NYREJ Daily RE Cap

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December 03, 2015
New York City
Law: In tax, as in comedy, timing matters – by Douglas Atkins
As cleverly stated in a Federal appeals court tax case, “In tax, as in comedy, timing matters.” Peracchi v. Commissioner, 143 F.3d 487 (9th Cir. 1998)
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Financial Deal of the Week
Schwartz and Flax of Meridian Capital negotiate $6.8 million to refinance 300 Sullivan Place, Brooklyn
Brooklyn, NY Meridian Capital Group has arranged $6.8 million in permanent financing for the refinance of a multifamily property.
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Brokerage Deal of the Week
Leary of CPEX Real Estate sells hotel lease for $9.55 million; Purchased by The Brooklyn Hotel Group
Brooklyn, NY CPEX Real Estate recently sold a long-term ground lease with an operating hotel on the property located at 17 Seabring St. in Red Hook. The Brooklyn Hotel Group purchased the existing lease for $9.55 million, or $118,000 per key.
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Construction Deal of the Week
Design and Innovation Lab opens at Allendale Columbia School; board and community members attend ribbon cutting
Brighton, NY A new collaborative student working space, the Design and Innovation Lab, officially opened at Allendale Columbia School. 
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A Blast from the Past: June 29, 1999
Shown (from left) are: Mid-Hudson Pattern for Progress president Michael DiTullo, Newburgh town supervisor George Bucci, Newburgh town planning board chairman Michael Fayo III and Richard Lease of John J. Lease Realty.
Newburgh, NY The town is in a “smart growth” mode which will enable it to keep municipal and school district taxes down, according to town supervisor, George Bucci. Bucci’s comments come as site preparation continues on Town Center, a 170,000 s/f project on Rte. 300 and Meadow Hill Rd. which will include a 60,000 s/f Super Stop & Shop, a 3,700 s/f Warwick Savings Bank branch and a 5,700 s/f restaurant.
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Professional Profile
November 10, 2015
Name: Louis Pfaff
Title: Acquisition and Operations Manager
Company: Trion Real Estate Management
Location: New York, NY & Yonkers, N.Y.
Birthplace: Bronx, N.Y.
Education: Iona Prepatory 96; Univeristy of Florida 00 Bachelors of Science in Business Administration Major Finance and University of Florida 03’ MBA Focus on Real Estate Analysis and Urban Planning.
First Job Outside Of Real Estate: Plumber’s Assistant Ranger Plumbing NY, NY
First Job In Real Estate Or Allied Field: Commercial real estate loan officer Bank of America
What Do You Do Now And What Are You Planning For The Future? Acquisition and operations manager for Trion Real Estate Management. I plan on continuing a long career at Trion to do what I truly love, working for and with great people.
How Do You Unwind From A Busy Day In Real Estate? Jogging, hockey, poker, and reading
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New York Minute
How many years have you been attending the ICSC NY National DealMaking Conference and how are you preparing for this year's event?
I’ve been attending ICSC in New York for the last 20 years. Every year I prepare by making a very limited amount of appointments, focusing on those landlords and developers with whom I am doing, or should be doing, business. I leave plenty of time to walk the show and aisles, as that’s where future opportunities lie.
John Brod is partner of ABS Partners Real Estate.
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New England Real Estate Journal
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