TrendingCommercial New YorkAGowanus’ biggest project lands $145MCharney Companies Tavros get financing for 175 Third Avenue Listen to this article00:001xCharney Companies and Tavros secured $145 million in financing for their 1,000-unit rental development in Gowanus which is set to be the biggest building in the neighborhood Silver Point Capital provided the acquisition and pre-development debt for the development at 175 Third Avenue alongside The Brodsky Organization and Tikehau Capital “This acquisition represents a major step forward in our vision for Gowanus Wharf and we truly value the commitment of our partners Silver Point Capital and Brodsky/Tikehau Capital,” said Charney Companies COO Justin Pelsinger “Our focus will be on delivering high-quality much-needed housing for New Yorkers and actively participating in the positive transformation and further development of the vibrant Gowanus neighborhood.” Gowanus Wharf is the name Charney and Tavros have given to the four-building campus they’re developing in the neighborhood which covers 2 million square feet and includes 2,200 apartments SIGN UPThe developers used the financing to close on their acquisition of 175 Third Ave from Aby Rosen’s RFR which acquired the site in 2018 and took it through the process of environmental remediation and design Andrew Sasson of Ackman-Ziff negotiated the sale A JLL team led by Christopher Peck and Peter Rotchford arranged the financing Correction: A previous version of this story incorrectly identified TYKO Capital as one of the lenders Two Loans Totaling $145 Million Secured; Lenders are Silver Point Capital and Brodsky/Tikehau Capital 175 Third Street will be the largest building in Gowanus with approximately 1 million square feet and 1,000 residences Charney and Tavros will have developed and will own over 2 million square feet and 2,200 residences in Gowanus making them the largest owner in the neighborhood Two acquisition/pre-development loans totaling $145 million have been secured with Silver Point Capital providing $110 million and Brodsky/global alternative asset manager Tikehau Capital providing $35 million as the mezzanine lender "This acquisition represents a major step forward in our vision for Gowanus Wharf and we truly value the commitment of our partners Silver Point Capital and Brodsky/Tikehau Capital," said Justin Pelsinger "We're thrilled to secure this significant site Our focus will be on delivering high-quality much-needed housing for New Yorkers and actively participating in the positive transformation and further development of the vibrant Gowanus neighborhood." With 37,000 square feet of publicly accessible waterfront esplanade and open space 175 Third Street is directly across from Whole Foods and is considered the southern gateway to Gowanus Design and landscape elements will be led by James Corner Field Operations the renowned landscape architects whose works include the High Line in Manhattan "175 Third represents the culmination of our work in creating Gowanus Wharf as the market leading new residential innovation in New York City "This project will crystallize all of the incredible efforts from the community board elected and the surrounding special Brooklyn neighborhoods to rezone and elevate what is possible in NYC when the public and the private sectors work together to achieve great things." "We are excited to partner with Charney Companies and Tavros in the acquisition of this dynamic project," said Anthony DiNello and we look forward to supporting Charney and Tavros in bringing 175 Third Street to fruition." "The Brodsky Organization is proud to provide mezzanine financing to Tavros and Charney alongside our partners at Tikehau Brodsky and Tikehau are committed to providing financing solutions and contribute to the vibrancy and growth of emerging neighborhoods like Gowanus," said Thomas Brodsky of Brodsky "We are proud to support the next chapter of the Gowanus transformation with Charney Companies and Tavros building upon a strategic partnership with The Brodsky Organization," said Maxime Laurent-Bellue executive director within the Real Estate Credit team Tikehau Capital "This investment reflects the strength of our growing global credit franchise and marks a significant step in our expansion into the U.S forward-looking developments that deliver long-term value for communities and investors alike." A JLL team led by Senior Managing Directors Christopher Peck and Peter Rotchford and Vice President Jonathan Faxon represented the borrowers About Tavros:Tavros is a privately-owned real estate investment management and development firm and a global investor base of family offices Core to the Tavros discipline is the quality of its partnerships with tenants Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life About Brodsky:The Brodsky Organization is one of Manhattan's most established developers and managers of residential and commercial spaces in New York City The Brodsky Organization's relationship with its residents is the foundation of its success Every element of building life is supported by a dedicated and attentive management team The Brodsky Organization offers intelligently designed apartments with exceptional views which are in some of the most desirable neighborhoods in Manhattan and Brooklyn The company has developed over 10,000 apartments in more than 85 rental The portfolio ranges from charming brownstones to renovated pre-war doorman buildings to newly constructed high-rises with extensive building amenities The neighborhoods span from West and Greenwich Village to Chelsea, Midtown West to Morningside Heights and Midtown East to Carnegie Hill and Downtown Brooklyn Barbara Wagner [email protected] Elana Van Patten [email protected] Brooklyn; it is the first of four new buildings that make up the.. Real Estate Banking & Financial Services Commercial Real Estate Construction & Building Do not sell or share my personal information: Addition of Tavros will greatly expand target space reachable by Vividion / Acquisition builds on successful collaboration focused on promising drug targets in oncology a clinical-stage biopharmaceutical company utilizing novel discovery technologies to unlock high-value traditionally undruggable targets and develop small molecule precision therapeutics for devastating cancers and immune disorders today announced the acquisition of Tavros Therapeutics Vividion is a wholly owned and independently operating subsidiary of Bayer AG The addition of Tavros greatly expands Vividion’s functional genomics expertise and capabilities bringing proprietary methods for genomic screening that can identify new target opportunities as well as support discovery and translational efforts towards known targets Combining the Tavros platform with Vividion’s chemoproteomics expertise and capabilities will greatly enhance Vividion’s efforts to generate potential best- and first-in-class drug targets across oncology and immunology. Vividion and Tavros have been working together for the past two years under a strategic collaboration to discover and develop novel precision therapeutics capable of addressing cancer-causing proteins that have eluded traditional small molecule drugs “The addition of Tavros will expand and strengthen our chemoproteomics drug screening capabilities and open up a new target space to fuel the growing pipeline of novel therapies across oncology and immunology” “We have already seen the power of combining Vividion’s platform and compound library with Tavros’s functional genomics capabilities in uncovering druggable vulnerabilities in tumor cells We are excited to take this next step to unlock the full potential of our work together for the patients in need.” “The acquisition of Tavros is an exciting next step as we seek to accelerate the development of previously undruggable targets to improve outcomes for patients with significant high unmet medical needs” Head of Business Development and Licensing at Bayer’s Pharmaceuticals Division “It is also the first acquisition in the history of Bayer Pharmaceuticals for one of our ‘arms-length’ model companies demonstrating the flexible operating model while Vividion continues to operate autonomously to drive