Bridge represented a family office in the acquisition of 298 W. 231st Street, a 250,000+ BSF mixed-used development site. Bridge sourced the off-market development site and negotiated the transaction for our client, who was in a time restricted 1031 exchange. The site was a former free-standing retail building with parking.

Bridge represented twenty five individual condominium owners in the disposition of excess residential air rights to Rockrose totaling 115,000 square feet. Rockrose, purchased the adjacent parking garage and is planning a large multifamily development with retail services on the ground floor.

Bridge represented the fee owner in identifying a development partner and structuring a joint venture agreement for the redevelopment of a 43,000 SF residentially zoned former warehouse.

Bridge represented Grand Metro Auto, Inc. in procuring a 30-year lease with MicroGrid for approximately 23,000 square feet of land for the development of a micro energy grid. Grand Metro Auto operated an automotive salvage business on this site for 25 years and merged this operation with another existing location. Bridge initially marketed this property for sale however based on the credit worthiness of the tenant and the appeal of long term cash flow, a lease was ultimately more favorable.

Bridge represented EIK Harlem Associates in negotiating a 99-year ground lease with Real Estate Equities Corporation (REEC), an NYC based development firm, for 132,456 buildable square feet. EIK Harlem Associates, is a long term multigenerational family office who saw the value of retaining fee simple ownership while allowing a tenant/ developer to capitalize on the East Harlem Rezoning.

Bridge represented Grinnel Street Realty Corp in negotiating a 99-year ground lease with DH Property Holdings for the development of an 88,000-square-foot, modern logistics warehouse. Grinnel Street Realty Corp. is a multigenerational family office which operates their business from this location. They have owned the property for forty plus years and were able to generate substantial cash flow by parceling off an underutilized portion of the site while retaining long term ownership.

Bridge represented North East Brooklyn Housing Development Company, a not-for-profit organization with a mission to provide affordable rental housing to low-income residents of Central Brooklyn, in the sale of 22 multifamily buildings and five mixed-use buildings to ELH Management. ELH is an HPD approved affordable housing operator and community developer.

Bridge was retained by Cornerstone OnDemand to independently audit their existing lease and determine the potential of subleasing approximately 32,000 RSF of underutilized space. Cornerstone OnDemand® (NASDAQ: CSOD) helps organizations to recruit, train, and manage their people.