Yearly Archives: 2011

NEW YORK, NY - April 19, 2011 - (RealEstateRama) -- Jones Lang LaSalle announced that Scott Vinett has joined the firm as a senior vice president with its New York operations. He will be responsible for tenant representation and agency leasing services, with a specific focus on the New York metropolitan area. Vinett has nearly a decade of experience in overseeing deals, lease restructurings and other complex real estate transactions. He focuses on serving the real estate needs of clients involved in a wide variety of industries including financial services, apparel, media, architecture and engineering.

April 18, 2011 - (RealEstateRama) -- As the warm weather arrives, bringing bed bug season with it, a group of industry experts will discuss New York City’s new bed bug regulations and the possibility of additional regulation for hotels and office buildings. The discussion will also address proposed standards and procedures for effective bed bug detection and prevention.

STAMFORD, CT, April 18, 2011 — Jones Lang LaSalle announced the Fairfield County, Conn., commercial office market continued to see slowly improving fundamentals in the first quarter of 2011. Although Westchester County recorded strong job growth in many areas this quarter, vacancy rates rose in many of the county’s submarkets. Fairfield County posted stagnant or falling average asking rental rates while Westchester County saw slight rate increases countywide

BROOKLYN, NY - April 18, 2011 - (RealEstateRama) -- Strong public interest quickly turned to spirited leasing activity as an impressive 28% of the 95 upscale rental residences have been leased in the first three weeks at Arias Park Slope, the new Ismael Leyva-designed building located on 4th Avenue in this sought-after Brooklyn neighborhood.

NEW YORK, NY - April 15, 2011 - (RealEstateRama) -- Jones Lang LaSalle has been selected by building owner KBS Realty Advisors Inc. as exclusive leasing agent for 619 West 54th Street. The company will be responsible for commercial leasing and marketing efforts at the Class A, 301,000-square-foot office building.

NEW YORK, NY - April 14, 2011 - (RealEstateRama) -- New York City¡¦s only comprehensive residential sales report released today found that home prices increased in the first quarter of 2011 over the same time last year, showing a continuing trend of rising home values. The number of transactions in the quarter, however, was relatively flat rising just two percent compared to fourth quarter 2010. The report was published by ResidentialNYC.com, the public real estate listings Web site of the Real Estate Board of New York (REBNY).

NEW YORK, NY - April 13, 2011 - (RealEstateRama) -- Jones Lang LaSalle has been selected by CF 620 Owner One LLC as exclusive leasing agent for 620 Avenue of the Americas, also known as 45 West 18th Street. The company will be responsible for commercial office leasing and marketing efforts at the Class A, 780,000-square-foot mixed-use building.

New York, N.Y. - April 13, 2011 - (RealEstateRama) -- RGS Holdings, the developers of 2280 FDB, a 12-story, 89-unit residential development located in the heart of Harlem in conjunction with Goldman Sachs Urban Investment Group and JP Morgan Chase Community Development, is pleased to present The Pratt Harlem Project, an exhibition in collaboration with Pratt and Harlem artists, opening to the public on April 14, 2011.

NEW YORK, NY - April 13, 2011 - (RealEstateRama) -- Jones Lang LaSalle has completed a lease renewal for Gagosian Gallery at 980 Madison Avenue in Manhattan with RFR Realty LLC. The art gallery signed for slightly more than 50,000 square feet of space for 10 years at the 90,882-square-foot, Class A office building.

New York, NY - April 13, 2011 - (RealEstateRama) -- Halstead Property Development Marketing today announced they will showcase 15 developments in a joint open house during the weekend of April 16, 2011.

April 121, 2011 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, announced that STEVEN BYERS, the former president and chief executive officer of the private equity firm WexTrust Capital, LLC (“WexTrust Capital”), was sentenced today to 160 months in prison on charges stemming from a fraud that raised more than $9 million from investors in private placement real estate offerings. BYERS, 48, was sentenced in Manhattan federal court by U.S. Court of Appeals Judge DENNY CHIN.

New York, NY - April 12, 2011 - (RealEstateRama) -- To help encourage the early adoption of New York City’s planned phase-out of #6 fuel oil, the New York State Energy Research and Development Authority (NYSERDA) today announced $6.5 million in incentives to help multifamily buildings with five or more units switch to cleaner fuels that will help provide a healthier, cleaner environment for residents and New York City.

New York, NY - April 121, 2011 - (RealEstateRama) -- Senate Majority Leader Dean G. Skelos, Assembly Minority Leader Brian Kolb and representatives of business organizations today urged the Assembly Majority to act on a meaningful property tax cap bill. The Senate overwhelmingly passed Governor Cuomo’s property tax cap legislation with bipartisan support earlier this year.

