’s neighborhoods.” New York State Office for People With Developmental Disabilities Commissioner Kerri E. Neifeld said, “We are excited to be part of the Vital Brookdale project, along with our fellow state agencies, and our provider partners.  The 26 units set aside for people with developmental disabilities increases people’s opportunity to secure safe and affordable housing in their communities. We applaud Governor Hochul for leading the expansion of integrated and affordable housing opportunities for New Yorkers with developmental disabilities.” Office for Children and Family Services Commissioner Sheila J. Poole said, “I commend and congratulate Governor Hochul on Vital Brookdale and the safe, affordable housing options and critical supports it will provide for young people who need it most. This investment allows OCFS’ longstanding commitment to ensuring stability for youth in foster care to extend into early adulthood. I cannot emphasize enough the importance of housing, as well as funding for on-site services for young people aging out of foster care. Having a home provides a sense of security and empowerment that is essential for transitioning to a new, exciting phase in their lives. It is equally important to have access to vital programs as they look toward a brighter future.” New York State Energy Research and Development Authority President and CEO Doreen M. Harris said, “NYSERDA congratulates the Vital Brookdale team as they cut the ribbon on this affordable housing complex that demonstrates a commitment to providing exceptional Passive House building performance to ensure the comfort and safety of Central Brooklyn’s residents. From clean renewable solar energy collected on the rooftop to numerous energy efficient interior and exterior features, this project is a model for sustainable development and supports Governor Hochul’s goal to develop 2 million climate friendly homes by 2030.” Senator Kirsten Gillibrand said, “Affordable housing is becoming increasingly hard to find in New York City, harming neighborhoods like Brownsville that have been historically impacted by disinvestment and marginalization,” said US Senator Kirsten Gillibrand. “This is an important first step in addressing the major housing issue in our state and I want to thank Governor Hochul and the Vital Brooklyn Initiative for investing resources into creating affordable homes in neighborhoods like Brownsville.” Representative Yvette D. Clarke said, “Ensuring every New Yorker and their families have safe, warm spaces to call their own is more than our duty as public servants, but our humanitarian and moral obligation – one that has for far too long been neglected to the detriment of countless lives. Thankfully, recent years are changing that critical tide. The Vital Brookdale development represents the first piece in a series of efforts that will not only bring homes to our most vulnerable Brooklynites, but revitalize the communities they belong to. The only way to overcome the many long-standing inequities afflicting our state is to put in the necessary groundwork, and I am ecstatic to see Governor Hochul and her administration’s commitment towards doing just that.” State Senator Roxanne J. Persaud said, “I thank NYS Homes & Community Renewal, Brookdale Hospital, New York Foundling and the project developers for bringing Vital Brookdale to fruition. Vital Brookdale will provide 160 units of critically needed housing in the Brownsville neighborhood, with the majority being available to households earning up to 60% of Area Median Income (AMI).  It is heartening that nearly one quarter of the apartments will have on-site supportive services for youth aging out of foster care or individuals with developmental disabilities.” Assemblywoman Monique Chandler-Waterman said, “Projects like Vital Brookdale are a critical piece in righting the wrong of a wealthy city that is underhoused, where 65,591 people sleep in city shelters, and the lack of support services that ensure our most vulnerable community members remain housed is insufficient. Not only is this a much-needed project, but it also fulfills a need for environmentally friendly, sustainable projects. New York State’s Vital Brooklyn Initiative, which includes Vital Brookdale, is proof of what can be done when there is a will. I want to thank Governor Hochul, Office for People With Developmental Disabilities, Office for Children and Family Services, MDG Design and Construction, Smith & Henzy Advisory Group, and The New York Foundling for their work placing affordable, accessible housing in a community where there is a dire need. I look forward to more projects like this one.” Brooklyn Borough President Antonio Reynoso said, “The only way to build our way out of the housing crisis is the right way: with a commitment to affordability, to supportive services, and to developments that recognize the distinct needs of the people who call these apartments home. With wireless internet for all, green spaces, and amenities like a fitness room, laundry facility, and bike storage, Vital Brookdale is helping us raise the standard for affordable living in Brownsville and across Brooklyn. Thank you to our city and state partners for their hard work making Vital Brookdale a reality.” MDG Design + Construction, Principal Matthew Rooney Jr. said, “Vital Brookdale is the type of development that future developments will be modeled after. It has community-based healthcare, beautiful outdoor areas, green, sustainable features, and apartments that are completely modernized yet truly affordable. The residents of Vital Brookdale will lead safe and productive lives, and those who need services will have access to them thanks to the community development programs located on-site. Thank you to our partners for bringing this project to life and dedicating themselves to making Brownsville a stronger more resilient community.” Smith & Henzy Affordable Group Principal and Owner Timothy Henzy said, “The success of Vital Brookdale is the result of the combined efforts of the Brooklyn Community and the State of New York.  We are thrilled that we were provided the opportunity to partner with the community and State to make their vision for sustainable affordable housing a reality.” The New York Foundling President and CEO Melanie Hartzog said, “We are grateful to the administration for their partnership in helping create Vital Brookdale, offering opportunity and promise for the people and communities that The New York Foundling serves. At The Foundling, we continue to look for impactful ways to uplift youth aging out of foster care and people with developmental disabilities. We see Vital Brookdale as one example of many more to come that demonstrates the mutual good that stems from providing opportunities for our neighbors to reach their full potential. It’s been a true joy to watch our residents’ confidence grow as a result of having the resources necessary to succeed on their paths to independence.” One Brooklyn Health CEO LaRay Brown said, “One Brooklyn Health is very pleased to be part of this exciting project and the Vital Brooklyn Initiative. Safe affordable housing and accessible health care are inextricably linked and intrinsic to the economic stability of a community. We look forward to continuing to work with each of the partners in serving the families who will make this remarkable building home.” Revitalizing Central Brooklyn Central Brooklyn has long suffered from disinvestment and marginalization that hinder the wellbeing of its residents. Residents experience measurably higher rates of health problems; limited access to healthy foods or opportunities for physical activity; and high rates of violence and crime. Central Brooklyn is also affected by wide economic disparities due to unemployment, high poverty levels, and inadequate access to high quality health care. Ten development projects currently underway or completed and chosen through a competitive process, are the keys to advancing the Vital Brooklyn initiative’s commitment to creating 4,000 affordable homes in Central Brooklyn, incorporating social, medical, and community services; recreational and educational opportunities; family housing; and apartments with supportive services. About the Vital Brooklyn Initiative The Vital Brooklyn Initiative was launched in spring 2017 to address the range of disparities that affect residents of Brooklyn and to create a new model for community development and wellness in Brooklyn’s most vulnerable communities. Each Assembly Member in Central Brooklyn convened a Community Advisory Council consisting of community leaders, local experts, advocates, and other stakeholders to consider the unique needs and opportunities in their districts, and to develop long-term solutions. State Senators representing parts of Central Brooklyn were also actively engaged in the process. A total of 25 community meetings brought together nearly 100 key community stakeholders.  RFPs for the ten sites were released in 2018 and 2019, with development partners selected through 2020. Five projects have begun construction, with the remaining projects and phases beginning over the next few years. The post Governor Hochul Announces Completion of $82M Affordable and Supportive Housing Development in Brownsville appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Institutional Property Advisors Brokers Sale of Dominant New Jersey Power Center

 Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Consumer Centre, a 293,087-square-foot power center located at 310 Route 36 in West Long Branch, New Jersey. West Long Branch is in Monmouth County, an immediate bedroom community serving New York City. The sales price is approximately... The post Institutional Property Advisors Brokers Sale of Dominant New Jersey Power Center appeared first on Real Estate Weekly.  Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Consumer Centre, a 293,087-square-foot power center located at 310 Route 36 in West Long Branch, New Jersey. West Long Branch is in Monmouth County, an immediate bedroom community serving New York City. The sales price is approximately $63 million, or $215 per square foot. “Institutionally owned by Site Centers, a publicly traded real estate investment trust (NYSE: SITC), for almost 20 years, Consumer Centre is one of the many outstanding power centers within their core metro market portfolio in NYC,” said Brad Nathanson, IPA senior managing director. “Currently 96% occupied, the property is anchored by one of the top-performing Home Depots in the region, operating out of 101,150 square feet, which has been a tenant since the center was constructed in 1993.” Nathanson represented the seller, Site Centers Inc. and identified the buyer, Paramount Realty Services.  “Consumer Centre is arguably the best-located and tenanted shopping center on the vibrant Route 36 corridor of Central New Jersey, anchored by a first-class roster of tenants including Dick’s Sporting Goods, Buy Buy Baby, Ulta, DSW, PetSmart, and Five Below, attracting over 2 million visits in the previous 12 months, according to Placer.ai,” Nathanson continued. “There is tremendous demand for dominant power centers nationally, given the rebound in the markets post-COVID and the resiliency of value-oriented junior box retail. In fact, demand is outpacing the supply of premier, high-performing primary market assets like Consumer, especially with high construction costs and supply shortages that have put a damper on new retail construction within the recent past. We will have seen more power centers that have traded in the past 18 months versus the previous three years, given the rebound in the sector,” Nathanson concluded. John Horowitz, first vice president and division manager is Marcus & Millichap’s broker of record in New Jersey. The post Institutional Property Advisors Brokers Sale of Dominant New Jersey Power Center appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Treetop Acquires 112,000 SF Office Building and Two Adjacent Land Parcels on Route 22 E in Bridgewater, NJ for $27 Million

CBRE today announced it has arranged the $27 million acquisition of three properties—1200, 1210 and 1220 Route 22 E in Bridgewater, NJ. Treetop, a leading real estate investment and development firm, acquired the properties from Bridgemark Hospitality. The CBRE Tri-State Investment Properties team of Elli Klapper, Charles Berger, Jeremy Wernick,... The post Treetop Acquires 112,000 SF Office Building and Two Adjacent Land Parcels on Route 22 E in Bridgewater, NJ for $27 Million appeared first on Real Estate Weekly. CBRE today announced it has arranged the $27 million acquisition of three properties—1200, 1210 and 1220 Route 22 E in Bridgewater, NJ. Treetop, a leading real estate investment and development firm, acquired the properties from Bridgemark Hospitality. The CBRE Tri-State Investment Properties team of Elli Klapper, Charles Berger, Jeremy Wernick, and Mark Silverman worked in conjunction with Advisory & Transaction’s Donald Sperling to bring the transaction to a successful conclusion. “This unique assemblage sale combines two very different types of transactions,” said Mr. Klapper. “Treetop not only purchased a fantastic value-add medical office building, but they also purchased two adjacent land lots for future development.” “Developers and investors recognize the importance of a strong in-place income stream, but also see the crucial need for developable land in today’s volatile market,” added Mr. Berger. “Since the pandemic there has been a major shift towards development, especially ones in strategic locations with excellent proximity to major transportation options.” “We are excited about the opportunity to purchase a well maintained and well occupied cash flowing asset while we seek the approvals to construct an industrial building on the adjacent vacant land,” said Azi Mandel, principal of Treetop Development.    1200-1220 Route 22 E is located just minutes from I-287, providing direct access to major thoroughfares throughout New Jersey and New York and Port Newark/Elizabeth. Its last mile location is within close proximity to the strongest consumer markets in the Northeast. The post Treetop Acquires 112,000 SF Office Building and Two Adjacent Land Parcels on Route 22 E in Bridgewater, NJ for $27 Million appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Marx and Benenson Announce 3,275-Square-Foot Lease With Savage x Fenty at Cross County Center in Yonkers, NY

