NYC real estate in brief

February 26, 2009 08:16AM

Jewelry manufacturer moves to LIC
Jewelry manufacturer Quality
Castings has moved to the Falchi Building in Long Island City, at 31-00
47th Avenue. The building offers tenants up to $3,000 in tax credits
for each of its 55 employees every year, for up to 12 years, under the
city’s relocation and employee assistance program.
With the tax incentives, Quality Casting was able to reduce its net
effective rent to less than $2 per square foot. The jewelry
manufacturer relocated from Midtown, where it was paying more than $40
per square foot in rent.

Aurora condo is 75 percent sold

L + M Development Partners’
Aurora Condominium at 837 Washington Avenue in the Bronx is 75 percent
sold out, according to the developer. The 90-unit building
has one-, two- and three-bedroom units, with ground-floor retail space.
Homeowners in the building earn between 80 percent and 130 percent of
the New York City median income. launches “for sale” section
recently launched a residential for sale section on its Web site, with
continuous updates of condos, co-ops and single-family homes on the
market in Manhattan. The for sale listings will have the same information as the property files, including last sale price, if there are any
liens on the property and what school district it lies in. TRD