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Why sell when you can ground lease? Visit GroundLease.NYC today for a complimentary property evaluation.

Why sell when you can ground lease?

In the simplest form, a ground lease is a long term net lease (usually 49 to 99 years) of land including any said improvements to said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings. There are many benefits for both the owner/lessor and the tenants/lessee. To learn more about ground leasing and to receive a complimentary property evaluation today go to: GroundLease.NYC

Land Use approves East Harlem rezoning

The City Council’s Land Use Committee on Tuesday greenlighted a proposal to rezone East Harlem under the Mandatory Inclusionary Housing program — a plan that is expected to create 1,288 affordable housing units on private sites. Under MIH, the city estimates that at least 20 to 25 percent of all new residential units in East Harlem will be affordable. As a part of the plan, New York City Housing Authority’s East Harlem properties will get […] Read More >>

Hamptons Cheat Sheet: Why one hedge funder has no use for a $70M mansion, historic Southampton inn could become condos … & more

Hedge funder who broke national sales record lists old East Hampton digs for $70M Hedge fund manager Barry Rosenstein has listed his oceanfront East Hampton home for $70 million. After buying the Drew Lane property in 2005 for $19.2 million, Rosenstein tore down a 1920s-era cottage and built a modern seven-bedroom, 9½-bathroom home in its place. The property also boasts a two-bedroom guest cottage, a 62-foot lap pool and a separate garage with office space. […] Read More >>

Treetop buys Far Rockaway rental complex for $135M

Treetop Development picked up a four-building rental complex in Queens’ Far Rockaway neighborhood from E&M Associates for $135 million, the buyer said. The complex at 711 Seagirt Avenue has four interconnected properties with a total of 916 rental apartments and eight commercial units. The buildings, known as the Sand Castle, sit just two blocks from the beach. Westwood Realty Associates’ Steven Vegh represented both sides in the deal. Vegh said the purchase is a “significant […] Read More >>