NYREJ

10-30-12

The New York Real Estate Journal provides the latest commercial real estate news for the entire state of New York. Read profiles of the most influential companies and people involved in the NY commercial real estate market.

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New England Real Estate Journal New York Real Estate Journal Newsstand Price $3.95 USA Printed on recycled paper facebook.com/nyrej twitter.com/nyrej October 30-November 12, 2012 nyrej.com Volume 24 ■ Issue 20 Project of the Month / UPS/ PAGES 8-9B Taylor breaks ground for The Legends at North Ponds: New 114-unit affordable senior housing project Edition nyrej.com Digital Green Buildings SPECIAL INSERT This Week's Sections ROP, Upstate, Billboard Cover Story facility for Catholic Health UPS / COVER B Uniland Development to construct 140,000 s/f Executive of the Month NY / PAGE 18A Peter Hennessy, N.Y. Tri-State president of Cassidy Turley: Leads by example and fosters a team environment Maefield, Infinity, Witkoff and New Valley acquire Times Square Gateway development site-$430m NY / COVER A Erik Yankelovich Office Space NY / PAGE 2A Columnist HFF represents seller in $38.35m sale of SoHo dev. site NY / PAGE 8A Peter Hennessy, president Cassidy Turley Green Buildings Special Insert Section New York Real Estate Journal October 2012 CPC, Bluestone Devs. and Apollon celebrate $7.8m rehab of green affordable housing proj. PORT WASHINGTON, NY State and local officials joined NYS comptroller Thomas DiNapoli, the U.S. Dept. of Housing and Urban Development (HUD), The Community Preservation Corp. (CPC), NYS Homes and Community Renewal (HCR), Bluestone Developers, Inc., and Apollon Group (www.apollongroupllc.com) to celebrate the completed rehabilitation of Cow Bay Apart- ments, an 88-unit green affordable housing complex. Located at 2 Bay Green Ln., Cow Bay was created in 1971 with financing from HUD. The property con- sists of seven two-story garden apartment buildings with 10 studio, 21 one-bedroom, 22 two-bedroom, 29 three-bedroom, and six four-bedroom apartments. A new 20-year HAP contract from HUD ensures that the project remains affordable to residents. Financing for the $7.8 million rehabilitation of Cow Bay includes a $10.15 million construction loan from CPC under its Green Financing Initiative. CPC's con- struction loan is supported by the NYS Common Retire- ment Fund. In addition, the project received a $270,000 grant from Nassau County, which was paid when the construction loan converted to permanent financing, as Quick Read Eldor awarded 7kW photovoltaic system project project for the Manhasset (UFSD) The project was funded through a $29,250 grant from CBS EcoMedia, Inc. SEE PAGE 10 Eldor Contracting Corp. completed a renewable energy Mark Bourbeau ..........................................................................2 Green Building Experts ...........................................................3-8 Also Inside 20 Pages facebook.com/nyrej twitter.com/nyrej Printed on recycled paper Shown (from left) are: Brian Staley, Carmelia Torino, Norman Gersman, Wayne Wink, DiNapoli, Beula Powell, Kenneth Bunn, Rafael Cestero, George Fakaris, Jerome Blue, Gregory Watson, Mirza Orriols and Sadie McKeown. well as a new 20-year HAP contract from HUD, and is insured by SONYMA. The renovations include three new, energy efficient boilers, new roofs, and reinforcement of a retaining wall surrounding the complex. In addition, upgraded win- dow and door insulation and a new laundry room were installed. As part of the green financing loan process, CPC performed an energy audit, resulting in substan- tial modification of the project's original construction. Bluestone developed the project and Apollon was the contractor. Helios Energy Systems completes solar installation proj. for supermarket chain QUEENS, NY Helios Energy Systems (www.helioses.com) has completed a solar energy system installation project for a leading ethnic supermarket chain's distribution facility in Maspeth. The 35,000 s/f ware- house facility now operates a 101-kW solar energy system that will generate electricity for the building's refrigeration requirements, greatly reducing its overall electricity costs and dependence on the regional utility company. Helios, a subsidiary of fenestration manufacturer Crystal Window & Door Systems, worked with The Kam Man Food Corp. to coordinate the assessment, design, equipment and installer selection for a suitable photovoltaic (PV) system to meet the building's energy needs.

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