News

Innovo Property Group and Square Mile Capital Management are developing a one million square foot, two-story Class A logistics and distribution facility at 2505 Bruckner Boulevard in the Bronx.

Amid social isolation and national quarantine guidelines attributed to the current coronavirus pandemic, an Astoria, Queens apartment building at 31-65 29th St. has traded for $16.7 million.

The REIT plans to use the proceeds for future growth opportunities.

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The stay at home order went into effective April 1 at 8 p.m. Previously, there were 33 counties on statewide stay-at-home orders. The first orders were issued on March 23 for seven counties.

NAI Legacy partnered with Minneapolis-based The Beard Group as the developer, Minneapolis-based Steven Scott Management for day-to-day property management of the building and Minneapolis-based CliftonLarsonAllen Wealth Advisors who assisted in capital raising efforts.

Gov. Murphy characterized the work to build the 250-bed hospital at the 61,000-square-foot Meadowlands Exposition Center as an "extraordinary effort."

The largest of the two trades involved the $12-million sale of Stoney Brook Gardens along the city's main East Front Street corridor.