The Real Deal

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NYC real estate in brief

Northside Piers

Northside Piers offering more buyer incentives
After cutting prices earlier this year, the Northside Piers development on the Williamsburg waterfront is offering a summer special where buyers will be covered for 12 months of mortgage payments, common charges, and real estate taxes -- essentially living free for a year. The incentive is for buyers who purchase units before August 31. Northside Piers also offers a 25-year tax abatement which puts real estate taxes as low as $6 dollars a month. Qualified buyers will be offered a "Borrower's Protection Plan", which is also free for one year. Prices at the buildings start at around $350,000.

F.H.A. approved loans available for Hamilton Lofts
Halstead Property Development Marketing announced today that Hamilton Lofts development in Harlem has been approved by the F.H.A. mortgage program, which will allow buyers to purchase a loft with as little as 5 percent down. Bank of America, Wells Fargo, and Powerhouse Solutions are handling the loan requests for Hamilton Lofts. In addition to the F.H.A. approval, a 15-year tax abatement is available for units at this two-building development.

Five office leases signed at 276 Fifth Avenue
Winoker Realty has negotiated five individual office leases in the past month and a half totaling 13,128 square feet at 276 Fifth Avenue. The largest lease in the building was for 4,500 square feet on the seventh floor, which was taken by California-based technology company Buzznet and will serve as the company's first New York office location. Law firm Land Mass took the second largest amount of space, 3,500 square feet, in the 11-story building. The other three tenants are Japanese investment firm Sangetsu, publisher Harold Matson and technology company Search With Imagination. TRD