 Marx Realty, a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced that Rihanna will be bringing her Savage X Fenty product line to 3,275 square feet of space at Cross County Center in Yonkers, NY. “The Savage X Fenty brand has... The post Marx and Benenson Announce 3,275-Square-Foot Lease With Savage x Fenty at Cross County Center in Yonkers, NY appeared first on Real Estate Weekly.  Marx Realty, a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced that Rihanna will be bringing her Savage X Fenty product line to 3,275 square feet of space at Cross County Center in Yonkers, NY. “The Savage X Fenty brand has disrupted the lingerie sector and we are excited that Cross County Center has been selected for the company’s flagship location in New York,” said Craig Deitelzweig. “The brand adds a fresh pop-culture vibe to the center, which is already brimming with well-known brands and boasts a lifestyle experience like none other. We remain committed to creating and providing an unforgettable experience at Cross County from dining and entertainment to an exciting retail offering and Savage X Fenty will be an amazing addition.” Savage X Fenty signed a long-term lease at one of the most prominent corners at Cross County Center, previously occupied by New York & Company. Savage X Fenty was represented in-house on the deal. The asking rent was $225 per square foot. “This is one of a small handful of brick-and-mortar locations for Savage X Fenty and the fact that the team chose Cross County Center speaks volumes about the Center’s strong appeal for well-known, celebrated brands,” continued Deitlelzweig. Jointly owned by Marx Realty and Benenson Capital Partners, the 1.15 million-square-foot Cross County Center was the first open-air center in the United States when it opened in 1954. Marx Realty took over management of the center in 2019 and successfully navigated one of the most challenging real estate cycles in recent history, bringing Target to 130,000 square feet of space and signing SUNY Westchester to a 40,000-square-foot lease. This year, Marx Realty brought over 104,000 square feet of leases to Cross County Center. Forever 21 also signed a 29,720-square-foot lease renewal while A│X Armani Exchange signed a seven-year renewal for their 5,025-square-foot space in the center and Zara renewed and expanded to 29,500 square feet. H&M also signed a 10-year lease renewal to occupy 28,000 square feet where the retailer has incorporated its urban SOHO concept and is investing $5 million in the location. The outdoor lifestyle center is located at the intersection of Cross County Parkway and I-82, attracting over 14 million visitors annually from the tri-state region. Cross County Center has attracted many of the top names in retail and dining including the first Shake Shack and only Zara location in Westchester County. “We strive to bring a one-of-a-kind experience to the region via our efforts to give tenants and visitors a diverse mix of retail, dining and entertainment options,” said Jim Stifel, chief investment officer of Benenson Capital. “As we look ahead to the next evolution of the Cross County Center experience, it continues to dominate as one of the nation’s premiere mixed-use centers, attracting a wide variety of best-in-class retail, restaurant and office users and we’re thrilled to welcome Savage X Fenty to the mix.” Savage X Fenty celebrates fearlessness, confidence and inclusivity with its fashion-forward styles and well-appointed retail locations in prominent regional centers. Additional brick and mortar outposts can be found in Las Vegas, NV; Houston, TX; Culver City, CA; Phildelphia, PA and Arlington, VA.  The post Marx and Benenson Announce 3,275-Square-Foot Lease With Savage x Fenty at Cross County Center in Yonkers, NY appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Basis Industrial Completes $32 Million Orlando Acquisition, Buys Self-Storage Development Site in Melbourne, Florida