breakthrough innovations in precision oncology and immunology.” “We are thrilled for the opportunity to combine forces with Vividion We have enjoyed a highly productive partnership over the past two years and have seen the clear synergy between our platforms” Chief Executive Officer and co-founder of Tavros “We look forward to building on our success to date to develop novel small molecule therapeutics against elusive protein targets and maximize our ability to bring new treatment options to patients.” Find more information at https://pharma.bayer.comFollow us on Facebook: http://www.facebook.com/bayer The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments Bayer Global Media Contact:Malena Johannes, phone +49 173 5470379Email: malena.johannes@bayer.com Vividion Media Contact:Laurie Sherman, phone +1 858 630 8246Email: media@vividion.com A fire that broke out on a plot of land in the Tavros area of southwestern Athens on Thursday appears to have been brought under control by firefighters was still in progress early Thursday evening No injuries or casualties have been reported while no neighboring buildings were impacted The plot is located on Profitis Daniil Street next to the training center of Piraeus soccer club Olympiacos an emergency 112 alert was issued urging the public to stay indoors and keep windows closed Enter your information below to receive our weekly newsletters with the latest insights opinion pieces and current events straight to your inbox TrendingCommercial New YorkATavros Charney land $300M in Gowanus construction loansThree lenders provide financing for 668-unit project If construction loans are what make projects real, Tavros and Charney’s two-tower Gowanus development is about to get off the ground Nicholas Silvers and Sam Charney’s companies nabbed two construction loans totaling $300 million for their planned 631,000-square-foot development at 310 and 340 Nevins Street one of the fast-changing neighborhood’s larger development properties Affinius Capital and Kennedy Wilson provided a $160 million loan for 340 Nevins Street and TYKO Capital provided $140 million for 310 Nevins Street A Newmark team including Jordan Roeschlaub and Chris Kramer arranged the financing Tavros Capital and Charney Companies bought the full-block site along the Gowanus Canal from Property Markets Group for $102 million in 2022, with the ink barely dry on the new zoning. It is three blocks from another Tavros and Charney project, 251 Douglas Street Tavros and Charney also have a joint venture to develop 585 Union Street The City Council rezoned the largely industrial neighborhood in 2021 to allow mixed-use developments on 82 blocks. City officials estimated the change will bring more than 8,500 new apartments, 3,000 of which will be income-restricted. But early returns showed development exceeding the expected pace The newly financed project is in an Opportunity Zone between Union and Carroll streets on the eastern side of the canal one of the earliest investors in the neighborhood The development was one of 18 Gowanus projects that Gov Kathy Hochul announced in February would receive an alternative to the property tax break 421a the 421a completion deadline was extended five years to 2031 so those projects will likely aim for 421a rather than the workaround TrendingCommercial New YorkAAby Rosen’s RFR selling Gownaus dev site for $160MTavros Capital and Charney Companies in contract to buy 175 Third Street facing foreclosure on his big Gowanus development site has struck a deal to sell the property for a tidy profit Rosen’s RFR Holding is in contract to sell the 827-unit site at 175 Third Street to Tavros Capital and Charney Companies for north of $160 million That’s an increase of more than a third over the $115 million that RFR paid for the plot back in 2018 more than three years before the city rezoned Gowanus for more multifamily development The deal solves the problem of the property’s $80 million debt that RFR defaulted on A group of investors led by Madison Realty Capital purchased the non-performing debt earlier this year and moved to foreclose on the site The sale now provides RFR the funds to repay the debt A spokesperson for RFR said in a statement that the company added value by investing in the property in conjunction with the rezoning “RFR acquired the site in anticipation of a rezoning of the Gowanus neighborhood,” the statement read combined with the robust design scheme we established for the site and qualification for the 421a tax abatement has created a prime opportunity for the next phase of development under new ownership.” A spokesperson for Tavros and Charney declined to comment The sale was brokered by Andrew Sasson of Ackman-Ziff The deal is just the latest twist in the Aby Rosen saga that has played out over recent months as the charismatic developer has struggled to hang on to his portfolio of trophy properties RFR’s control of the Chrysler Building fell into jeopardy after Cooper Union which owns the land under the iconic skyscraper claimed the owner defaulted on its ground lease claiming — in part — that Cooper Union’s handling of campus protests over Palestine and Israel last year drove away tenants SIGN UPRFR has also fought to pause its eviction at the Gramercy Hotel by the Goldman family’s Solil Management claiming that amid the Goldman family feud it’s not clear that Jane Goldman had the authority to terminate RFR’s lease found his way out from under some of these weights Earlier this year, RFR sold its office building at 980 Madison Avenue on the Upper East Side to Bloomberg Philanthropies for $560 million RFR’s loan on the property had been watchlisted after the owner’s ability to cover its debt service payments looked murky RFR is looking to sell another building The company reportedly said it plans to clear up its debt problems without selling its trophy properties Tavros and Charney are adding to their growing development portfolio Nicholas Silvers and Sam Charney’s companies broke ground earlier this year on a 654-unit project at 320 and 340 Nevins Street about five blocks away from the site they’re buying from RFR They’re also building a 260-unit project in the neighborhood at 251 Douglass Street and plan to start leasing soon on a 216-unit building at 585 Union Street The four rental properties are being branded as a campus called Gowanus Wharf A fire broke out in a plot of land in the Tavros area of southwestern Athens on Thursday An emergency alert was issued via 112 urging the public to avoid venturing outside and keep windows closed as plumes of thick black smoke were seen rising from a densely urban area According to information from the fire service up to $430.5M in milestone payments for initial four programs and certain royalties over agreement term / Vividion will have rights to opt-in to up to five more targets for up to $482M in additional payments /Partnership to define novel drug targets and biomarkers in addition to positioning existing compounds a precision oncology platform company leading the new frontier of targeted therapies exploiting tumors’ genetic vulnerabilities a biopharmaceutical company utilizing novel discovery technologies to unlock high value traditionally undruggable targets with precision therapeutics for devastating cancers and immune disorders and a wholly owned and independently operated subsidiary of Bayer AG today announced the companies have entered into a collaboration agreement to discover or target four oncology targets across an initial five-year term Tavros leverages its functional and computational genomics technologies to uncover unique vulnerabilities within tumors to discover novel targets and biomarkers in areas of high unmet clinical need and identify novel clinical positioning strategies for existing molecules Tavros will receive $17.5 million in a cash upfront payment from Vividion and is eligible to receive up to $430.5 million in potential future payments based on the achievement of prespecified preclinical as well as low-single-digit royalties on sales of certain potential programs Vividion has options to pursue up to five additional targets with up to $482 million in potential additional future payments “The future of