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Man gets life in murder-for-hire of father to take over Bronx real estate business

Even under the most brutal circumstances, this is not the way a succession is supposed to play out. Anthony Zottola Sr., of Westchester, and Himen Ross, of the Bronx, were both sentenced in federal court to life in prison plus 112 years last week for their roles in the killing of Anthony’s father, 71-year-old Sylvester […]

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Heat sensor bill inspired by deadly Bronx fire not enough, tenants say

A year after an electric space heater ignited a blaze that killed 17 people in a Bronx apartment building, the New York City Council is considering a bill mandating heat sensors in buildings whose residents complain of low temperatures. The proposal, intended to prevent fires like the one at the Twin Parks North West complex in Fordham Heights, would fine landlords up to $1,000 for each day a building’s temperature failed to hit the city-mandated

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Gilbane buys Bronx affordable housing portfolio for $107M

Gilbane Development Company is expanding its affordable housing portfolio in the Bronx. A joint venture of Gilbane, Systima Capital Management, ELH Management and TerreAlto acquired four Section 8 projects and a development site in the Bronx for $107.5 million from Joel Gluck’s Spencer Equity. Crain’s was first to report the sale. The four buildings consist of 477 units across more than 551,000 square feet at 280 East 161st Street in Morrisania, 2363 Southern Boulevard in

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Turnbridge nabs Hunts Point warehouses, topping midsize i-sales

New York City dealmakers may have gotten an early start to their holiday vacations. Or maybe something is happening with interest rates. Whatever the case, only two transactions involving mid-market commercial properties valued between $10 million and $40 million hit city records last week. Manhattan and the Bronx each had one midsize sale last week. Below is more information on each deal, ranked by dollar figure amount. 1. An entity connected to Turnbridge Equities bought

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Midsize investors stick to apartments (or dev sites with plans for them)

Multifamily assets were the darlings of mid-market investment deals in New York City last week. Six of seven transactions for commercial properties valued between $10 million and $40 million that hit city records last week involved apartment buildings or development sites where plans for such projects are in the works. Four of the deals were in Brooklyn, two were in the Bronx and one was in Manhattan. Below is more information on each, ranked by

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Mayor finally sticks neck out for development

During his campaign for mayor, Eric Adams said all the right things about building more housing. But in the first nine months of his tenure, he didn’t do much of anything about it. On Wednesday, that changed. The mayor spoke at a rally by organized labor for a Bronx project that would build 349 apartments, 94 of them affordable and some specifically for veterans and seniors, as well as revamp a supermarket and create 40,000

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Adams throws support behind controversial Bronx rezoning

On a drizzly morning outside City Hall, Mayor Eric Adams gave a team of aspiring developers in Throggs Neck some sunny news. The mayor on Wednesday threw his support behind the Bruckner Boulevard rezoning, a proposal which would bring four developments with 349 apartments to the quiet corner of the Bronx. “This project is just right,” Adams said at a rally organized by the laborers union. “This is the right project for the right time.”

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Sunlight buys Astoria development site for $25M, leading midsize i-sales

New York City dealmakers went into the Labor Day weekend on a quieter note when it came to mid-market investment sales. Only six transactions involving commercial properties valued between $10 million and $40 million hit city records last week. Manhattan and the Bronx each had two deals, while Brooklyn and Queens had one apiece. Below is more information on each deal, ranked by dollar amount. 1. An entity connected to Sunlight Development bought a warehouse

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Turner Capital sells Bronx charter school in quiet week of i-sales

The slow pace of mid-market investment sales continued last week, as only five transactions for commercial properties between $10 million and $40 million hit city records. Four were in Manhattan and one was in the Bronx, where a K-8 charter school traded hands. Below is more information on each of the transactions, ranked by dollar amount. 1. An entity connected to California-based Turner Impact Capital sold Grand Concourse Academy Charter School at 625 Bolton Avenue

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Political candidates band together to oppose affordable housing proposals

All three Democratic candidates running to represent the East Bronx in the state Senate support affordable housing — in theory. Not one will stand up for two projects in their community, though. Assembly member Nathalia Fernandez, Christian Amato and John Perez have all come out against two projects proposed in the 34th Senate District, City Limits reported. The primary candidates are vying to replace Sen. Alessandra Biaggi, who is running for Congress. One project is

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