Basis Industrial, a privately held and vertically integrated real estate owner and operator, continued its flurry of acquisitions with the $32 million purchase of a mixed-use asset in the Orlando market. The newly acquired assets total 254,000 square feet, with 150,000 square feet of multi-tenant flex space and 100,000 square... The post Basis Industrial Completes $32 Million Orlando Acquisition, Buys Self-Storage Development Site in Melbourne, Florida appeared first on Real Estate Weekly. Basis Industrial, a privately held and vertically integrated real estate owner and operator, continued its flurry of acquisitions with the $32 million purchase of a mixed-use asset in the Orlando market. The newly acquired assets total 254,000 square feet, with 150,000 square feet of multi-tenant flex space and 100,000 square feet of office suites. The acquisition of the 7550-7800 Southland Blvd. property closed on Nov. 30. Following the closing, Basis now owns and manages more than 1.1 million square feet of multi-tenant industrial and mixed-use real estate. This transaction also brings the firm’s total portfolio in the Orlando market to over 600,000 square feet. “We are extremely bullish on the Orlando market, as strong population growth and the evolving distribution landscape has increased the need for high-quality and well positioned industrial assets,” said Basis Industrial CEO Daniel Weinstein. “One of our first industrial transactions was in Orlando and we plan to continue growing our footprint there.” The Orlando acquisition immediately follows Basis closing on a four-acre development site in Melbourne – part of Florida’s Space Coast region. Basis plans to develop a Class A self-storage facility with 125,000 square feet on the 2480 Aurora Road site, which it purchased on Nov. 22. The firm’s roots are in self-storage, and it remains active in the sector with a more selective focus on acquisition targets. In only nine months since its initial launch, Basis has amassed a vast portfolio of existing multi-tenant industrial and self-storage space and development sites – with a focus on Florida and the Sun Belt. Basis has active developments in 12 states. The firm is becoming Florida’s largest small-bay industrial owner and operator. “We are perhaps the only group actively acquiring and self-managing in this asset class,” said Basis Industrial Chief Operating Officer | Partner Anthony Scavo. “Our in-house management company BaySpace and decades of institutional experience enables us to take on the work involved with managing properties that – in some instances – have more than 200 tenants. We continue to see opportunities in this uncertain market and plan to capitalize on the right deals.” Other recent Basis acquisitions include: The Space Coast portfolio purchase of seven distinct properties across Melbourne and Cocoa, Florida. The 25 buildings total more than 275,000 square feet. Basis has the ability to add an additional 15,000 square feet, bringing the total to more than 290,000 square feet The former Belle Avenue Commerce Center in Orlando, now called BaySpace Belle, a small-bay industrial park that Basis is expanding with an additional 7,500 square feet to bring the total size to 193,000 square feet A 70,000-square-foot, multi-tenant industrial building in St. Petersburg now called BaySpace St. Pete The former Megacenter Palmetto, a 180,000-square-foot mixed-use building comprised of self-storage, small-bay industrial and coworking suites, in Miami. The building is now branded as BaySpace Medley An additional 33,000-square-foot small-bay industrial building in Orlando, now called BaySpace OWG Basis uses its subsidiary management company, BaySpace, to manage the company’s industrial assets. The post Basis Industrial Completes $32 Million Orlando Acquisition, Buys Self-Storage Development Site in Melbourne, Florida appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

FNRP Add Bishops Corner to Connecticut Portfolio

 First National Realty Partners, LLC (FNRP) today announced the addition of Bishops Corner to its grocery-anchored shopping center portfolio. This 259,104-square-foot asset marks the vertically integrated real estate firm’s expansion in Connecticut and continues its nationwide growth in the open-air retail property sector.   Bishops Corner is anchored by a 59,000-square-foot Target,... The post FNRP Add Bishops Corner to Connecticut Portfolio appeared first on Real Estate Weekly.  First National Realty Partners, LLC (FNRP) today announced the addition of Bishops Corner to its grocery-anchored shopping center portfolio. This 259,104-square-foot asset marks the vertically integrated real estate firm’s expansion in Connecticut and continues its nationwide growth in the open-air retail property sector.   Bishops Corner is anchored by a 59,000-square-foot Target, which has been a tenant since 2019. The center’s tenant roster features a strong mix of necessity-based national retailers including junior anchor Marshalls/HomeGoods, The Paper Store, Mattress Firm, Orange Theory, AT&T, Bank of America, TD Bank, Noodles & Company, GNC, Subway and Massage Envy. The remaining 14,000 square feet of vacant space provides meaningful upside potential by way of increased occupancy and cash flow. “Bishops Corner is the top-ranked strip/convenience center in Connecticut in terms of customer visits, according to Placer.ai,” said Stephen Joseph, director of acquisitions. “With its diverse lineup of destination tenants and strategic regional location, the property not only benefits from the submarket’s exceptional demographics, but it is well positioned to attract customers from a wide geographic trade area.”  Situated in a densely populated, highly affluent retail corridor approximately four miles west of the state capital of Hartford, Bishops Corner sees combined traffic counts of over 40,000 vehicles per day. It serves a population of more than 216,000 people, within a five-mile radius of the center, with average household incomes within a one-mile radius that exceed $176,000. Paul Penman of Newmark represented the seller in the Bishops Corner transaction.  FNRP’s Connecticut portfolio also includes Sand Hill Plaza in Newtown. FNRP provides accredited investors with access to real estate assets that traditionally have been available only to institutional investors. The Red Bank, N.J.-based firm sources opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100% in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas. The firm strives to achieve maximum value and attractive risk-adjusted returns for its partners.     The post FNRP Add Bishops Corner to Connecticut Portfolio appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Shutters on the Beach and Interior Designer Barclay Butera Create a Holiday Wonderland in Santa Monica

