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Wednesday October 23, 2013
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| Block of BK Industrial Assets Sells for $6.6M. |
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BY AL BARBARINO
Brooklyn commercial real estate brokerage and advisory firm TerraCRG has closed on four industrial buildings in Brooklyn with a combined 45,900 square feet for $6.6 million.
The four buildings, at 632-644 Parkside Avenue, 148 Hinsdale Street, 893 Bergen Street and 479 Baltic Street, were sold in separate transactions, according to an announcement from the firm.
To read the full story, click here.
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| South Slope Development Site Trades for $8.5M. |
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BY GUS DELAPORTE
Brooklyn-based developer CS Management has acquired a development site at 657-665A Fifth Avenue in South Park Slope for $8.5 million.
“This could become a focal point for the South Slope market,” Sean Kelly managing director at CPEX, who represented the seller, told The Commercial Observer. “There is not much left of Fifth Avenue in Park Slope-proper and the natural progression is south,”
To read the full story, click here.
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| LES Soho House Gets Liquor License Approval |
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BY BILLY GRAY
The State Liquor Authority approved the Lower East Side Soho House‘s liquor license application yesterday afternoon, ending months of occasionally ugly neighborhood contretemps.
Management for Ludlow House, as the social club at 139 Ludlow Street is called, convinced the SLA that the semi-private venue would provide a “public benefit” to the neighborhood. Soho House, which began in London as a media hangout, currently has 11 “houses” around the world.
To read the full story, click here.
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| New Office Product is Hitting the Market! |
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BY ROBERT SAMMONS
Well folks, here we are nearing the close of another year. The economy has gained some traction nationally no thanks to our leaders (and I use the term loosely) in Congress.
New York City will soon have a new mayor (should prove interesting). And new construction is popping up everywhere – though generally on the residential side, many assume. But is that really the case? I thought I’d take a more detailed look at where Manhattan stands with its new and potential office construction.
To read the full story, click here.
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| What Does It Mean to Be a ‘Good Guy’ and What’s It Really Going to Cost? |
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BY JEFF MARGOLIS
Last week, we took a look at the evolution of lease guaranties from full-blown general personal guaranties to the limited, now favored “good guy” guaranty.
In a nutshell, a good guy guarantor stepped up to the plate to assure the landlord that the space would not be milked for rent, and the quid pro quo was that the guarantor could unilaterally control the end date of his obligations by taking care of tenants’ financial obligations through a new end date—an end date based on completion (at a minimum) of the following checklist: physical surrender of the premises, vacant and in reasonably satisfactory condition with the keys turned over to the landlord’s agent.
To read the full story, click here.
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