Brad Zackson’s Dynamic Star borrows $115M for Bronx, LIC projects

Brad Zackson’s development firm scored three loans totaling $115 million for its Fordham Landing project in the Bronx and a planned Long Island City office tower. Connecticut-based Dynamic Star, led by Zackson and Gary Segal, secured the bridge loans from Columbia Pacific Advisors, according to a release. The financing will be used to reposition the site of an office project at 23-10 Queens Plaza South in Long Island City and to maintain adjacent properties at

The post Brad Zackson’s Dynamic Star borrows $115M for Bronx, LIC projects appeared first on The Real Deal New York.

Judge rules Donald Trump can keep running Bronx golf course

The city shanked its shot at kicking Donald Trump’s company out of its management role at a Bronx golf course when a State Supreme Court judge ruled on Friday the city’s grounds for doing so were flawed. According to the New York Post, the city claimed that the Trump Organization couldn’t continue to run the Trump Golf Links at Ferry Point because the former president’s connection to events such as the Jan. 6, 2021 riots

The post Judge rules Donald Trump can keep running Bronx golf course appeared first on The Real Deal New York.

Adams to revive denounced sprinkler bill after deadly Bronx fire

Two months after a fire in the Bronx killed 17 New Yorkers, Mayor Eric Adams said he would work with the City Council to pass fire safety legislation to help prevent another tragedy. One measure on Adams’ agenda would require sprinklers in city apartment buildings — an idea that Council members sent back to the drawing board in late 2020 after owners said it would be disruptive to tenants, impractical and unaffordable. Landlords now say they’re

The post Adams to revive denounced sprinkler bill after deadly Bronx fire appeared first on The Real Deal New York.

Dynamic Star lands partners for Fordham Landing

When it comes to its plans for a massive Bronx development, Dynamic Star won’t have to go it alone. Namdar Realty Group and Gorjian Acquisitions are joining the Fordham Landing project, combining to take an approximately 50 percent equity stake, Crain’s reported. The development is expected to cost about $2 billion. The transaction was arranged by Meridian Capital Group’s Shlomo Weissberg on behalf of Dynamic Star. Fordham Landing is set to be one of the

The post Dynamic Star lands partners for Fordham Landing appeared first on The Real Deal New York.

City investigating maintenance issues amid fires at NYCHA buildings

Maintenance issues are at the center of a probe by the city’s Department of Investigation into a recent string of fires in public housing developments. The agency is investigating three separate fires, according to The City. Those fires all devastated NYCHA developments: the Jacob Riis Houses in the East Village, Wise Towers on the Upper West Side and Mitchel Houses in the South Bronx. Investigators are examining maintenance problems tenants say were left unaddressed, including

The post City investigating maintenance issues amid fires at NYCHA buildings appeared first on The Real Deal New York.

Lawmakers push for heat sensor mandate in wake of Bronx fire

Lawmakers are moving to mandate heat sensors in all federally funded buildings in the wake of a deadly fire at a Bronx apartment complex earlier this month. Sen. Kirsten Gillibrand and Rep. Ritchie Torres, both Democrats from New York, plan to introduce a bill in the Senate and House that will require heat sensors in residential buildings across the U.S. that receive federal funding such as Section 8. The proposal would enable the U.S. Department

The post Lawmakers push for heat sensor mandate in wake of Bronx fire appeared first on The Real Deal New York.

Bronx fire survivors file lawsuit against apartment landlords

Two survivors of the fire in a Bronx apartment building that killed 17 people have filed the first lawsuit against the building’s property owners. Lead plaintiffs Rosa Reyes and Felix Martinez are seeking $1 billion in compensatory damages for themselves and other victims of the fire, the Wall Street Journal reported. Defendants in the lawsuit include the current property owner — LIHC Investment Group, Belveron Partners and Camber Property Group — as well as the

The post Bronx fire survivors file lawsuit against apartment landlords appeared first on The Real Deal New York.

Bronx building where deadly fire occurred had faulty door, heat issues

A month ago, a resident at 333 East 181st Street complained that a self-closing door was not working and that a malfunctioning radiator had left an entire unit without heat. Early reporting suggests similar issues in a separate apartment in the West Bronx building may have contributed to the Sunday morning blaze that killed 17 people, including eight children, in the city’s deadliest fire in three decades. The fire broke out in the bedroom of

The post Bronx building where deadly fire occurred had faulty door, heat issues appeared first on The Real Deal New York.

Horrific fire at Bronx Mitchell-Lama shocks city

A blaze that began in a second-floor duplex in the Bronx Sunday morning sent smoke racing up the 19-story building, killing at least 19 people including nine children. It was the city’s worst fire tragedy in decades. Firefighters arrived within three minutes of the first call, around 11 a.m., and found victims on every floor of the 120-unit building, 333 181st Street. An investigation into the cause of the blaze, as well as why the

The post Horrific fire at Bronx Mitchell-Lama shocks city appeared first on The Real Deal New York.

Bronx landlord could lose property after filing for wrong type of bankruptcy

An age-old adage posits that anyone who represents themselves in court has a fool for a client. A Bronx landlord couple is learning that lesson the hard way. Had Alejandro and Rosa Quito retained an attorney before filing for bankruptcy in May, they may have been advised to pursue Chapter 11 instead of Chapter 7. Now, an upcoming auction could see the couple lose their property at 540 Concord Avenue in the Bronx’s Mott Haven

The post Bronx landlord could lose property after filing for wrong type of bankruptcy appeared first on The Real Deal New York.