OPEN Impact Arranges Coney Island Ground Lease for Charter School
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 133rd New York story tracked on the wire in September 2026. All New York coverage →
Computed from Real Estate Trail’s own tracked coverage
OPEN Impact Real Estate represented Coney Island Preparatory Public Charter School in securing a 39-year leasehold condominium for a new 45,190-square-foot ground-up high school at 773 Neptune Ave. in Brooklyn. The ne…
External link. Real Estate Trail does not republish source content.
Related coverage — New York
Vornado Downsizes Plans For Manhattan Office Tower
Upper Manhattan Empowerment Zone Relocates HQ to 9K SF at 119 West 125th Street
The nonprofit Upper Manhattan Empowerment Zone Development Corporation (UMEZ) is moving its nonprofit headquarters to 119 West 125th Street in Harlem, Commercial Observer has learned. UMEZ, which finances community de…
141Willoughby Residential Conversion Snags $208M Construction Loan
Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, originated a $208-million first mortgage construction loan for 141 Willoughby St., a 24-story, 355,000-square-foot Class A towe…
Municipal Credit Union Signs 6K-SF Lease for New Branch at 162-15 Jamaica Avenue
Municipal Credit Union (MCU) has signed a lease to open a new retail branch in Jamaica, Queens, Commercial Observer has learned. The not-for-profit credit union, which has locations citywide and caters only to New Yor…
Multifamily Developer LCOR Buys Taconic’s UES Life Sciences Site for $73M
Taconic Partners has parted with another life sciences project in Manhattan. The developer sold 309 East 94th Street on the Upper East Side for $73 million, according to city records filed Thursday. The buyer, LCOR ,…