Engagements of Note

Governor’s Island Proposed $700 Million Climate Change Research Center

2023

Rosin & Associates was engaged by the Trust for Governor’s Island to determine the Fair Market Rental Value of the Ground Lease for the 172-acre site of the new $700 Million climate change research center anchored by Stony Brook University. R & A employed innovative valuation methodology to determine the rental value of such an unprecedented project, especially given that the facility will be constructed of entirely sustainable materials.

Read more about the project here: https://www.pbs.org/wnet/peril-and-promise/2023/06/stony-brook-university-to-build-climate-campus-on-governors-island/

Redevelopment of Hunts Point Terminal Produce Market

2022

Rosin & Associates was engaged by the New York Economic Development Corporation (“NYCEDC”) to determine the Fair Market Rental Value of the 103-acre site home to the Hunts Point Terminal Produce Market, a major distribution center for fruits and produce throughout the area that supplies approximately 25% of New York City’s produce. The terminal is set to undergo a $650 Million modernization. R & A was depended on to provide a reliable rental value through rigorous industry research and market knowledge. 

Read more about the project here: https://www.bxtimes.com/state-modernization-hunts-point-produce-market/

NYCHA’s Harborview Terrace Transferrable Development Rights

2021

Rosin & Associates was engaged by New York City Housing Authority (“NYCHA”) for the market valuation of the sale of 89,000± ZSF of transferable development rights (“TDR”), as well as a light and air easement. The appraisal assumed that the TDRs would be transferred from and easement granted by Harborview Terrace in Manhattan to an adjacent Development Site (BBL 1/1083/10) to facilitate the development of a 170,571 square-foot mixed-use development.

Read more about the project here: https://newjersey.news12.com/new-yorkers-push-for-construction-of-affordable-housing-near-nychas-harborview-terrace

Bush Terminal Soundstage Studio Production Facilities

2020

Rosin & Associates was hired to analyze the fair market rental value of a ±48,000 SF lot located at Bush Terminal Park under two separate hypothetical scenarios. The first scenario was valued as a standard industrial building as per highest and best use zoning regulations, the second scenario was valued with a use-restriction as a Film/Media production facility with a Level 2 QPF soundstage complex.

Read more about the project here: https://edc.nyc/leasing-opportunities/made-in-ny-campus-bush-terminal

Brooklyn Navy Yard 4.3 Million Square Foot Rent Schedule Across 53 Buildings

2019

Rosin & Associates was hired by the Brooklyn Navy Yard Development Corporation to perform a Market Rent Study to develop a rent schedule for entire property for various classes of Space including Grade Level and Upper Level Industrial; and Office Space and determine impact of use restrictions on Market Rates and Rental Rates. The property consists of over 4.3-million square feet across 53 buildings. The assignment was related to the Navy Yard’s $1 Billion Expansion. 

Read more about the project here: https://www.bizjournals.com/newyork/news/2019/08/08/brooklyn-navy-yard-aims-to-double-job-total.html

Bathgate Industrial Park Leasehold Interest for New York City Economic Development Corporation

2018

Rosin & Associates valued the leasehold interest of Port Authority of New York of the Bathgate Industrial Park, an industrial warehouse and manufacturing park with 8 buildings located in the Bronx, New York.  The buildings are located on seven tax lots totaling ±616,089 sq. ft. primarily on Bathgate Avenue in the Claremont/Morrisania area of the Bronx.

Trusted Third-Party Underwriter of 40 CMBS Loans

2016-2017

Rosin & Associates performed the necessary due diligence and underwrote 40 CMBS loans with asset types including office, multifamily, retail and hospitality for clients such as Ladder Capital, Rialto Capital, Benefit Street Partners and bridge loans for UBS.

NJHMFA Affordable Housing

2016

The firm has appraised more than forty affordable housing projects across New Jersey for the New Jersey Housing and Mortgage Finance Agency (NJHMFA), primarily consisting of ground up construction and substantial rehabilitation of projects financed utilizing Low-Income Housing Tax Credits (LIHTC) and made feasible through employing Payment in Lieu of Taxes (PILOT) agreements. R&A continues to be active in the valuation of LIHTC projects to this day.

Cordillera Concerted Care Group Business and Real Estate Valuation

2016-2017

R & A performed a business and real estate valuation for Concerted Care Group for the acquisition of an existing hotel and spa located just outside of Vail, Colorado for an adaptive re-use as a healthcare and addiction rehab facility.

Mark to Market Valuation of Portfolio of Nine Properties for Thor Equities, One of New York’s Largest Real Estate Investment Groups

2014-2016

R & A performed the valuation of a portfolio of nine properties ranging from $3.8 million to $378 million, totaling $1.1 billion.  This was done to determine the increased value of the properties and used as a basis for future investment projects.

New York City Housing Authority Infill Portfolio

2013  

On behalf of NYCHA, R& A determined the appropriate ground lease rates for 14 city owned housing sites.  In a strategic plan to raise funds to bridge the gap between the funds requirement for tenant needs and the government allocated funding, NYCHA plans to ground lease desirable sites for market rate development in its housing projects.

Pipeline Easements

2012

F & A Advised a City agency involved in the negotiation of an easement for a sewer pipeline.  This appraisal involved the valuation of several technical easement issues including permanent right-of-way, temporary right-of-way, and revocable consent.  R & A was able to successfully establish several pricing guidelines for the purposes of the easement transactions, which involved several parcels and “taking areas”. 

Stuyvesant Town & Peter Cooper Village Litigation Support

2010

Rosin & Associates was engaged in the largest real estate Bankruptcy in U.S. History. R & A valued collateral comprised of ±11,300 apartments in Stuyvesant Town and Peter Cooper Village in support of litigation related to the mortgage foreclosure. Pershing Square Capital had acquired the $300 million senior portion of the Mezzanine Debt and was attempting to gain control of the first mortgage serviced by CW Capital.