NYC real estate in brief

March 27, 2009 01:33PM

New Williamsburg condo opens
A new condominium called Evry opened yesterday at 273-275 Manhattan
Avenue in Williamsburg. The four-story building, developed by Dan
Darouvar, has 14 units, comprised of studios, duplexes and penthouses.
Units range from 809 to 1,239 square feet, and prices are between
$449,000 and $959,000. Aptsandlofts.com is the exclusive sales and
marketing agent.

Design revealed for Jersey City waterfront park
The Jersey City Waterfront Parks Conservancy has unveiled its
“Connect the Parks” plan, designed by landscape architects Starr
Whitehouse and nArchitects. The plan involves connecting two areas of
parkland with a bridge to create a continuous walkway, and also
includes gardens, a dog run and water features.

N.J. developer launches asset recovery division
Developer Roseland Property Co. of Short Hills, N.J. has launched a
new consulting division for asset recovery services. The new division
aims to help financial institutions and other lenders and owners with
problems affecting partially built projects and property values.
“Combined with Roseland’s community building skills, master planning,
environmental remediation expertise and accessibility to public and
private sources of capital, our asset
recovery services will help clients stabilize their investments and
recover as much capital as possible,” said Principal Bradford Klatt.

Workout professionals form distressed real estate advisory team
Workout professionals from various firms have launched a New York-based distressed
real estate advisory and asset management company called Commercial
Realty Resolution. The new venture plans to help banks, insurance
companies, real estate private equity funds and government entities,
among other companies. “We are committed to maximizing our clients’ recovery
related to distressed assets in an existing portfolio, and maximizing
future returns when buying distressed assets,” said Paul Fornaby,
president of the firm, who previously co-founded the loan workout group
at Crossland Savings and managed the workout department at Apple Bank. TRD


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