Real estate in brief

TRD New York /
Jan.January 14, 2010 06:07 PM

Saft named head of global real estate at Dewey & LeBoeuf
Stuart Saft, a partner at law firm Dewey & LeBoeuf, has been named head of its global real estate practice. In his new post he will launch two new real estate initiatives within the firm, including Strategic Utilization of Real Estate, which will advise corporate and non-profit clients, and the Disaster Assistance and Recovery Team, which will act as a problem-solving group for homeowners. In a written statement, Saft emphasized the importance of using legal expertise to solve concrete problems in the real estate industry. “The new marketplace requires real estate lawyers to take on a broader role and provide even more creative solutions to address the unusual issues facing the industry,” Saft said. “Given the constantly evolving real estate landscape, I’m dedicated to keeping the practice at the forefront of these changes.”

Warehouse 11 announces grand opening announced a grand opening party for Warehouse-11, a Williamsburg condominium located at 214 North 11th Street. The development, which had faced possible foreclosure in May last year, is now offering units with prices starting at $310,000. The grand opening party will kick off tonight at 5 pm.

Fort Greene Park gains $300,000 in funds
A Fort Greene Park renovation project is now $300,000 richer. Representative Edolphus Towns secured the funds from various different federal agencies. Towns said that he had been disappointed by the condition of the park recently, particularly given its position of prominence within the community. “Fort Greene is one of the great historical landmarks in the country but, unfortunately, many areas in the park have fallen into disrepair,” Towns said in a written statement.

Bronx facility closes for $4.5M
Christ Alive Christian Center has bought a 34,500-square-foot Bronx facility at 4217 Vireo Avenue in Woodlawn Heights from the former Our Lady of Mercy Medical Center, according to a press release sent out today from NAI Friedland Realty. The space, which sits on 50,000 square feet of land, closed for $4.5 million, with NAI broker Rick Stassa serving as a representative for both buyer and seller.

City housing gets $20M federal injection
The U.S. Department of Housing and Urban Development has awarded more than $20 million to the New York City Department of Housing Preservation and Development under a HUD neighborhood stabilization program. “The grants were awarded competitively to applicants who developed the most innovative ideas to address the impact of the foreclosure crisis on local communities while demonstrating they have the capacity to be responsible stewards of taxpayer dollars,” according to a press release from the mayor’s office. Mayor Michael Bloomberg commented on the award: “The city will use the funds to buy, renovate and resell foreclosed properties in the most-affected neighborhoods to low- and moderate-income families.” In a separate statement, Manhattan Borough President Scott Stringer emphasized the importance of federal financial backing for city housing initiatives. “The dedication of $20 million in new stimulus funds announced today provides the City with a significant opportunity to develop sorely needed affordable housing units,” Stringer said. Two other New York City housing agencies received federal funding: Habitat for Humanity New York and Community Builders.

LIC development L Haus partners with magazine for event

Long Island City residential development L Haus and Edible Queens magazine will co-host a free event called the “Annual Winter Warm-Up” Jan. 24 at the condo building at 11-02 49th Avenue, according to a press release. The event will include a tour of completed model units and completed amenities in the building. The developers have recently offered buyers 90 percent financing (note: correction appended)

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