Real estate in brief

December 01, 2009 02:23PM

Kaufman unveils NYC-focused commercial acquisition branch
Commercial property owner the Kaufman Organization has started Kaufman New Ventures, a division devoted to acquiring more commercial properties in the New York City region. The group said that it had previously avoided many New York City commercial investments because they were priced to “irrational levels,” according to a press release. George Kaufman, chairman of the group, said that the recent depreciation in commercial values makes now the ideal time to act. “In the current economic climate, now is the time to start acquiring new commercial properties,” Kaufman said.

Green-focused Harlem development initiates sales
Halstead Property Development Marketing has kicked off sales at Harlem development Metropolis, a green-centric condominium at 51 East 128th Street at the corner of Madison Avenue. The 13-unit building features one- and two-bedroom homes ranging from $350,000 to $465,000, with occupancy planned for around spring 2010. Among the building’s green features are a solar water heater, common LED lighting and energy efficient Low-E windows.

Kondylis launches new design firm
After announcing the dissolution of his firm Costas Kondylis and Partners this summer, Costas Kondylis has officially launched his new enterprise, Costas Kondylis Design LLC. The firm, which has brought on Lynx Finances Group, a Luxembourg-based investment company, as a partner, will focus on green building design. In a statement released today, Kondylis said that Lynx’s background in investing in green buildings and businesses jives with his new enterprise’s mission. “I am especially intrigued by the environmental focus of Lynx,” Kondylis said. “I look forward to utilizing their experience in energy efficiency, as I intend to incorporate sustainable and environmentally-friendly design into all of my future projects.” TRD