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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The school signed a 30-year lease at Bawabeh Realty Holdings’ 39 Truxton Street, where it will operate throughout the entire building, according to tenant brokers Open Impact Real Estate. The school will relocate 2.8 miles from 818 Schenck Avenue in Brooklyn’s East New York neighborhood. Stephen Powers, Lindsay Ornstein and Jake Cinti of Open represented the tenant while Steve Nadel and Nechama Liberow of Pinnacle Realty of New…
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