NYC real estate in brief

June 30, 2009 01:37PM

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
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