As the pandemic pushed New York’s commercial real estate market into unknown territory, many brokerages held their breath. Not Pinnacle Realty. . . .
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A tight hustle: TRD’s annual tally of the city’s biggest investment sales firms . . .
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Turnover among New York City’s commercial real estate brokerages is rarely labeled a “game changer.”
. . .
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Larry Cerullo and Steve Tallides, owners of the popular sports bar and event space Studio Square in Long Island City, sold a nearby office property at
35-01 36th Street for $24 million, or $538 a square foot, sources told The Real Deal. . . .
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Shibber Khan’s Criterion Group is looking to sell a massive, largely vacant Long Island City development site just a year after buying it, sources
told The Real Deal.
“There is an uptick in demand in Long Island City for office space — from companies looking to relocate and end users that want to purchase their
own headquarters space,” said Pinnacle Realty’s TRData LogoTINY
David Junik, who is marketing the site along
with his colleague
Decio Baio.
Junik added the site could benefit from a residential rezoning
of the area, as a result of the Long Island City Core Neighborhood Planning Study currently being conducted by the Department of City Planning.
. . .
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Mitchell’sNY, the company that delivers publications like The Real Deal and the New York Times,
is doubling the size of its office space in Long Island City. . . .
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Emmes Asset Management, together with one of its U.S. pension fund clients, acquired a vacant four-story industrial loft building at 47-16 Austell Place
in the Factory District of Long Island City, Queens for approximately $13.5 million. . . .
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A local affiliate of the International Brotherhood of Teamsters labor union is looking to sell a development site near 5Pointz in Long Island City that
offers just shy of 76,000 buildable square feet, The Real Deal has learned. The union is asking $29 million. . . .
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Updated, 12:06 p.m., Nov. 26: The owner of a Long Island City yellow-cab company has brought on The Lightstone Group a joint venture partner
to develop a 10-story mixed-use building in the Queens Plaza North neighborhood, The Real Deal has learned. . . .
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Queens Village-based landlord James Juliano is asking north of $50 million for a pair of Long Island City development sites with a total of 172,000 buildable
square feet, The Real Deal has learned. . . .
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