Washington, DC - April 121, 2011 - (RealEstateRama) -- Congressman Maurice Hinchey (D-NY) last week introduced the Flood Insurance Fairness Act of 2011 (FIFA) to assist property owners with new costs they face due to the Federal Emergency Management Agency's (FEMA) flood map modernization program. With thousands of families throughout New York facing a new requirement to purchase flood insurance as they are remapped into flood zones under FEMA's plan, the FIFA legislation would give property owners the option to delay the flood insurance purchase requirement for up to five years and require FEMA to cover certain costs associated with the flood hazard map appeals process. Similar legislation was introduced by Hinchey in the previous Congress.

OSSINING, N.Y. - April 7, 2011 - (RealEstateRama) -- Claremont Gardens Apartments, a 183-unit rental property in Ossining, has sold in Westchester County’s largest year-to-date multifamily trade, announced commercial real estate services firm Cushman & Wakefield, Inc. The firm’s Metropolitan Area Capital Markets Group, based in East Rutherford, N.J., brokered the $14 million transaction, representing the seller, Claremont Gardens Associates, and procuring the undisclosed buyer.

April 7, 2011 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano today joined the Long Island Housing Partnership (LIHP) in randomly selecting Nassau County families, who met income eligibility requirements, to buy affordable homes in the Inwood community. The forty-four hopefuls that submitted applications to be considered for the program are placed on the ranked lottery list. The deadline for applying was September 30

NEW YORK, NY - April 6, 2011 - (RealEstateRama) -- With a 30-year track record of success and such current notable sales achievements as The Sheffield and Linden 78 on Manhattan’s Upper West Side, The Marketing Directors, Inc. has been brought on to oversee the marketing, sales and leasing of four new residential buildings throughout New York City.

TOWN OF WALLKILL, N.Y. - April 6, 2011 - (RealEstateRama) -- Baker Residential will welcome interested homebuyers to Woodside Knolls on Saturday, April 16th to participate in one of the final “Homebuyer Seminars” to be offered at Orange County’s fastest-selling new residential community

Kingston, NY - April 4, 2011 - (RealEstateRama) -- Congressman Maurice Hinchey (D-NY) today announced Rural Ulster Preservation Company, Inc. (RUPCO) has been awarded a $91,650 grant from NeighborWorks America, a federally funded program aimed at supporting affordable housing and community development initiatives. The funding will be used to support RUPCO's HomeOwnership center, which offers a comprehensive range of services to help families achieve and sustain the American Dream of homeownership.

New York, NY - April 4, 2011 - (RealEstateRama) -- Fried Frank's renowned real estate practice has been shortlisted for The Chambers USA Awards for Excellence 2011. Chambers USA Awards for Excellence honor law firms and lawyers for their pre-eminence in key practice areas and the caliber of their achievements over the previous 12 months.

NEW YORK, NY - April 4, 2011 - (RealEstateRama) -- Jones Lang LaSalle announced that average asking rental rates rose slightly throughout much of Manhattan's office market in the first quarter of 2011. While Midtown South recorded a significant drop in vacancy rates in all property classes, the Midtown submarket posted the first increase in Class A vacancy rates in more than a year.

BROOKLYN, NY - April 4, 2011 - (RealEstateRama) -- Park Slope’s fast-emerging Fourth Avenue corridor has taken another significant step forward with the grand opening of Arias, a new ultra-chic rental building located in the heart of this vibrant Brooklyn neighborhood.

New York, NY - April 1, 2011 - (RealEstateRama) -- Assembly Speaker Sheldon Silver and Housing Committee Chair Vito Lopez today announced agreement on legislation to restore $6 million for the Neighborhood Preservation Program and the Rural Preservation Program. The agreement provides $8.4 million for the Neighborhood Preservation Program and $3.5 million for the Rural Preservation Program. These restorations bring both programs to their 2010-11 funding levels, preserving the vital work that they do in the areas of affordable housing, economic development and community renewal.

March 31, 2011 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Deputy Mayor for Education and Community Development Dennis M. Walcott and New York City Housing Authority (NYCHA) Chairman John B. Rhea today announced the appointment of Emily Youssouf as Vice Chair of the NYCHA Board. Youssouf, who is currently a Clinical Professor at New York University’s Schack Institute ofNew York, NY - March 31, 2011 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Deputy Mayor for Education and Community Development Dennis M. Walcott and New York City Housing Authority (NYCHA) Chairman John B. Rhea today announced the appointment of Emily Youssouf as Vice Chair of the NYCHA Board. Youssouf, who is currently a Clinical Professor at New York University’s Schack Institute of Real Estate, will begin her five-year term on NYCHA’s Board on April 18th. She previously served as the President of the New York City Housing Development Corporation from 2003 to 2007. Real Estate, will begin her five-year term on NYCHA’s Board on April 18th. She previously served as the President of the New York City Housing Development Corporation from 2003 to 2007

New York, NY - March 31, 2011 - (RealEstateRama) -- Ekstein Development announced today that closings and move-ins have begun at +aRt, a new premium condominium development located in the heart of West Chelsea’s art district.