Multifamily buildings aren’t the surefire investment they used to be

CrainsNewYork.com (Hospitality and Tourism) 5/5 12:33A C. J. Hughes

As tenants and landlords clash in their annual battle over how much the city should raise regulated rents, one fact seems to be looming over the contentious proceedings this year: Multifamily buildings aren’t the surefire money-makers they used...

Prospect Lefferts Gardens multifamily building at risk of foreclosure

CrainsNewYork.com (Hospitality and Tourism) 4/23 8:19A Julianne Cuba

The owner of a mixed-use building in Brooklyn is facing foreclosure after allegedly failing to pay back his debt to the tune of almost $22 million, records show. Victor Tawil, principal of Bx Capital — a family-office lending service based in...

Carlyle buys luxury rental building for $32M in break from self-storage shopping spree

CrainsNewYork.com (Media & Entertainment) 4/22 9:41A Julianne Cuba

Private-equity giant the Carlyle Group has acquired a luxury rental building in Gowanus, records show. Amid a monthslong stint snatching up at least half a dozen self-storage facilities throughout the five boroughs, the Washington, D.C.-based...

Park Slope early childhood center sells for almost $13M

CrainsNewYork.com (Hospitality and Tourism) 4/14 8:11A Julianne Cuba

A Lower East Side-based nonprofit organization with a focus on education has sold a longtime Park Slope early childhood center to an anonymous private buyer for almost $13 million, city records show. University Settlement, whose offerings include...

Deals of the Day: April 14

CrainsNewYork.com (Hospitality and Tourism) 4/14 7:44A Lilah Burke, Julianne Cuba, C. J

Leases Global Holdings lands largest lease to date Address: 99 Park Ave., Manhattan Landlord: Global Holdings Management Group Tenant: Amalgamated Bank Lease size: 94,000 square feet Lease length: 15 years Asset type: Mixed use Brokers: JLL’s...

Prospect Heights, Clinton Hill top Redfin list of hottest U.S. neighborhoods to buy in

CrainsNewYork.com (Media & Entertainment) 3/28 9:45A Lilah Burke

Central Brooklyn is on the rise, according to data released Thursday by real estate firm Redfin. The ZIP code covering Prospect Heights and Clinton Hill topped the company’s list of hottest neighborhoods in the United States in which to buy a...

Prospect Lefferts Gardens apartment building sells at 40% loss

CrainsNewYork.com (Media & Entertainment) 3/25 12:33A C. J. Hughes

A Prospect Lefferts Gardens building at the heart of a fierce gentrification battle over an ice cream shop has changed hands at a big loss. The building, 616-624 Flatbush Ave., a mixed-use site whose storefronts include the popular Scoops, which...

Brooklyn multifamily building trades hands at $13M loss

CrainsNewYork.com (Hospitality and Tourism) 3/20 7:34A Eddie Small

A Brooklyn multifamily building on the border of Park Slope and Gowanus has traded hands for $68.5 million, about $13 million less than it sold for in 2018, city records show. Trinity Place Holdings has sold 237 11th St., at the corner of Fourth...

Brooklyn startup sees growth by helping get unsightly, rat-prone trash bags off the curb

CrainsNewYork.com (Hospitality and Tourism) 3/3 1:03A Caroline Spivack

In 2022, when New York City began exploring ways to gather mountains of garbage bags off the curb and contain them in attractive, rat-proof bins, Brooklynite Liz Picarazzi was ready. She had seen the writing on the wall and primed her company,...

Brooklyn real estate family returns to buying with Prospect Heights purchase

CrainsNewYork.com (Hospitality and Tourism) 2/6 7:31A Eddie Small

The Pintchik real estate family has returned to the buying game less than a month after announcing they were parting with more than $100 million worth of buildings in their extensive portfolio. The family recently bought 296-302 Flatbush Ave. for...