cancer treatment lies in the precision targeting of therapies in the optimal clinical settings This partnership allows Tavros to expand the actionability of our platform into a new target space by pairing our precision oncology platform with Vividion’s unmatched ability to drug the traditionally undruggable,” said Tavros CEO and co-founder Eoin McDonnell “We’re thrilled to launch our work with Vividion and harness our combined expertise to reach patients with difficult-to-treat cancers by uncovering and drugging the next generation of high-value targets and augmenting the efficacy of emerging compounds.” many targets remain inaccessible to traditional small molecule drugs and many others have uncertain relevance to disease,” said Vividion Therapeutics CEO Jeffrey Hatfield “This collaboration brings together two orthogonal highly innovative and synergistic approaches to drug discovery that will address both of these challenges. Vividion has the ability to find and drug previously unknown functional binding pockets on oncology and immunology targets of high interest while Tavros has the potential to uncover previously unknown synthetic vulnerabilities or dependencies in deadly tumor cells. We believe this powerful combination of leading-edge technologies has the potential to deliver multiple breakthrough discoveries for cancer patients in need.” handerson@6degreespr.com patty@vividion.com This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page TrendingDevelopment New YorkATavros Canyon borrow $120M for Gowanus developmentFirms have second project just three blocks away From left: Charney’s Sam Charney and Tavros’ Nicholas Silver along with a rendering of 251 Douglass Street (Getty Tavros and Charney’s latest Gowanus project now has something that separates aspiration from reality: a construction loan Canyon Partners Real Estate is the lead partner in the project a spokesperson for Tavros and Charney said The project’s investors have put in $64.4 million in equity It was the eighth largest project filed in November 2021 as developers rushed to beat the expiration of 421a the following June 224,000-square-foot building with about 50,000 square feet of commercial space Sixty-five of the apartments will be permanently affordable Just over half of the 96,884 square feet of built space are office buildings with industrial buildings making up the other 49 percent Newmark’s Jordan Roeschlaub and Dustin Stolly arranged the debt a New York-based real estate investment management and development firm acquired the site for $22.5 million in April 2020 Gowanus is no stranger to Tavros and Charney, who filed plans last year for a project at 318 Nevins Street three blocks away from the Douglass Street site Tavros and Charney announced a joint venture to develop 585 Union Street Canyon Partners Real Estate is the real estate arm of Canyon Partners The neighborhood became a hotbed for development as a sweeping rezoning moved slowly but surely toward fruition in the 2010s and passed in late 2021. It got a further boost when Gov. Kathy Hochul announced Gowanus projects could qualify for a tax break akin to 421a which has a 2026 completion deadline that many projects cannot meet It could not immediately be determined if Hochul’s announcement played a role in the loan’s closing Gowanus was the sixth most active neighborhood for development last quarter Charney plan 55-story rental on long-stalled siteJV closed on $68M deal for parcel once slated for Queens’ largest hotel A Long Island City site where a developer once envisioned Queens’ largest hotel could soon give rise to one of the borough’s tallest apartment towers instead Tavros Capital and Charney Companies closed on the long-stalled development site at 24-19 Jackson Avenue for $68.3 million Together with a neighboring parcel owned by Tavros and Charney at 45-03 23rd Street the property forms a triangular assemblage in the neighborhood’s Court Square area where the joint venture plans a 55-story mixed-use tower with 600 apartments and 90,000 square feet of retail and offices a Tavros representative told The Real Deal Seller Toyoko Inn, a Japanese hotel operator, spent $26 million cobbling together the assemblage between 2007 and 2014, eventually filing plans for a 50-story, 1,200-key hotel which would have been its first in the U.S But the hotel project never got off the ground, and after the City Council passed a measure last December requiring developers to obtain special permits before constructing new hotels, Toyoko Inn put the property on the market in January SIGN UPA CBRE team led by Dan Kaplan represented the Toyoko Inn in the sale to Tavros and Charney, which went into contract in May Work on the joint venture’s apartment tower has already begun: The project qualified for the 421a tax abatement because foundation work was done before the tax break lapsed in June Tavros and Charney have experience teaming up on projects. In January, the companies paid Property Markets Group $102 million for a full-block site at 318 Nevins Street in a recently rezoned area of Gowanus where they plan a 660-unit apartment building The partners also co-developed the 177-unit Dime rental building in Williamsburg and the 56-unit condominium building dubbed the Jackson at 11-51 47th Avenue in Long Island City 251 Douglass Street, is in a qualified opportunity zone and will offer 260 multifamily rental units 2023 /PRNewswire/ -- Canyon Partners Real Estate LLC ("Canyon") and Charney Companies ("Charney") today announced their joint venture for the development of 251 Douglass Street (the "Project") a 260-unit multifamily development in the Gowanus neighborhood of Brooklyn The Project is being capitalized with $64.4 million of equity and the joint venture simultaneously closed on a $119.9 million senior construction loan with financing provided by Barings led by Co-Presidents of Debt & Structured Finance and Executive Managing Director Chris Kramer The Class-A multifamily development is 15 stories The Project features several environmental including 65 permanently affordable housing units an energy efficient design and space allocated to community and maker retail use and Charney announced a joint venture for the development of 585 Union Street a 224-unit multifamily development also located in the Gowanus neighborhood "As Gowanus becomes a central community for families and young professionals affordable housing in the area," said Nicholas Silvers "With the neighborhood positioned for long-term growth we look forward to providing apartment housing that will benefit both residents and the community." The Gowanus neighborhood is a diverse metropolitan area that has undergone significant transformative growth 251 Douglass will be central to Gowanus' range of retail the Barclays Center and the Thomas Green Playground and park highly amenitized living community to Gowanus' residents Its proximity to Brooklyn's major subway lines in addition to the city's parks shopping and entertainment will provide the convenience and accessibility today's residents are seeking," added Sam Charney "We value our continued partnership with Canyon Partners and Tavros to deliver much-needed Canyon's investment marks its twelfth qualified opportunity zone investment For more information visit: www.canyonpartners.com. Tavros is a privately-owned real estate investment management and development firm For more information visit: https://www.tavroscapital.com/ About Charney CompaniesFounded in 2012 Charney Companies is a fully integrated real estate development and management firm with a focus on developing and operating first-class residential and commercial real estate in the New York City Metro area From ground-up construction to adaptive reuse and value-add repositioning Charney plays an integral role in all aspects of the development process and leverages the expertise and experience of their principals to deliver superior products to the marketplace and best-in-class returns for their investors and is under construction on over two million square feet throughout Brooklyn and Queens and has won awards and accommodations from municipal organizations and media outlets for their work over the last 5 years For more information visit: https://charneycompanies.com/ About BaringsBarings is a $351* billion global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income With investment professionals based in North America and is committed to sustainable practices and responsible investment.