The holidays officially arrived in Santa Monica, when Shutters on the Beach unveiled its seasonal transformation featuring holiday décor and boutique by renowned interior designer and arbiter of Southern California style, Barclay Butera. Butera reimagines the Shutters entrance and oceanfront lobby as a chic holiday wonderland, dressed in glittering décor custom-designed exclusively for... The post Shutters on the Beach and Interior Designer Barclay Butera Create a Holiday Wonderland in Santa Monica appeared first on Real Estate Weekly. The holidays officially arrived in Santa Monica, when Shutters on the Beach unveiled its seasonal transformation featuring holiday décor and boutique by renowned interior designer and arbiter of Southern California style, Barclay Butera. Butera reimagines the Shutters entrance and oceanfront lobby as a chic holiday wonderland, dressed in glittering décor custom-designed exclusively for the hotel. Complementing the lobby transformation is a new Barclay Butera Boutique at Shutters on the Beach for the month of December. “We are delighted to celebrate festive season with design visionary Barclay Butera! Barclay’s aesthetic perfectly complements Shutters’ classic beach house style,” said Christophe Baraton, General Manager of Shutters on the Beach. “We look forward to welcoming our guests and neighbors to our beachside wonderland.” Guests will be awed upon arrival as they are greeted by an illuminated coral tree wrapped in sparkling lights. A holiday glow is cast from the lush landscaping as thousands of miniature white lights. Photo opportunities abound at the hotel entrance as regal nutcrackers stand tall, hand- painted in Shutters’ signature blue and the dazzling “Shutters Sleigh” surrounded by snow-kissed silver crowns and Christmas trees beckoning you to climb in. Inside the lobby, a nine-foot noble fir Christmas tree sparkles with thousands of lights and hundreds of hand-blown sea inspired glass ornaments.  Elegant magnolia wreaths and garland fill the lobby. Hand woven into cascading garland, the leaves are accentuated by white flowers. Pillows in rich patterns, textures and fabrics, complement all seating with ultra-soft luxurious throws for extra comfort. Just beyond the lobby, the public is invited to shop this exquisite holiday look at the Barclay Butera Boutique, a chic jewel box of eclectic home décor, situated on the ground floor of the hotel. The boutique features furnishings from Barclay Butera’s collection for Lexington  Home Brands, alongside an assortment of hand poured candles, diffusers, one-of-a-kind shell and coral pieces, handblown glass in distinct shapes, blue and white ginger jars, signature picture frames, pillows and throws, bar accessories, bathroom accessories, original art, baskets, totes, and more. The Barclay Butera Boutique is open seven days a week, 10:00am to 8:00pm. “It has been a pleasure to partner with Shutters on the Beach to curate a space where guests can celebrate the season and create lasting memories,” said Barclay Butera, owner of Barclay Butera Interiors. “Bringing the spirit of the holidays to this exquisite setting excites me and is truly special. The inviting and magical energy here make Shutters the perfect venue for any holiday getaway or event.” After picking up a holiday gift or design accent for one’s home, guests and locals alike are invited to gather for pre-dinner drinks or evening nightcap by the fireplace in the lobby  Living Room, accompanied by live entertainment nightly; a casual lunch at Coast; or dinner and weekend brunch at Shutters’ signature restaurant, 1 Pico. For more information about Shutters on the Beach or to book a stay, please call 866.527.6612 or visit www.shuttersonthebeach.com. The post Shutters on the Beach and Interior Designer Barclay Butera Create a Holiday Wonderland in Santa Monica appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Newmark Awarded Leasing Assignment of Largest Industrial Park in Spanish Fork, Utah

Newmark announces it has been awarded the leasing assignment of El Tenedor Logistics Center, a five-building Class A industrial park. Phase I, comprising 253,580 square feet, is slated for completion in the fourth quarter of 2023. Newmark Executive Managing Directors Kyle Roberts and Jeff Heaton and Senior ManagingDirector Ben Richardson... The post Newmark Awarded Leasing Assignment of Largest Industrial Park in Spanish Fork, Utah appeared first on Real Estate Weekly. Newmark announces it has been awarded the leasing assignment of El Tenedor Logistics Center, a five-building Class A industrial park. Phase I, comprising 253,580 square feet, is slated for completion in the fourth quarter of 2023. Newmark Executive Managing Directors Kyle Roberts and Jeff Heaton and Senior ManagingDirector Ben Richardson have been assigned to lease the forthcoming project on behalf of the developers, Wadsworth Development Group and Co-General Partner Colmena Group. Located at 560 W 1000 N Spanish Fork, the industrial park is being built in roughly three phases. Features will include an ESFR fire sprinkler system, light manufacturing zoning, a gas heated warehouse, 6” reinforced concrete slab, 32’-36’ clearance height, LED lighting, a build-to-suit office and an abundance of on-site parking. “We are thrilled to lease this thoughtfully designed, state-of-the-art industrial project,” saidRichardson. “The space is optimized for e-commerce and logistics users and ideally locatedproviding excellent connectivity to the West.” Roberts added, “The South Utah County location provides a unique nexus of labor availability and freight proximity to the Los Angeles/Long Beach Port Complex. With approximately 60% of the nutraceutical, food grade and health and beauty products manufactured in the region moving through the ports to consumption bases in the Asia Pacific region, the site is ideal for growing manufacturing and supporting distribution activities to consolidate and save both labor and transportation costs. This, in addition to the projected population growth for the region, creates a unique recipe for success.” The Utah industrial market saw delayed construction deliveries in the third quarter of 2022pushing direct vacancy up to 2.3%, according to Newmark Research. The low net absorption total for the third quarter of 2022 belies a robust and dynamic market, albeit with concerns ahead of high inflation and expected interest rate hikes. The Salt Lake City Metro area is well positioned for the long term with strong population growth; a young, educated work force; a lower cost of doing business relative to many other Western U.S. metros; and an advantageous position in the crossroads of the West, with well-connected transportation infrastructure. The post Newmark Awarded Leasing Assignment of Largest Industrial Park in Spanish Fork, Utah appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Allure 258 Surges to 75% Leased in East Orange, NJ

