In the first, TF Cornerstone through the entity 2 Noble North LLC paid $144.1 million to Pearl Realty Management through the entity 57 West LLC for the vacant lot at 43 West Street in Greenpoint, Brooklyn. The expected use is ground development. The signatory for Pearl Realty Management was Jack Guttman. The signatory for TF…
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The brokers for both the buyer and the seller, Pinnacle Realty of New York’s David Junik, Decio Baio and Danny Tack, said TF Cornerstone will be able to take advantage of the new state tax incentive replacing 421a. TF Cornerstone has purchased two dilapidated properties totaling 356,520 square feet in Greenpoint, Brooklyn, most likely slated for multifamily development….
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It’s possible that TF Cornerstone could build multifamily with assistance from the new 485-x tax abatement program and housing elements in Mayor Eric Adam’s City of Yes proposal. Pinnacle Realty of New York’s David Junik and Decio Baio brokered the sale. Pinnacle declined to comment. TF Cornerstone snagged a waterfront site in Greenpoint for $175 million, The…
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The company signed a seven-year lease with an asking rent of $30 per square foot for part of the Skillman Avenue warehouse, according to Pinnacle Realty of New York’s Brendan Burke, who brokered both sides of the deal along with Paul Bralower. Read the full story at Commercial Observer
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