*Assets under management as of June 30 For more information visit: https://www.barings.com/ together with its subsidiaries ("Newmark") is a world leader in commercial real estate seamlessly powering every phase of the property life cycle Newmark's comprehensive suite of services and products is uniquely tailored to each client Combining the platform's global reach with market intelligence in both established and emerging property markets Newmark provides superior service to clients across the industry spectrum Newmark generated revenues of approximately $2.7 billion operate from approximately 170 offices with over 7,400 professionals around the world For more information visit nmrk.com or follow @newmark Canyon PartnersKris Cole(310) 614 9208[email protected] TavrosBarbara Wagnerbarbara@bwagnerpr.com Charney Barbara Wagnerbarbara@bwagnerpr.com BaringsMedia RelationsMediaRelations@barings.com NewmarkBrandon LevesqueBrandon.Levesque@nmrk.com a $27 billion global alternative investment manager founded in 1990 today announced the hiring of veteran credit.. a global alternative investment manager with $27 billion in assets under management Residential Real Estate is in a qualified opportunity zone and will offer over 50 affordable housing units 2023 /PRNewswire/ -- Canyon Partners Real Estate LLC ("Canyon") and Charney Companies ("Charney") today announced their joint venture for the development of 585 Union Street (the "Project") a 224-unit multifamily development located in the Gowanus neighborhood of Brooklyn The Project is being capitalized with $57.7 million of equity and the joint venture simultaneously closed on a $107.0 million senior construction loan from Pacific Western Bank Canyon's investment marks Canyon's eleventh qualified opportunity zone investment "Gowanus's industrial beauty and artistic character makes it one of the most exciting cultural hubs in New York City and we couldn't be more thrilled to be a part of its expansion," said Nicholas Silvers "We are looking forward to adding housing to such a dynamic neighborhood with the help of a capital partner who shares the same vision." 585 Union Street is located in the Gowanus neighborhood of Brooklyn The Project will benefit from its close proximity to diverse entertainment and employment hubs within walking distance including the many dining and entertainment options unique to the Gowanus neighborhood The Project is located one block from the Union Street subway station which provides access to Lower Manhattan The property is conveniently located near public parks The development will offer a mix of studio two- and three-bedroom units along with parking and a rooftop pool among other community amenities Twenty-five percent of available units will be allocated to affordable housing and benefit from the Affordable New York housing program the Project design will feature an entirely electric building with flood resistant landscaping and plantings "The opportunity to create new rental homes in Gowanus the most eagerly anticipated neighborhood in Brooklyn has been a journey of perseverance and challenging work which has been supported by a world-class team of professionals our financial partners," added Sam Charney "This is yet one more step to 585 Union Street becoming a reality Canyon Partners Real Estate LLC® ("Canyon") is the real estate direct investing arm of Canyon Partners a global alternative asset manager with approximately $24.5 billion in assets under management Canyon has invested approximately $5.6 billion of debt and equity capital across over 200 transactions capitalizing approximately $17.6 billion of real estate assets Canyon has established a broad menu of investment capabilities spanning property types For more information visit: www.canyonpartners.com. For more information visit: https://www.tavroscapital.com/ About Charney Companies:Founded in 2012 Charney Companies is a fully integrated real estate development For more information visit: https://charneycompanies.com/ Canyon PartnersMorgan McGinnis[email protected] TavrosBarbara Wagner[email protected] CharneyBarbara Wagner[email protected] Real Estate Transactions Multi-target collaboration leverages Tavros’ proprietary functional genomic discovery program and OpenBench’s screening platform Partnership streamlines drug development for novel cancer therapies 2023 (GLOBE NEWSWIRE) -- Tavros Therapeutics a screening platform pioneering success-driven small molecule discovery partnerships today announced the companies have entered into a collaboration agreement to discover small molecule modulators of up to five oncology targets across an initial 18-month term The agreement expands the companies’ original collaboration to pursue a first-in-class cancer target “This deepening partnership with OpenBench underscores the strength of our drug discovery platform and is a key step toward building our internal pipeline of targeted cancer therapies,” said Tavros CEO and co-founder Eoin McDonnell “Complementing our next-generation synthetic lethality platform with OpenBench’s success-driven AI chemistry approach brings additional innovation and speed to our work discovering and developing first-in-class cancer drugs We are excited to continue collaborating with OpenBench to bring forward meaningful new targets with a clear and efficient clinical path for drug development.” OpenBench will receive an upfront payment for their services and payment upon the identification and experimental confirmation of novel small molecule chemotypes that meet Tavros' potency and developability criteria Tavros gains exclusive access to OpenBench's proprietary screening technology with respect to the promising cancer targets “We are thrilled to continue building upon the foundation of success established in our initial collaboration with Tavros,” said OpenBench CEO and co-founder Jim Thompson “Combining our proprietary AI-enabled screening platform with Tavros’ innovation in identifying synthetic vulnerabilities represents a real opportunity to accelerate discovery of promising cancer targets for areas of high unmet medical need.” For Tavros: Heather Anderson6 Degrees+1 (919) 827-5539handerson@6degreespr.com Local mayors along the Kifissos River in Athens have raised alarm about the potential for catastrophic flooding with 250,000 residents and vital infrastructure at risk A recent National Technical University of Athens (NTUA) report highlights the southern stretch of the river as the most vulnerable warning that the area is already at its limit for stormwater drainage At a meeting titled “Kifissos: Zero Hour,” organized by the Municipality of Nikaia-Rentis officials discussed outdated urban infrastructure designed for milder climates Nikaia-Rentis Mayor Konstantinos Maragkakis emphasized the need for new flood protection projects citing increasing pollution and illegal industrial dumping into the river He proposed turning riverside areas into recreational zones to better manage runoff The NTUA report identified critical infrastructure at risk in the flood zone 45 sports facilities and various medical and emergency services Most of these are located in the municipalities of Piraeus Mayors shared stories of long-delayed projects Moschato-Tavros Mayor Andreas Efthymiou recalled a flood protection plan The project was abandoned by contractors due to increased costs Peristeri Deputy Mayor of Public Works Panagiotis Adamakis echoed the concerns stating that existing drainage infrastructure cannot handle more stormwater His municipality proposed a rainwater drainage network that was rejected by the regional authority because the Kifissos is already overwhelmed Ilion Mayor Andriana Alevizou-Koukouvinou shared a striking example of bureaucratic failure A €6 million pumping station built to manage floods has never been used or maintained Mayor Yannis Tombouloglou expressed deep concerns over aging infrastructure along the Kifissos citing structural risks to bridges and