LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NEW ROCHELLE—Houlihan Lawrence Commercial, a division of Houlihan Lawrence, announced on Aug. 21 it had brokered a 12,600-square-foot office lease with New State Capital Partners at 270 North Ave. in New Rochelle.
The tenant, New State Capital Partners, a private investment firm, is relocating its corporate headquarters from 2001 Palmer Ave. in Larchmont to New Rochelle. The tenant needed to more than double the size of their current space. The space came fully-furnished and move-in ready. The building includes parking and is located directly across from the Metro-North train station, Houlihan Commercial officials stated.
According to its website, New State Capital also has offices in Boston, the Miami/Tampa area and in the Los Angeles/Orange County, CA region.
The landlord was represented by Mike Rackenberg, Associate Broker, with Houlihan Lawrence Commercial and the tenant was represented in the transaction by Andy Grossman, Associate Broker, also with Houlihan Lawrence Commercial.
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