Allure 258, the new lifestyle-driven rental building that has boosted the residential appeal and popularity of a fast-growing neighborhood in East Orange, NJ with bold architectural design, inspired amenities and compelling price points, continues to attract residents from throughout the region, with 75% of the building’s 213 expansive residences now leased.... The post Allure 258 Surges to 75% Leased in East Orange, NJ appeared first on Real Estate Weekly. Allure 258, the new lifestyle-driven rental building that has boosted the residential appeal and popularity of a fast-growing neighborhood in East Orange, NJ with bold architectural design, inspired amenities and compelling price points, continues to attract residents from throughout the region, with 75% of the building’s 213 expansive residences now leased. Located at 258 S. Harrison Street near NJ TRANSIT’s Brick Church Train Station, the visually-captivating 18-story high-rise features a collection of well-appointed studios, one- and two-bedroom apartments with floor-to-ceiling windows and available outdoor terraces maximizing natural light and eye-catching views of the Manhattan skyline. A full suite of indoor and outdoor amenities, including 24-hour concierge, a rooftop resident’s lounge, outdoor landscaped Skydeck, and onsite enclosed parking, enhance resident lifestyles. Monthly rents currently start from $1850, with one month free offered for a limited time.  Immediate occupancy is available.    Developed by Newark-based Blackstone 360 (B360), Allure 258 represents the crown jewel of the developer’s decade-plus effort to elevate a swath of South Harrison Street with new modern, mixed-use developments that have attracted diverse groups of people and added to the vitality and sustainability of the neighborhood. With five amenity-rich buildings now completed, B360 has introduced approximately 900 new residences to the area, infusing a once-overlooked section of town with a melting pot of both local and new residents who want a lifestyle that aligns with their personal and professional aspirations.  “In many ways, Allure 258 is the capstone of what we’ve created here along South Harrison Street,” said S. Airaj Hasan, President and CEO of B360.  “This is truly a Class A residential property in terms of quality, design, amenity programming and services, all near mass transit.  We’re thrilled that it has resonated with residents who can live in more high-profile locations and have chosen to do so here.” Modern Living Spaces Designed by INOA Architecture, Allure 258’s 18-story glass-clad façade amplifies the neighborhood’s expanding canvas of new modern buildings.  Inside, bright and airy living spaces feature bold, industrial-luxe design, full-size, stainless-steel appliances, in-unit washer and dryer, quartz countertops, porcelain tile, brushed oak hardwood flooring, and tinted, black glass cabinetry. Hotel-Inspired Amenities, Inside and Out B360 shaped Allure 258’s lifestyle experience with a robust offering of indoor and outdoor amenities that includes an attended lobby, 24-hour concierge, state-of-the-art fitness center, package room, party room which can be reserved for private gatherings, a conference room, work-from-home spaces, and a rooftop lounge. An expansive landscaped roof deck provides coveted outdoor space with multiple seating areas and panoramic vistas.  Residents will also appreciate the building’s secure onsite covered parking garage and shuttle service to Newark Penn Station. “Allure 258 was the logical next step for this neighborhood and our commitment to the area,” said Alina Zafar, Director of Marketing and Corporate Relations for B360. “Each new luxury property we introduced provided more evidence that we could build a strong, culturally diverse, highly educated, and professionally successful resident base here.  Allure 258, our largest offering to date, has achieved more of the same.” Commuter Convenience Allure 258 is located along the bustling corridor of S. Harrison Street at the cross-section of East Orange and South Orange and within proximity to major highways like I-280 and the Garden State Parkway. Ideally situated just 12 miles from New York City, residents enjoy convenient mass transit options, with NJ TRANSIT’s Brick Church Train Station just a 15-minute walk from the building providing direct service to Penn Station along the Morris and Essex Line.  For more information on Allure 258 and to schedule a private appointment to tour the building’s model homes and amenities, please call 973-583-3300 or visit www.Allure258.com.  The building is located at 258 South Harrison Street, East Orange, NJ 07018. The post Allure 258 Surges to 75% Leased in East Orange, NJ appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Midwood Investment & Development and EJS Group Announce 150 East 78th Street is 100% Sold