other critical areas He stressed the need for flood control measures rather than enclosing the river in concrete including Deputy Governor Stavroula Antonakou admitted that the river’s channels have been cleaned for the first time in years but said that without a holistic flood prevention plan from the national government even a small increase in rainfall could lead to disaster TrendingCommercial New YorkACharney Tavros pick up stalled LIC development sitePlanned Toyoko Inn site offered for $60M A pair of buyers are in contract to pick up the development site of a planned hotel in Long Island City potentially changing the course of the project Charney Companies and Tavros Capital are in contract to buy the development site at 24-09 Jackson Avenue in Queens from Toyoko Inn The cost won’t be known until the sale closes but the site was being offered at about $60 million Toyoko Inn assembled the site for more than $26 million from 2007 to 2014. The project was never able to get off the ground and Toyoko Inn hired a CBRE team led by Dan Kaplan to sell the property planning a 50-story hotel with more than 1,000 rooms that a buyer was likely to shift the project towards apartments due to the maturing residential market in Long Island City as well as new measures that add regulations to the construction of new hotels A City Council bill passed in December was potentially a factor in Toyoko Inn’s decision to sell The measure required developers to obtain special permits to construct new hotels essentially guaranteeing developers would have to commit to using union hotel staff on their sites Charney in February filed a permit application for the construction of a 54-unit An owner can develop a 267,000-square-foot residential building on the site as-of-right Tavros and Charney have experience teaming up on projects. The companies in January bought a full-block site at 318 Nevins Street along the Gowanus Canal from Property Markets Group for $102 million They plan to build about 660 rental apartments on the property which has more than 500,000 square feet of buildable space In 2019, the two companies paid $36.4 million to buy the site at 577 Union Street, where they plan to build 214 apartments. The two also worked together to co-develop the 177-unit Dime rental building in Williamsburg in 2020 [PincusCo] — Holden Walter-Warner By: Vanessa Londono 8:00 am on April 3 A rendering by Fogarty Finger shows an exterior of elongated grid of bronze-accented floor-to-ceiling glass and white terracotta panels that span the entire height of the superstructure The skyscraper will sit on an offset series of landscaped setbacks The proposed 544-foot-tall development will yield 350,844 square feet of space with 194,423 square feet designated for residential use 100,000 square feet for commercial tenants and 3,388 square feet for community facilities Components for the building comprise 285 condominium units with two penthouse floors The concrete-based structure will also have a cellar In a piece by the New York Times that ran last week developer Samuel Charney said that specially rated glass due to the proximity to the elevated train tracks “will make the apartments so silent you’ll be able to hear a pin drop.” Demolition permits were filed in November 2019 An estimated completion date has not been announced Subscribe to YIMBY’s daily e-mail Follow YIMBYgram for real-time photo updates Like YIMBY on Facebook Follow YIMBY’s Twitter for the latest in YIMBYnews Adam; I hear ya but according to Google Maps this is Hunters Point neighborhood and a Court Square neighborhood isn’t shown It would have been appropriate if they had kept of the facade of the existing brownstones and had incorporated it in the design of the new strusture and the oversupply in this neighborhood already this thing ain’t getting built anytime soon watch CNN fake journalist scare stories and takes everything what Evil and Brutal Communist China regime said as only true!! There ought to be a law to ban demolition of affordable residences That’s how we got into this affordability mess Those homes sold for 5 to 7 mil each and they were 2 and 3 families The new building will have 100’s more units and will cost less per unit along with giving the neighborhood retail and a sorely needed community facility We don’t have an affordability mess you just need to move to a place you can afford the final house on the corner didn’t sell I’d like the see the ground level rendering of how that house will look with a skyscraper pushed up next to it ga('send', 'event', 'beautyofblock', 'Impression', 'https://newyorkyimby.com/wp-content/uploads/2025/04/Standard_336x280-100-2.jpg', { nonInteraction: true }); ADVERTISEMENT ga('send', 'event', 'PCRichards Builders Division', 'Impression', 'https://newyorkyimby.com/wp-content/uploads/2025/05/PCR_Beko_Compact_YIMB_336x280.jpg', { nonInteraction: true }); ga('send', 'event', 'yimby+', 'Impression', 'https://newyorkyimby.com/wp-content/uploads/2024/01/image.png', { nonInteraction: true }); Follow on Instagram var sb_instagram_js_options = {"font_method":"svg","placeholder":"https:\/\/newyorkyimby.com\/wp-content\/plugins\/instagram-feed\/img\/placeholder.png","resized_url":"https:\/\/newyorkyimby.com\/wp-content\/uploads\/sb-instagram-feed-images\/","ajax_url":"https:\/\/newyorkyimby.com\/wp-admin\/admin-ajax.php"}; © COPYRIGHT New York YIMBY® LLC YIMBY IS A REGISTERED TRADEMARK OF NIKOLAI FEDAK / NEW YORK YIMBY LLC Korean investment group with origins in the cosmetics industry has invested significant capital in several market-leading NYC real estate projects LLC ("INCOCO") announces the expansion of its real estate investment platform in the United States with two market-leading investments The company partnered with Tavros Holdings LLC ("Tavros") to acquire a trophy development site located at 24-19 Jackson Ave in the Court Square submarket of Long Island City for $68.3 million INCOCO and Tavros will combine the acquired site with the neighboring lots currently owned by Tavros and co-develop the aggregated site into a 55-story Class A mixed-used tower with more than 600 apartments and 90,000-square feet of commercial space The project is located one block from the Court Square subway station and is one of the most transportation and commuter friendly locations in the outer boroughs of New York City In connection with the project's construction the development team has partnered with the MTA to improve the subway infrastructure in Long Island City Once the building is completed it will enjoy proximity to the nearby parks views and a myriad of water activities in the East River INCOCO led the $156.6 million acquisition of the residential and parking components of The Dime at 275 South 5th St in Williamsburg 23-story terra-cotta and glass tower developed by Tavros Holdings The Dime is architecturally intertwined with the landmarked 1908 Dime Savings Bank and is comprised of 177 rental apartments with two floors of below grade parking "We are thrilled to be part of these two incredible projects as well as continuing to strengthen our relationship with Tavros Holdings," said Fa Park "Joining forces with Tavros was a great fit as our firms are both dedicated to bringing the absolute best product to New York City residents." we are delighted to begin work at our Long Island City project," said Nicholas Silvers "Our valued relationship with INCOCO has been crucial in completing the acquisition of what we believe to be the single best development site in Long Island City To share our work together is a real honor." the inventor and manufacturer of the world's first dry nail polish strips has been employing innovative and proprietary technologies to transform the cosmetics market since the company's launch in 2005 INCOCO's Color Street brand launched in 2017 has grown into one of the most prolific direct selling companies in the United States and was ranked 24th amongst direct selling companies globally in 2020 Now with a worldwide distribution channel and full cosmetic lineup INCOCO aims to become a premiere and global cosmetic group. With a successful track record of investment in both public and private markets LLC has expanded its investment mandate to include the real estate sector INCOCO has invested in four substantial real estate development projects this year already. Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life. TrendingDevelopment New YorkATavros and Charney land Chelsea Piers Fitness for LIC towerGym takes six stories The expanding Chelsea Piers Fitness was looking for a home in the most booming section of Queens — Long Island City — and found one in a 55-story project by Tavros, Charney Companies and Fa Park’s Incoco Capital David Tewksbury’s Chelsea Piers signed a lease for 72,000 square feet across six stories at the soon-to-rise apartment tower in the Court Square section. The New York Post first reported the deal Tavros, Charney and Incoco plan for construction of the 600-unit building to begin shortly at 24-11 Jackson Avenue the northeast corner of Jackson Avenue and 23rd Street JLL represented the fitness club in the deal describing Long Island City as “one of the fastest-growing neighborhoods in New York.” SIGN UP“With its growing population and development pipeline Long Island City is the ideal location for our next fitness club,” Tewksbury said in a statement The gym will be Chelsea Piers Fitness’ seventh in the tri-state area The company opened its first stand-alone fitness club in Downtown Brooklyn in 2018 It also plans to open a 56,000-square-foot four-level club at SL Green’s new One Madison skyscraper in the Flatiron District next year David Linn with the White Plains-based The Galinn Fund LLC has sold the parcels at 251 Douglass St. to New York City-based Tavros Capital Partners and the Charney Companies of Long Island City. David Linn with the White Plains-based The Galinn Fund LLC has sold the parcels at 251 Douglass St. to New York City-based Tavros Capital Partners and the Charney Companies of Long Island City. The deal was announced by JLL Capital Markets. The development opportunity at 251 Douglass St. is a three-lot assemblage that spans 18,500 square feet. The property includes an existing, vacant 5,000-square-foot brick structure. The site is directly across the street from Thomas Greene Playground and is just one block from the Gowanus Canal. The three tax lots are located in a QOZ. Per the recently released New York City Department of City Planning Gowanus zoning proposal, 251 Douglass St. is situated within M1(3)/R6A and M1(4)/R7X zoning districts, which would allow for approximately 96,000 buildable square feet of new development, according to JLL. JLL vice chairmen Stephen Palmese and Brendan Maddigan and managing directors Ethan Stanton, Winfield Clifford and Michael Mazzara oversaw the sale of the parcels. "As a result of the proposed rezoning, there continues to be significant interest from developers and owners alike in capturing tomorrow's value, today," JLL Mazzara says. "The sale of these assets represents the transformation of Gowanus that will be realized in the future, happening now." SHARE ON FACEBOOK John Jordan John Jordan is a veteran journalist with 36 years of print and digital media experience teams and firms that continually drive the sector’s performance as the 2025 Influencers in Industrial Nominate a candidate before the May 14th deadline Demand has pulled back after being one of the hottest office recovery markets in the country This trend could inject residents into many parts of Manhattan and bring new life to areas too reliant on commercial uses Picking the right renters insurance can be a headache This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk Are you noticing unexpected shifts in office occupancy and commuter behavior This report reveals how evolving work patterns are challenging CRE brokers and offers crucial Discover a detailed analysis of office visit fluctuations real-world examples to inform strategic decisions and actionable metrics to guide client advising Commercial property teams are navigating changing times where technology plays a crucial role in operations based on insights from 370 industry professionals and opportunities for CRE technology adoption in 2025 / For questions about GlobeSt.com, please call 800-458-1734 (9:00am-5:30pm ET, Monday through Friday, except holidays), or send an email to [email protected] Six-story fitness club to anchor the 24-11 Jackson Avenue mixed-used development located at the center of Long Island City’s Court Square neighborhood Chelsea Piers Fitness (CPF) has signed a long-term lease to anchor a new residential tower at 24-11 Jackson Avenue located at the heart of Long Island City’s Court Square submarket The fitness club will be 72,000 square feet and represents the Chelsea Piers Fitness brand’s seventh location in the New York City Metro 24-11 Jackson Avenue is being developed by Tavros and Charney Companies Chelsea Piers Fitness will create a premier best-in-class fitness club where building residents and members will enjoy life-enhancing fitness Their initial plans include a spacious member lounge and workspace group fitness studios including cycling and heated / non-heated yoga extensive cardio and weight training equipment as well as large functional and athletic training spaces “24-11 Jackson Avenue offered unrivalled new space and a dynamic seven-day-a-week location in one of the fastest-growing neighborhoods in New York,” said Erin Grace this was a natural decision for this established leader in sports and fitness.” JLL expects that CPF will be a strong attraction for the leasing of the additional 10,000 squarefeet of retail space in the tower “Chelsea Piers Fitness creates distinguished fitness clubsand athletic facilities where our members can feel relaxed engaged and inspired to reachtheir fitness goals as part of a vibrant community,” said David Tewksbury “With its growing population and development pipeline Long Island City is the ideal location for our next fitness club and 24-11 Jackson Avenuewill be a perfect new home for our iconic We could not be more enthusiastic to partner with Tavros and Charney Companies on this remarkable project.” Situated on the northeast corner of Jackson Avenue and 23rd Street at the main entrance of the Court Square subway station 24-11 Jackson Avenuewill be a 55-story mixed-use tower with approximately 600 apartments and 80,000square feet of commercial space “We are thrilled to announce this ground-breaking partnership with Chelsea Piers Fitness I couldn’t be more excited to play a small role in theexpansion of Chelsea Piers’ iconic brand and impressive business Chelsea Piers Fitness bringsan impeccable fitness product with state-of-the-art facilities and authentic community and social engagement that sets them apart The club that Chelsea Piers Fitness is planning at 24-11 Jackson Avenue will have a profoundly positive impact on the lives of Long Island City residents.” Chelsea Piers is an established sports and fitness leader in the New York tri-state area with sevenlocations including its flagship 1,000,000-square-foot 28-acre sports and entertainment complex at Pier 60 on the Hudson River The company opened its first stand-alone fitness club in Downtown Brooklyn in 2018 and its success generated a strategic rollout that includes a signature 56,000-square-feet four level fitness club at SL Green’s new One Madison skyscraper in the Flatiron District set to open in 2024 Located one subway stop from Manhattan,24-11 Jackson Avenueis steps away from leading retail brands Long Island City is also home to world-class restaurants where ferries traverse from its docks to many parts of New York City “With growing residential interest in Long Island City it has been critical to also bring sought-after amenities to the neighborhood,” said Sam Charney “We are confident that the addition of Chelsea Piers Fitness will be a huge boon to the area and are thrilled to work with them to bring their impressive visionto fruition.” JLL executive managing director Erin Grace and executive vice president Matt Ogle serve as agents to Chelsea Piers Fitness in the Northeast United States and represented them in this transaction Tavrosand Charney Companies were represented in-house including its flagship 150,000-square-foot fitness club located at Pier 60 on the Hudson River and its signature club at SL Green’s