04/02/15 12:31pm


Sponsored By SoftDeposits.

SoftDeposits specializes in a brand-new approach to providing 'good faith' deposits for real estate transactions.

Created By BlankSlate

In real estate, timing can be your best friend and your worst enemy — often at the same time. This was the case with one Florida developer — let’s call him “Rich” — who had a plan to build a mixed-use high-rise with retail, office, and high-end residential space. The right parcel of land became available, but he didn’t have the liquidity at that moment to put down the $5,000,000 soft deposit himself. The seller needed a good faith deposit to know he was serious, the investors needed him to be in contract to know he was serious, so Rich, if he wanted to move forward with the deal, was seriously in need of the cash for the deposit.

Rich had heard about SoftDeposits, a new company started by Avi Benamu and Jack Hazan of New York’s Winchester Equities. SoftDeposits offered him an innovative approach to financing his deposit. After checking out his purchase agreement, they set up an LLC to fund the $5,000,000 deposit on his behalf. It wasn’t a loan, and Rich didn’t need to go through a credit check or provide collateral. He only needed to pay a legal fee of $2,500 up front, plus an option fee equal to 2.5 percent of the deposit. He remained in control of the deal while taking the 30-day due diligence period to secure financing.

If Rich walked away from the deal, he would have no loans to repay, and the LLC would be dissolved. The total fees to SoftDeposits, whether he moved forward with the deal or not, would never come to more than 1 percent of the price of the property. Rich’s total costs to go hard on the contract, at $325,000, would only be 0.29 percent of the acquisition.

If you’re interested in learning more about SoftDeposits and how it can help you with your real estate purchase, check out SoftDeposits.com. You can learn more about the details of its services, use its online calculator to estimate your costs, and contact the owners directly. Never again miss a big opportunity due to a temporary lack of liquidity.

05/28/13 10:00am

Picture 4

A new nine-story residential building at 41-18 43rd Street in Sunnyside has been approved by the Department of Buildings, the Sunnyside Post reported. The new project, which began construction two weeks ago, was reviewed by the agency to ensure it met maximum height limits of 80 feet. It will contain 38 rental units and 17 parking spaces. Separately, a stop work order was issued to developer Hooshang Nemat on May 21 because he lacked a shoring permit, necessary for protecting a building when columns and walls are removed. Construction is expected to resume in the first week of June after a permit is obtained.

Rendering after the jump. (more…)

05/28/13 9:00am

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Jack Pierson Studio, home of the eponymous artist and photographer, has purchased an industrial building at 16-13 Stephens Street in Ridgewood for $1.3 million, according to CoStar. The property was built in 1931 and contains 8,800 square feet. The deal comes out to around $148 per square foot. Jack Pierson was previously at 70 Greenwich Street in Manhattan. Howard Darsi of Kalmon Dolgin represented Jack Pierson in the transaction. Jean Cook of Kalmon Dolgin represented the seller, Stephen Street Realty LLC. Just so we’re clear, this is not East Williamsburg.

Photo: Google Maps

04/11/13 1:00pm

To see all the new listings available, visit QNYC Real Estate.


112-01 Queens Blvd, Forest Hills
2 bedrooms, 2 bathrooms
112-01 Queens Blvd
Renovated Unit W/2 Bdrms, 2 Full Baths, And Balcony To Enjoy Sunrises And Sunsets. Top Of The Line Appliances. Washer/Dryer, Custom Closets & Built-In Cabinetry. Amenities Incl. Fully Equipped Health Club, 60′ Lap Pool, Sundeck. Billiards Room, Game Room, 24 Hr. Concierge And Doorman. Banquet Room. Express E & F Trains 20 Minutes To NYC.
See This Property »


1 bedroom, 1 bathroom
715 square feet
This home is designed and beautifully realized with rich American walnut floors and stylish appointments that are casual and sleek, flexible and functional. Expansive windows invite an abundance of natural light into your home, along with sprawling views of the city, river and skyline from your own Pvt balcony. THE KITCHEN Features like Italian-crafted Pedini cabinetry, stainless steel appliances by Bosch and Fisher & Paykel, Caesar stone countertops and white glass backsplash create a kitchen whose functionality is only surpassed by beauty. The bath’s elegance is best defined by its exquisite appointments: Kohler fixtures, XILO and Lagos Azul tiles, Siberian marble vanity top, Zen soaking tub. THE BUILDING AMENITIES ARE ELEGANT FROM EVERY ANGLE A lobby with ambiance, a concierge with a smile: The entrance of Ten63 is the gateway to a world of warmth, comfort and attention. Think of it as an extension of your living room – a place to welcome friends, chat with neighbors and greet the day. THOUGHTFUL FROM EVERY ANGLE Relax and catch a sunset from atop the private roof deck, work out in our fitness center for enjoy a movie with friends in the screening room—Ten63 features an array of amenities made to match every lifestyle. Additional conveniences are, your own large pvt storage space.
See This Property »


209-45 26th Ave, Bayside
3 bedrooms, 2 bathrooms
209-45 26th Ave
Huge South Facing 3 Bedroom Condo, 1409 Sqft! Hardwood Flr, Updated Kitchen With Granite & Bath. Lots Of Closets. Indoor Garage Parking. Bayside Mews Condominium Is Located Adjacent To Bay Terrace Shopping Center, Express Bus To Manhattan With In Two Blocks. You Can Also Take Advantage Of The Facilities Of Bay Club Including Tennis, Gym, Pool, And Sauna For An Extra Fee.
See This Property »


To see all the new listings available, visit QNYC Real Estate.



04/05/13 1:00pm

Elmhurst, NY
1 bedroom, 1 bathroom
Prime Location! Elmhurst 1 Bed Condo For Rent, Just Steps To E,F,M,R,7 Trains, Buses, Elmhurst Hospital, Supermarket & More
This 664 sq. ft. 1 bed, 1 bath condo in Plaza 75 condominium in Elmhurst features an airy layout, large windows with North East exposure, hardwood flooring through, color screen video intercom system, pre-wired cable and telephone lines, and is Fios ready. The kitchen has stainless steel appliances includes 5 burner gas range.  Located across from the Jackson Hts Roosevelt Ave station you can catch the E,F,M,R and 7 trains, Q33, Q47 buses.
See This Property »



04/04/13 1:00pm

The following is the first real estate sales market report that we have compiled here on QueensNYC. We rank the top 5 neighborhoods based on the volume of searches on QueensNYC  Real Estate.

The top 5 neighborhoods for real estate sales on QueensNYC are…

5. Elmhurst

26-37 94th St, E. Elmhurst, NY


4. Forest Hills

240 Greenway North, Forest Hills, NY


02/20/13 9:30am

Gantry Plaza State Park

Gantry Plaza State Park in Long Island City, Queens

Both the NY Post and the Village Voice have written about a desire among some to change the name of Long Island City to LIC permanently. Apparently, the name “Long Island City” is bad for real estate, hotels, and morale, according to some in the community. Rob MacKay, head of the Queens Economic Development Corp. Tourism Council (and who also lives in Long Island City), says says, “It puts us out on Long Island, and that’s inaccurate – we are urban and hip.”


08/27/12 3:00pm

Image source: 1940s New York

Have you ever heard of Nassau Heights in Queens? Today, it’s known as Middle Village. Did you know that Woodside was once called Woodside-Winfield? Welcome to 1940s New York, when the Queensbridge Houses were a new development, and Astoria was a predominately Italian and German neighborhood (the Greek population didn’t peak until the 1970s). (more…)