Midwood Investment & Development and EJS Group today announced the total sellout for 150 East 78th Street, a new Upper East Side luxury residential development featuring architecture by award-winning firm Robert A.M. Stern Architects and interiors by AD100 interior designer Robert Couturier. One of Manhattan’s top agents, Alexa Lambert of... The post Midwood Investment & Development and EJS Group Announce 150 East 78th Street is 100% Sold appeared first on Real Estate Weekly. Midwood Investment & Development and EJS Group today announced the total sellout for 150 East 78th Street, a new Upper East Side luxury residential development featuring architecture by award-winning firm Robert A.M. Stern Architects and interiors by AD100 interior designer Robert Couturier. One of Manhattan’s top agents, Alexa Lambert of Compass Development Marketing Group, exclusively handled sales and marketing. Located on the corner of Lexington Avenue and East 78th Street, the 16-story building features 25 residences and multiple levels of carefully curated amenities. 150 East 78th Street recently signed a contract for Duplex Penthouse 11B, a five-bedroom and five-bathroom residence, which was listed for $16,950,000. The home was the last available residence in the building, so its sale heralds 150 East 78th Street being 100% sold. In addition, an over $33,000,000 residence just closed, it is a combined unit of the top two penthouse floors of the building. In addition, the popular French patisserie Angelina Paris signed a lease to open a new location, its second in Manhattan, at the base of the building. “Midwood Investment & Development and EJS Group are proud to have worked alongside the stellar design team to bring 150 East 78th Street to the Upper East Side and offer truly special homes,” said John Usdan, CEO of Midwood Investment & Development. “Compass Development Marketing Group’s Alexa Lambert drove sales of this stunning development with her experience and market expertise and we are thrilled at the building being completely sold.” 150 East 78th is a thoughtfully designed boutique building by Robert A.M. Stern Architects, known for the architecture of Manhattan’s most successful residential buildings, including 15 Central Park West, 220 Central Park South and 70 Vestry. The building’s stately facade features distinctive handset Indiana limestone, patterned brick, and ornamental metalwork. Inspired by the neighborhood, Robert A.M. Stern Architects designed an exterior steeped in New York City Classicism. The 16-story building’s overall aesthetic is refined and distinguished, highlighted by arched windows, limestone pilasters, and rich green metal and glass conservatories. The canopied entrance, located on 78th Street, fits in beautifully with the neighboring townhomes and tree lined streets. “Midwood and EJS Group together have made 150 East 78th Street a destination address on the Upper East Side. The project exemplifies world-class design and has resulted in a truly unique boutique residential and commercial offering,” said Ted Segal, Founder & President of EJS Group. The building’s timeless architecture is married perfectly to the interiors’ prewar sensibility and the Parisian flair of AD100 Hall of Fame designer Robert Couturier. Homes range from three-to-five bedrooms, consisting of half-floor, full-floor, and duplex residences, each with direct elevator access. The homes feature serene and light-filled primary bedrooms, spacious eat-in kitchens designed by Couturier in collaboration with Christopher Peacock, gracious great rooms perfectly suited for entertaining and an abundance of natural light. The penthouses also include custom fireplaces and large terraces, offering multiple exposures of Central Park, the East River, Midtown, and the Upper East Side. 150 East 78th Street residents enter the building through a stunning hexagonal shaped residential lobby that evokes a grand style through a hand-finished gold leaf ceiling, decorative plaster crown, thoughtful metalwork and antique finishes. The building also features a curated suite of amenities and services. The Parlor features a billiards table and on-suite catering kitchens for private gatherings. The Athletic Club includes a regulation squash court and regulation-height retractable basketball hoop, state-of-the-art fitness center, private training studio, and multi-sport simulator. The rooftop features a landscaped terrace with seating and dining areas, including a firepit and grill. Additional amenities include a children’s art and activity room, a pet bathing station, bike storage, cold storage, commercial washers and dryers and a 24-hour concierge. “In addition to the residential sell-out, we’ve seen great success with commercial leases at the building as well with the recent signing of Angelina Paris in the base,” said Ron Bondy, EVP of Leasing, Midwood Investment & Development. “Angelina Paris perfectly fits into the fabric of this neighborhood and the building with its elevated store design and celebrated food and beverage offerings.” The post Midwood Investment & Development and EJS Group Announce 150 East 78th Street is 100% Sold appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Alfred Sanzari Enterprises Helps Growing Tech Company Establish Headquarters at Glenpointe

Alfred Sanzari Enterprises, a preeminent family-owned and operated commercial and residential real estate firm, announces that UVeye has signed a lease at Glenpointe Centre West, part of the company’s iconic northern New Jersey Glenpointe corporate campus located in Teaneck, N.J. Alfred Sanzari Enterprises was represented by Newmark’s Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian and David... The post Alfred Sanzari Enterprises Helps Growing Tech Company Establish Headquarters at Glenpointe appeared first on Real Estate Weekly. Alfred Sanzari Enterprises, a preeminent family-owned and operated commercial and residential real estate firm, announces that UVeye has signed a lease at Glenpointe Centre West, part of the company’s iconic northern New Jersey Glenpointe corporate campus located in Teaneck, N.J. Alfred Sanzari Enterprises was represented by Newmark’s Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian and David Simson. Founded in 2016, UVeye is a computer vision technology company powered by artificial intelligence and proprietary hardware that develops automated inspection systems for vehicles. With offices in Israel and Ohio, UVeye has installed systems at over 100 sites across the globe including vehicle manufacturing facilities, dealerships, fleet company lots and logistics centers as well as energy, financial and diplomatic security facilities. Prior to signing its lease for its new headquarters at Glenpointe, UVeye was the first tenant at FLEX Powered by Glenpointe, the campus’ 5,300-square-foot coworking concept built to meet the space needs of individuals and growing companies. The FLEX Powered by Glenpointe space provided the company with the adaptability it needed to continue to grow its footprint and establish a long-term presence in the market. The lease with UVeye builds upon Alfred Sanzari Enterprises’ strong leasing activity at the 670,000-square-foot Glenpointe corporate campus in 2022. Since the start of the year, the firm has negotiated nearly 100,000 square feet of leases with a wide range of companies including Leica Camera, Axia Women’s Health, and HK Kolmar. “We have chosen New Jersey and Glenpointe as our USA headquarters both because of its great facilities and convenient location,” said Yaron Saghiv, Chief Marketing Officer of UVeye. “Our global expansion providing inspection devices for vehicles has been accelerated recently and we plan to scale throughout North America with local teams reporting to our New Jersey office. Thank you to the wider Glenpointe team for their great collaboration and support!” Carolina Gutierrez, Leasing and Marketing Manager for Alfred Sanzari Enterprises added, “UVeye is a shining example of how Glenpointe and specifically FLEX Powered by Glenpointe space can provide the facilities needed for growing companies to continue their upward trajectory. It’s extremely gratifying for our team to play a role in their success, and we are thrilled to have the company plant its roots at Glenpointe.” Focused on providing a unique work-play-stay experience for employees at the dozens of companies that call the campus home, Glenpointe combines adaptable class-A office space with a slate of diverse amenity offerings that are unmatched in the market. The campus boasts the 26,000-square-foot Glenpointe Fitness Center, The Green, a 22,000-square-foot multi-purpose outdoor amenity space, The Pointe, an on-site community lounge, 700 hotel rooms across three on-site hotels, several casual and fine dining options including an on-site full-service Starbucks, abundant covered parking and 24/7 security. Aiming to further enhance the tenant experience, the firm also recently celebrated the grand opening of Marketplace, An Urban Eatery at Glenpointe, a modern dining hall serving seasonal menu offerings and featuring a fully automated system that includes kiosks for in-store ordering and a website for pickup and catering orders. Offering delicious, scratch-made, chef-prepared grab n’ go meals and made-to-order options such as locally roasted coffee from Cofeecol and small-batch chocolates and pastries from Balthazar Bakery, Marketplace, An Urban Eatery has options for any palate.  Glenpointe currently has a range of spaces available from 976 square feet up to full-floor spaces of 52,000 square feet and a contiguous block in excess of 95,000 square feet. Experience firsthand why Glenpointe is considered the tri-state area’s preeminent corporate campus by booking a tour with Jeff Schotz of Newmark at 201-460-5152 or jeff.schotz@nmrk.com. To stay connected with Alfred Sanzari Enterprises and for updates on the latest transactions and news follow Alfred Sanzari Enterprises on Facebook, Twitter, Instagram, and LinkedIn. The post Alfred Sanzari Enterprises Helps Growing Tech Company Establish Headquarters at Glenpointe appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Coldwell Banker Realty New Homes Tapped to Lead Marketing for Two Sussex County Communities