One Madison Avenue in the Flatiron district scheduled to open in 2024 Chelsea Piers Fitness is an established leader in sports and fitness in New York City and more broadly in the tri-state area luxury locker rooms and other special amenities mixed with state-of-the-art strength Chelsea Piers Fitness has become the preferred 3rd space for a diverse mix of New Yorkers ranging from fitness enthusiasts to working parents to remote workers and beyond New York City is embedded in the brand’s DNA with each club actively immersed in the local community with particular emphasis on engaging with local culture Chelsea Piers Fitness was born out of Chelsea Piers the iconic Sports + Entertainment complex founded in 1995 spanning piers 59-62 in Chelsea Chelsea Piers offers the most dynamic sports fitness and entertainment programming for youths teens and adults across the New York tri-state area INCOCO is the world’s first dry nail polish manufacturer with an innovative technology that stepped onto the beauty scene in 2006 has grown into one of the best direct selling companies in the US ranked 24th among direct selling companies globally in 2020 the company is now aiming towards becoming a total cosmetic company group After years of investing in the financial market expanding its investment on the real estate sector INCOCO invested in four real estate development projects this year already a leading global commercial real estate and investment management company manage and invest in a variety of commercial A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world our more than 103,000 employees bring the power of a global platform combined with local expertise Driven by our purpose to shape the future of real estate for a better world people and communities SEE A BRIGHTER WAYSM © Copyright 2012 - 2023 | citybiz | All Rights Reserved Discover the latest MyICAEW app for ACA students and members, available to download now. 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Find out how you can become authorised by ICAEW as a regulated firm. I began my career at Ball Baker Leake/Mazars a fantastic traditional 250 employee firm off the Strand in London a national firm and finally a move as a manager to Grays Inn Road in Central London with M Aris & Co a three partner practice specialising in partnerships and family owned business For personal reasons I came to Cyprus and joined KPMG followed by Coopers & Lybrand as a manager I left Coopers & Lybrand and took up a position as a General Manager of a small Hotel in Paphos while at the same time supporting Globaltraining University of Nicosia with the ACA qualification In 2000 I became a full-time member of staff at Globaltraining with the responsibility of the Chartered Accounting programme and in 2008 I was promoted to Director I currently hold the position of Deputy CEO and our new subsidiary Invictus in Limassol I have instrumental in the expansion of ICAEW qualification in Cyprus One of my key responsibilities as a Deputy CEO is to visit and talk on a daily basis with all ICAEW approved training firms I am happily married to Theodora for 23 years and we have two lovely children The Institute of Chartered Accountants in England and Wales incorporated by Royal Charter RC000246 with registered office at Chartered Accountants’ Hall Cancel TrendingCommercial New YorkAGowanus gold rush: Avery Hall Charney buy sites for $55MProperties on 3rd Avenue Union Street and President Street acquired from the Pontone family Avery Hall Investments is doubling down on its Gowanus bets with another major purchase The firm struck up an unusual partnership with Tavros Holdings and Charney Development & Construction to buy 232 3rd Avenue 532-542 Union Street and 495-499 President Street for $55 million The adjacent parcels span about 52,000 square feet — 33,550 square feet at Third Avenue and 18,845 square feet at Union and President Streets — and should provide about 233,000 buildable square feet if a pending neighborhood rezoning goes through Avery Hall previously outbid Tavros for Gowanus sites at 469 President Street, 473 President Street and 514 Union Street, paying $44.1 million to EcoRise Development in September That assemblage allows for almost 100,000 square feet of as-of-right commercial development The two firms then connected during the bidding process for the newer sites and resolved to divide up the properties and buy them together rather than compete with each other for the same space “We decided it was in both of our interests just to partner for the sites,” said Colin Rankowitz “Avery would take down the lots that were for sale on the south side of Union Street and Tavros and Charney are taking the lots that were for sale on the north side.” This marked the first time in about 50 years that the properties hit the market Property records identified the Pontone family as the longtime owners They are located in an Opportunity Zone and zoned for manufacturing but residential projects would be allowed if the proposed rezoning of the neighborhood passes in its current form Tavros’ portion of the purchase consists of the Third Avenue site and comes out to about $36.5 million while Avery Hall’s is comprised of the Union Street and President Street sites and totals roughly $18.5 million SIGN UPThe companies are still finalizing some details on how the split will work who led the brokerage team along with company founder Ofer Cohen “These are really prime locations for the transformation of this neighborhood assuming that the rezoning goes through,” Marks said Tavros and Charney plan to construct a residential building with retail space and affordable housing after the rezoning Charney COO Justin Pelsinger said in a statement that the project will aim to “preserve and pay homage to the industrial character of this neighborhood” and “serve the needs of Brooklyn’s growing population.” The firm’s other projects include the redevelopment of 44 Ninth Avenue in the Meatpacking District and turning the Dime Savings Bank building in Williamsburg into a 23-story mixed-use property Avery Hall’s purchase adds to an assemblage that started with their September deal for the President and Union Street sites The firm is also planning a rental project in Gowanus at 204 Fourth Avenue The company is still figuring out its plans for the sites but thinks a mixed-use development with commercial and residential space would make the most sense according to founding principal Brian Ezra They are partnering with Gemdale USA on the project The highest-profile business using the property is the popular Royal Palms Shuffleboard Club which Ezra described as a great business that Avery Hall loves having as a tenant “We have no immediate plans for the Shuffleboard Club to be anything other than exactly what it is,” he said The purchases come on the eve of the long-anticipated rezoning which has started to move forward in earnest The Department of City Planning released a proposal earlier in the year that covers 80 blocks near the Gowanus Canal and would allow for mixed-use developments along the water has been helping to build community consensus for new zoning Tavros, Charney close on $68.3M purchase of development site from Toyoko Inn. with a neighboring parcel that they own at 45-03 23rd Street to create a site large enough for the high-rise which will become the one of the tallest residential towers in Queens which bought the property in 2007 and filed plans with the city to build a 50-story CBRE represented the seller in the transaction The buyer and the seller reached an agreement on the deal in May which enabled the joint venture of Tavros and Charney to complete foundation work for the new development in June—in time for the project to qualify for NYC's 421a tax abatement Toyoko Inn shelved its plans for a hotel and put the property up for sale in December after the City Council passed a new requirement for developers to obtain special permits before constructing new hotels Despite the battering the NYC hotel industry was taking during the pandemic—leading to a "fire sale" of midtown hotels being sold at a loss—the City Council on December 9 adopted a text amendment to the New York City Zoning resolution that imposes