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The Real Deal New York City has unveiled a program that would provide tax breaks to apartment developments that set aside 70 percent of their units as affordable. The Mixed Market Initiative Program, which the city would fund, would provide ...
Commercial Real Estate Direct Staff Report Nightingale Properties and its founder, Elchonon "Elie" Schwartz, have struck a deal to pay back capital that was misappropriated from investors in two deals that were offered through the CrowdStreet platform. The New York ...
Crain's New York Business Soho Properties, which recently had thrown the troubled Margaritaville Resort hotel in Manhattan's Times Square into bankruptcy, is in talks for a $170 million loan from Cirrus Real Estate Partners. The one-year financing, if it bears fruit, ...
Commercial Real Estate Direct Staff Report Bank accounts that were established to hold a total of $62.8 million investor capital earmarked for Nightingale Properties' proposed purchase of the Atlanta Financial Center and recapitalization of Lincoln Place in Miami now hold only ...
The expiration of the 421-a tax subsidy program often used by apartment developers in New York is expected to severely impact the volume of apartment units that get developed in the city. One study predicts a 20 percent decline in ...
Crain’s New York Business Cara Investment GmbH has filed a lawsuit claiming that Equinox owes $3.3 million in unpaid rent for the space it leases at the 70,000-square-foot office and retail building at 670 Broadway in Manhattan. The German company ...
Commercial Real Estate Direct Staff Report Last week's extension, through October 3rd, of a federal moratorium against the evictions of apartment tenants for non-payment of rent won't have too much of an impact on institutionally-owned properties. It's the small owners, ...
Commercial Observer Judge Debra A. James of the New York State Supreme Court has ruled that the Gap Inc. owes $24 million in missed rent, interest and attorney fees for the 60,000 square feet of space it leases at the ...
Commercial Real Estate Direct Staff Report The Biden administration this week enacted a moratorium against residential evictions through Oct. 3 in areas of the United States that have seen substantial or high rates of coronavirus cases in recent weeks. The ...
Crain’s New York Business Vornado Realty Trust has filed a lawsuit in Manhattan’s Supreme Court against U.S. Polo Assn., claiming the retailer owes $1.2 million in unpaid rent and interest for its space at 1540 Broadway in Manhattan. The New ...
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