Westchester & Fairfield Cheat Sheet

ELD Properties’ 110-unit “Millennia” breaks ground in New Rochelle By naming their 110-unit New Rochelle building “Millennia,” developer ELD Properties, Inc. doesn’t make it too hard to figure out who their target audience is. Featuring a fitness center, shared rooftop patio and flexible office space, the $30 million dollar project, which began construction this week,[…]

Poaching big game: SoFla brokers see opportunity as commercial firms compete for top talent

From the South Florida issue: When Robert Given left CBRE to become vice chairman of capital markets at Cushman & Wakefield in South Florida last July, it was the culmination of months of courtship. In October 2015, he and his 11-person multifamily team started getting solicitations from competing brokerages. By January 2016, that had escalated to[…]

West Village tenants sue Rudd Realty for alleged J-51-related rent overcharges

Since 1995, the J-51 tax abatement has given New York City landlords an extra incentive to update roughed-up residential and commercial properties. But the tax cut, which amounts to $266 million in annual public expenditure, comes with a compromise: Residential units in these buildings are required by law to remain in the rent-stabilization program and[…]

Trump’s hard stance on Cuba makes US real estate deals in the country all but impossible

From TRD South Florida: Even after President Obama’s rapprochement with the Cuban government, U.S. real estate players faced logistical nightmares when trying to do deals in the Caribbean island nation. Now, President Trump’s rollback of Obama-era policies has made opportunities for Cuban property plays even more bleak. “I am canceling the last administration completely one-sided[…]

There’s a new CEO at Square Mile

Square Mile Capital Management tapped Craig Solomon as its new CEO while founder Jeff Citrin will step back from day-to-day operations, the real estate investment firm announced Thursday. Solomon and Citrin, who co-founded Square Mile in 2006, serve as joint managing principals. As of July 1, Citrin will be an adviser to the firm and[…]