Coldwell Banker Realty New Homes Tapped to Lead Marketing for Two Sussex County Communities.....»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

CBRE Retail Services Team of Marta Villa and Samuel Bernhaut Arrange New Leases Throughout New Jersey

Despite market fluctuations and concerns on inflation, the retail market remains stable in New Jersey. Indicative of this, the CBRE Retail Services team of Marta Villa and Samuel Bernhaut have completed four new retail leases throughout the New Jersey market. Among the most recently completed deals the team arranged are:... The post CBRE Retail Services Team of Marta Villa and Samuel Bernhaut Arrange New Leases Throughout New Jersey appeared first on Real Estate Weekly. Despite market fluctuations and concerns on inflation, the retail market remains stable in New Jersey. Indicative of this, the CBRE Retail Services team of Marta Villa and Samuel Bernhaut have completed four new retail leases throughout the New Jersey market. Among the most recently completed deals the team arranged are: Masa Chip’s 6,000 sq. ft. lease at 600 Corporate Ancient Grains in Lebanon for a production kitchen An adult daycare facility inked a 30,000 sq. ft. lease at 323 Bergen Blvd. in Fairview in a deal arranged by Michelle Choi of Alpine Global on behalf of the tenant Superfresh’s 25,000 sq. ft., 25-year lease commitment at 435 Lexington Avenue in Clifton, negotiatedby Joel Dicker of Bennett Realty for the tenant; and Fitness Superstore’s 7,175 sq. ft. lease at 461 US Highway 46 in Fairfield “Despite concerns over inflation, New Jersey’s retail market continues to attract new tenants,” said Ms. Villa. “In the past few months, we have completed a number of long-term leases with major tenants looking to expand in the market.” “It has been great working with Marta again after her return to CBRE earlier in the year,” added Mr. Bernhaut. “After a very successful 2022,  Marta and I look forward to expanding our collaboration into the new year.” The post CBRE Retail Services Team of Marta Villa and Samuel Bernhaut Arrange New Leases Throughout New Jersey appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News

Arch Companies Tops Out Myrtle Avenue Project

Arch Companies, a vertically integrated real estate owner, operator and developer, has announced the topping out of the firm’s Myrtle Avenue project. This building has 130,000 square feet of retail space which is approximately 60% pre-leased to big box retailers. Thereare also 133 residential units across 78,000 square feet, which... The post Arch Companies Tops Out Myrtle Avenue Project appeared first on Real Estate Weekly. Arch Companies, a vertically integrated real estate owner, operator and developer, has announced the topping out of the firm’s Myrtle Avenue project. This building has 130,000 square feet of retail space which is approximately 60% pre-leased to big box retailers. Thereare also 133 residential units across 78,000 square feet, which will include a 30 percent affordable component under the 421-A program, and 40,000 square feet of parking. “We are very excited about topping off this prime project in Ridgewood, Queens,” said Jeff Simpson, Managing Partner of Arch Companies. “This building is in a great location, and will deliver much-needed residential units as well as retail amenities to the neighborhood. We are pleased with the construction progress and look forward to completing this building on schedule for delivery next year.” Arch began construction on the Myrtle Avenue project early in 2021; and project delivery is expected in The facade installation is underway. Additionally, this building is located just off the L and M lines and is close to the Ridgewood Intermodal Bus Terminal. About Arch CompaniesArch Companies is a vertically integrated real estate owner, operator, and developer with an active investment portfolio of more than 3.4 million square feet across the United States. Arch specializes in real estate investment, development, and management with a concentration on primary and secondary markets. The company has three investment verticals, value add multi-family, ground up development and rescue capital. Arch differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with partners. Arch’s vertically integratedplatform allows for complete control and oversight of the business plan throughout the life cycle of the investment. The post Arch Companies Tops Out Myrtle Avenue Project appeared first on Real Estate Weekly......»»

Category: realestateSource: REALESTATEWEEKLYDec 3rd, 2022Related News