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LargaVista picks up LIC warehouse for $27M

therealdeal.com/2017/03/16/largavista-picks-up-lic-warehouse-for-27m/ Marcello Porcelli’s LargaVista Companies bought a 50,000-square-foot warehouse in the Queens Plaza North section of Long Island City for $27 million. The Midtown-based development firm picked up the four-story warehouse at 30-12 41st Avenue for $27.1 million, property records filed with the city Thursday

BESEN IS BULLISH ON THIS N.O.I. — THAT’S NEIGHBORHOOD OF INTEREST ASTORIA, QUEENS Read more at: https://www.bisnow.com/new-york/news/neighborhood/noi-makes-besen-bullish-thats-neighborhood-of-interest-astoria-queens-71780?utm_source=MorningBrief&utm_medium=email&utm_campaign=20170316_new-york_morningbrief&be=jonathan.eshaghian%40marcusmillichap.com?utm_source=CopyShare&utm_medium=Browser

https://www.bisnow.com/new-york/news/neighborhood/noi-makes-besen-bullish-thats-neighborhood-of-interest-astoria-queens-71780?utm_source=MorningBrief&utm_medium=email&utm_campaign=20170316_new-york_morningbrief&be=jonathan.eshaghian%40marcusmillichap.com Astoria’s landscape has recently benefited from an influx of development dollars and a frenzied flurry of activity aimed at providing migrant Millennials with in-demand housing and longtime residents with parks, schools and supermarkets. Developers’ efforts are especially concentrated on the shoreline, transforming a desolate

The “roach” approach: Developers swarming over emerging neighborhoods

therealdeal.com/2017/03/15/the-roach-approach-developers-swarming-over-emerging-neighborhoods/ From Queens to Fort Lee, developers are targeting “affordable” price points: panelists What’s a New York developer to do when renters are priced out of neighborhoods? Turn to emerging areas in Queens, the Bronx, New Jersey, Westchester and Long Island. “We’re like cockroaches, we

GFI scoops up JFK-area hotel for $60M

therealdeal.com/2017/03/14/gfi-scoops-up-jfk-area-hotel-for-60m/ A subsidiary of GFI Capital Resources Group scooped up a 330-key hotel near John F. Kennedy Airport for $60 million, documents filed with the Tel Aviv Stock Exchange show. GFI Real Estate Limited purchased a Crowne Plaza Hotel at 138-10 135th Avenue in the

Pinnacle to convert rent-stabilized Flushing building to condos

therealdeal.com/2017/03/14/pinnacle-to-convert-rent-stabilized-flushing-building-to-condos/ The company paid $43M for the 144-unit rental last year Joel Wiener’s Pinnacle Group is looking to convert a 144-unit rent-stabilized building in Flushing to condominiums, an offering plan filed with the New York state Attorney General’s office shows. Plans for 142-20 Franklin Avenue