In September 2015, we purchased and assembled three adjoining lots located in South Slope in Brooklyn. Shortly after, we formed a joint venture with Adam America Real Estate, the prominent New York developer who has built over 550 units in the last decade. Our development plan details a mixed-use building of approximately 85,000 sq. ft. – 59,000 sq. ft. of living space in 73 units and 4,000 sqf of retail space. The plans also include 11 stories above ground and a basement with 8 parking spaces. This community will include a state-of-the-art gym facility, a premier residential lounge and other community spaces.
We began construction at the end of December 2017. As you can see from the photos below, the ground is broken and structural enhancements are underway. Excavation and foundations are completed and concrete structure works are now underway. Leasing and marketing for the project are scheduled to start in the fall of 2018.
CGI+, the investment and development firm founded by Gidi Cohen, has filed updated plans for a major apartment complex in central Hollywood. The project would be located at 1830 North Cahuenga Boulevard, at the corner of Cahuenga and Franklin Avenue, a prime Hollywood location a few blocks north of the Hollywood Walk of Fame.
The last year has not been easy for the head of a commercial real estate company. Inflation and the Fed’s response, as well as trends that emerged from the pandemic, have clearly had an impact on the industry across all of the sectors. Besides the effect of, say, ongoing remote work on the beleaguered office asset class or the slowing pace of rent increases in multifamily, these executives have also had to navigate an increasingly difficult capital markets environment. I have some bad news for this group: the near-term future doesn’t look any easier. Enter our selection of Best Bosses this year. This year’s picks were made at least in part based on their resiliency and ability to position their companies for future growth, whenever that might occur. We are confident these strengths will see them through what could be choppy waters ahead.
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