Real Estate News

Casandra Properties Makes History Again

It is a pleasure to announce that we have brokered a $41 million deal in Staten Island, New York- one of the largest investment-sales deals in the borough’s history.

Managing director, James Prendamano, led a team of three listing agents, Brian McGowan, Celia Iervasi and Robert Nixon, in this groundbreaking achievement.

South Shore Commons is a 140,000 square-foot retail center located at 2955 Veterans Road West. This spacious property is built of 6 buildings and 34 stores and sits at the tail of the Outer Bridge Crossing.

We are excited to continue our relationship with the purchasing developers, Murray and Dave Berman, to “optimize the center’s performance and tenant mix in the years to come,” as Mr. Prendamano mentioned in yesterday’s The…

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The Real Deal – CP works on SI’s most visible projects

This month The Real Deal ran a story about how the work Casandra Properties has done over the years is shaping the way people view Staten Island. High profile projects such as Empire Outlets and Urby Staten Island are attracting positive attention from developers, investors and visitors who have never been to Staten Island.

The article provides historical context about how Casandra Zappala launched the company as a boutique firm in 1989 when commercial real estate was “a man’s world”. But because she knew Staten Island well, she soon found success in attracting national retailers to the Island. As she says, ““They knew I knew what I was doing.  It was that simple.”

James Prendamano,  Managing Director of the firm explained why national retailers…

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Why Millennials Will Breathe New Life into Mom and Pop Stores

By Brian McGowan

We prefer bikes to cars. We prefer vertical living to single family homes with sprawling lawns. We use the internet to compare pricing but prefer to touch and feel the item before they purchase it. We prefer authenticity to mass production – and – we want to know that the person they are spending their money with cares about their community, the environment and humanity as a whole. We are millennials and we are the largest, living generation on planet Earth.

Standard & Poor’s U.S. chief economist, Ann Bovino notes that there are 80 million millennials spending $600 billion dollars annually. In just three years, millennials will average $1.4 trillion in spending accounting for 30% of total retail sales.

So, how will this…

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Celebrating Staten Island’s Diverse Population

By Brian McGowan

Staten Island is New York City’s smallest borough and often the focus of urban jokes. Due to its history as a farm community and vacation hot spot for New York City’s super wealthy, residents were presumed “unsophisticated”, “clannish” and “insulated” from the culture and diversity of the greater metropolis.

Anyone who still holds that opinion of Staten Island hasn’t taken a look lately.

Staten Island is home to nearly 500,000 people, 53% of which over the age of 24 have a college education. Staten Island boasts one of the highest median family incomes in New York City at $117,068 and we generate $1.2 billion dollars annually in unmet retail demand.

With respect to diversity, Staten Island’s population has changed rapidly…

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Unique Retail and Urby Staten Island Go Together

If you haven’t had an opportunity to visit Urby Staten Island, the 900 unit mixed use development by Ironstate headed by David Barry, I suggest you get there soon because leases are quickly being signed – and with good reason.  From an urban farm and farmer in residence who grows vegetables enriched by compost from household food scraps, to the communal kitchen where the chef in residence prepares meals for tenants using those vegetables, Urby Staten Island is a one of a kind residential experience designed to make life easier for the young Millennials it is attracting.

Ironstate Development Company was the genius behind Pier Village in Long Branch, New Jersey – a successful mix of unique street level retail with apartments above in an area which was…

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Casandra Properties represents buyer and seller in $20 Million sale of The View

The Real Deal reported that Benjamin Rusi purchased The View Luxury Apartments for $20 million.  The building is located at 224 Richmond Terrace, St. George, Staten Island. The property provides unobstructed panoramic views of the New York Harbor and Manhattan skyline. It is located just steps away from the New York Wheel and within walking distance of the Richmond County Bank Ballpark (home of the Staten Island Yankees) Empire Outlets, St. George Ferry Terminal and Lighthouse Point.

The building is 11 stories (58,792 sf) containing 40 residential units and 3 commercial units.  The 16 one bedroom and 24 two bedroom units each contain a gourmet kitchen with stainless steel appliances, hardwood floors, in-unit dishwasher, washer dryers and a private…

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Casandra Properties represents buyer and seller in $20 Million sale of The View

The Real Deal reported that Benjamin Rusi purchased The View Luxury Apartments for $20 million.  The building is located at 224 Richmond Terrace, St. George, Staten Island. The property provides unobstructed panoramic views of the New York Harbor and Manhattan skyline. It is located just steps away from the New York Wheel and within walking distance of the Richmond County Bank Ballpark (home of the…

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Wall Street Journal – Staten Island’s North Shore is becoming a magnet for real estate activity

Staten Island’s North Shore has gained world-wide notoriety thanks to several large scale projects on track for completion in the coming years.

The construction of Empire Outlets, The New York Wheel, Lighthouse Point and Urby Staten Island – all with easy access to the free Staten Island Ferry – have caused a buzz that has been heard by investors beyond Staten Island’s shores.

Local real estate…

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Winter Wonderland Staten Island is a magical experience for visitors of all ages

On Saturday, November 25, 2017 the Richmond County Bank Ballpark in St. George, Staten Island threw open its gates to reveal that it had been transformed into “Winter Wonderland Staten Island” – an 85,000 sf magical holiday experience to delight visitors from around the world.

The event is the brain child of Roger Marin who succeeded in creating a “fully immersive” holiday experience that includes…

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Crain’s New York Business story on Empire Outlets

Last month, Crain’s New York Business wrote an article about Empire Outlets titled, “City’s first outlet mall holds promise”.  The article speaks to the fact that Empire Outlets could make St. George a destination by luring shoppers away from their computers.

James Prendamano, Managing Director for Casandra Properties, has served as consultant and exclusive leasing agent for Empire Outlets since…

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