Alexander’s, Inc., a real estate investment trust, recently sold the Rego Park III land parcel in Queens, New York for $71 million. This 670,000 buildable square foot property is located in an Opportunity Zone and is vested for the 421a Affordable New York Housing Program and eligible for Brownfield tax credits. The sale includes consideration of Brownfield tax benefits as well as reimbursement of costs related to plans, specifications and improvements. As a result of this transaction Alexander’s will gain approximately $54 million on their financial statement. With five properties currently located in NYC this marks another successful venture by Alexander’s Inc..
Global Holdings Rebrands Gramercy Park Rentals as Anagram Luxury Umbrella
Global Holdings has recently announced the rebranding of their Gramercy Park rental building, located at 51 Irving Pl., to Anagram