NEW YORK CITY—The developer picked up the development parcel—which is said to be suitable for a residential and mixed-use development—in late 2014.

HOLLYWOOD, CA—A private investor buys the Whitley Heights in a highly competitive sale that generated multiple offers and secured escrow in only 72 hours.

NEW YORK CITY—Steinberg, Schultz, May and Malitz awarded exclusive agency for new commercial development at 34-30 Steinway Street.

Subdivision is the process of taking a property, usually land, and splitting it into multiple parts for resale or development.