a special permit requirement for virtually all new hotels in NYC The measure was imposed after lobbying from community groups expressing concern about the impact on neighborhoods of NYC's growth in tourism in recent decades the annual number of tourists visiting New York City nearly doubled and the number of hotel rooms in the city doubled to meet that growth Labor groups also supported the new permit requirement which they said would ensure that new hotels in the city are high-wage operations the Tavros Capital and Charney Companies Partnership bought a full-block site at 318 Nevins Street along a newly rezoned stretch of the Gowanus Canal from Property Markets Group for $102M The joint venture will be building a 500K SF apartment building on the site the City Council rezoned a manufacturing neighborhood adjacent to the Canal across an 82-block area to permit mixed-use developments including 8,500 new apartments of which 3,000 will be designated as income-restricted The Gowanus Canal recently emerged from a cleanup under the federal Superfund program / For questions about GlobeSt.com, please call 800-458-1734 (9:00am-5:30pm ET, Monday through Friday, except holidays), or send an email to [email protected] TrendingPopular New YorkAOne of Williamsburg’s tallest projects just got a $150M construction loanSquare Mile is lender for the 23-story redevelopment of Dime Savings Bank Tavros Capital Partners and Charney Construction & Development secured a $150 million construction loan for their redevelopment of the Dime Savings Bank building in Williamsburg into a 23-story mixed-use property poised to be one of the Brooklyn neighborhood’s tallest developments Plans call for 177 rental apartments as well as 100,000 square feet of offices and 40,000 square feet of retail The 109-year-old bank is being incorporated into the new much larger 340,000-square-foot structure called “the Dime.” The developers broke ground this spring on the site and construction is slated for completion by spring 2019 Mark Fisher and Doug Baillie brokered the deal Tavros and Charney previously partnered to develop the Jackson, an 11-story condominium in Long Island City that opened last year Square Mile, an investment manager led by Craig Solomon, is also negotiating to provide about $250 million in construction financing for the Essex Crossing project, as TRD first reported TrendingCommercial New YorkATavros seeking partner for Meatpacking redevelopment projectInvestor would likely take majority stake in three buildings at West 14th Street and Ninth Avenue Tavros Capital Partners is looking to bring in an equity partner at its Meatpacking District mixed-use redevelopment Tavros is planning to reposition the three four-story retail-and-residential walk-ups at the corner of West 14th Street and Ninth Avenue Sources said the developer is considering expanding the roughly 50,000-square-foot collection of buildings to as much as 80,000 square feet renovating the existing 82 rental apartments and bringing in a flagship retailer No plans have been filed with the city yet SIGN UPThe Diner vacated its space last year but other tenants such as Gansevoort Market Le Pain Quotidien and L’Occitane en Provence remain A Hodges Ward Elliott team led by Will Silverman Paul Gillen and Daniel Parker is marketing the stake Tavros and the brokers declined to comment TrendingNew YorkAHakim buys majority stake in High Line development for $44MTavros Capital sells 80 percent interest in the five-story rental property The Hakim Organization bought an 80 percent equity stake in luxury rental High Line 537 for $44.2 million Event space Skylight Modern occupies 2,200 square feet on the ground floor of the building SIGN UPHakim, together with Kevin Maloney’s Property Markets Group, is looking to develop a skyscraper in Long Island City that could become the tallest structure outside of Manhattan Eastern Consolidated’s Brian Ezratty and Ross Weiner represented Tavros and the firm’s Azita Aghravi represented Hakim. [NYP, 2nd] — Claire Moses Services on the Green Line (Line 1) of the Athens Metro between Tavros and Piraeus have been temporarily halted due to a fire that broke out in the cables on Tuesday morning the fire was extinguished after the intervention of the Fire Service Efforts are underway to repair the damage caused to the power lines and signals and to restore services SEARCHThe global authority in superyachting Bart de Ven at Tavros Yacht Marketing and Sales writes in to say that September 1st saw Marcel Offereins join him as yacht broker and managing partner. Specialising in the field of sailing superyachts, Marcel has spent his working life in the yachting industry and as a broker since 1996. Both Bart and Marcel are sworn and EMCI-certified brokers. Latest news, brokerage headlines and yacht exclusives, every weekday SubscribeSign up to our newslettersSign up to BOAT International email newsletters to get the latest superyacht news Boat International Media Ltd © 2008 - 2025 Content presented under the "BOAT Presents" logo is an advertising feature and Boat International Limited has been paid to include this content TrendingCommercial New YorkAThese were the five priciest development sites sold in NYC in 2021Gowanus deal tops the list The land market was one of New York City’s weaker real estate segments in 2021. The five largest deals for development parcels last year fetched nearly $435 million altogether, a slight increase from pandemic-stricken 2020 but still a 27 percent decrease from 2019’s $597 million As in previous years, proposed residential developments once again dominated the list, but one deal for a warehouse development in Brooklyn — a possible sign of the times as the logistics sector continues to enjoy voracious demand Below are the five most expensive development sites sold in New York City last year: With the Gowanus rezoning finally approved Tavros Capital and Charney Companies bought this full-block site at 318 Nevins Street along the Gowanus Canal from Property Markets Group for $102 million founded by partners Dov Barnett and Nicholas Silvers and Sam Charney’s Charney Companies plan to build approximately 660 rental apartments on the property The property at 318 Nevins Street sits in an Opportunity Zone between Union and Carroll streets on the eastern side of the canal The project will use the addresses 320 Nevins Street and 340 Nevins Street This September sale ended a long-running family feud over a prized Financial District development site Pink Stone Capital founder Richard Ohebshalom sued his father in 2017 to try to block the sale of the site which can accomodate a 50-story tower with 400 residential units Richard ultimately bought his father out of the property and put it back on the market in 2020 North Carolina-based Grubb Properties picked it up and plans to develop the parcel with an address of 8 Carlisle A trio of developers plans to build a 12-story 500-unit residential property on this Long Island City site Domain Companies and L+M Development partners picked up the property from self-storage company Fortress Corporation allows for up to 420,000 square feet of residential space Joe Sitt’s Thor Equities sold a stake in its Amazon-anchored warehouse development in Red Hook to a “foreign entity” as part of a larger recapitalization Thor plans to build a state-of-the-art distribution center with more than 300,000 square feet of space, which is pre-leased to Amazon for 20 years Sitt’s firm had originally planned to develop an office property on the site but changed direction in 2019 and decided on industrial use the developer landed a $76 million construction loan for the project Eliot Spitzer sold all but a 0.1 percent interest in a trio of Hudson Yards parcels to Stephen Ross’ Related Companies A joint venture between Related and Spitzer Enterprises is developing a large residential project nearby The deal left Related with a 99.9 percent interest in 506 and 512 West 36th Street and 511 West 35th Street, which Spitzer bought in 2013 for $88 million Related and Spitzer are teaming up with Atria Senior Living and Welltower to build a residential tower at 410 10th Avenue with 526 units about a quarter of which will be reserved for seniors