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April 25, 2023

This Week's N.Y. Deal Sheet

NYC EDC's Sabrina Lippman Discusses The Keys To Successful Public-private Partnerships In Brooklyn June 1

After the least active quarter for investment sales in New York City since 2007, activity picked up considerably last week, with several large transactions closing.

TOP SALES

This Week's N.Y. Deal Sheet

Black Spruce Management and Orbach Affordable Housing’s joint venture, GO Partners, has purchased a 300-unit residential tower for $425M, The Real Deal reports. The Solow Building Co. sold the Lenox Hill property, located at 265 East 66th St., as part of its arrangement to sell its 1,766-unit multifamily portfolio to…

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Top Stories on Bisnow.com

Staff Shortages Now Affecting 24% Of Multifamily Owners, Managers, Survey Finds Staff Shortages Now Affecting 24% Of Multifamily Owners, Managers, Survey Finds
Barnes & Noble Planning Dozens Of New Stores In Biggest Expansion Since 2009 Barnes & Noble Planning Dozens Of New Stores In Biggest Expansion Since 2009
Developer Looks To Tear Down Megachurch For Data Center Project In Silicon Valley Developer Looks To Tear Down Megachurch For Data Center Project In Silicon Valley
62% Of Office Landlords Expect Valuations To Drop As Lease Terms Shrink 62% Of Office Landlords Expect Valuations To Drop As Lease Terms Shrink
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Passive House Condo Developer Sued Over Alleged Roof Cracks, Building Leaks

Passive House Condo Developer Sued Over Alleged Roof Cracks, Building Leaks  

The condominium board at a luxury Boerum Hill development is suing the property’s developer, claiming buyers were sold shoddily constructed apartments where cracks are starting to emerge. Nava Partners, run by Stewart Osborne and David Ruff, developed the building at 210 Pacific St.…

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Bed Bath & Beyond Bankruptcy: 480 Stores Closing As 'Lethal Combination' Kills Storied Retailer

Bed Bath & Beyond Bankruptcy: 480 Stores Closing As 'Lethal Combination' Kills Storied Retailer  

Bed Bath & Beyond filed for bankruptcy over the weekend, the culmination of the home goods retailer failing to remain relevant to shoppers and its inability to get out from under a mountain of debt.

The chain retailer filed for a Chapter 11 restructuring Sunday, announcing plans to close all of its stores — 360 Bed Bath & Beyond locations as well as 120 Buy Buy Baby shops — by the end of June. Sixth Street Speciality Lending is providing $240M in debtor-in-possession financing for the process, the…

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From Car Washes To Semiconductors: What It Takes To Make It In The Growing World Of Niche CRE

From Car Washes To Semiconductors: What It Takes To Make It In The Growing World Of Niche CRE  

Ben and Sam Etskovitz wake up at 5 a.m., hit the gym and get to the office by 7. Cold calls take up most business hours, then after 5 p.m., they underwrite deals, sort out issues for clients, answer emails and handle anything else that comes their way.

Their routines could be that of many real estate professionals, but the brothers' business is centered around the business of car wash real estate, one of dozens of specialty niches that have grown in importance among investors as other sectors have settled in for a bumpier ride of late.

Ben and Sam, along with Mason Rabel and Zack Martin, are members of the Etsky Car Wash Team, which moved in January to Colliers’ Houston office from Marcus & Millichap. Specialty teams and experts like the Etskovitzes exist at firms throughout the country, trusted by auto…

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