Long Island City Amassing Post-Amazon Gains

If Long Island City, N.Y. needed Amazon, you wouldn’t know it from continued robust development, sales and leasing momentum just across the East River from Midtown Manhattan. For many years New York City’s best-kept secret, Long Island City today is among the most coveted of New York City neighborhoods, offering both a small-enclave ambiance and … Read more

Here’s What The $20M-$30M NYC Investment Sales Market Looked Like Last Week

UPDATED, Jan. 17, 12:00 p.m.: New York City investment sales within the $20 million to $30 million range included the Greater Jamaica Development Corporation selling its 168th Street parking lot and Rybak Development acquiring four Yorkville walk-ups, according to Department of Finance filings made public last week. 1.) BRP Companies picked up a lot that will … Read more

These Were The Top 10 Outer Borough Loans Last Month

Long Island City was home to the largest outer borough loan last month for the third time in a row. The Durst Organization landed a $360 million loan for its Queens Plaza Park project at 29-37 41st Avenue to grab the top spot for December. First place in November went to a $275 million loan … Read more

Rybak Lands $48M Loan for Coney Island Project

Sergey Rybak’s Rybak Development landed a $47.5 million construction loan from Bank Leumi to finance his planned 22-story, 180,000-square-foot mixed-use tower in Coney Island. Rybak bought the site at 271 Sea Breeze Avenue last June for $13.5 million from Chaim Miller. The planned tower will include 114 apartments (30 percent will be designated as stabilized) … Read more

Bay Watch

The condos are coming to Sheepshead Bay. And some have catchy names like the Ocean, the Vue and 1 Brooklyn Bay. The sponsors behind those projects — including the local firm Rybak Development and a joint venture between Muss Development and AvalonBay Communities — are among several established builders looking to make a splash there. Read full article here

The 10 most valuable Brooklyn condo filings accepted in 2017

Condominium development in Brooklyn slowed to a more modest pace in 2017, according to a ranking of offering plans accepted by the New York state Attorney General’s office this year. Of the 10 biggest projects ranked by targeted sellout on acceptance, just one development was aiming for a price point above $100 million, compared to … Read more