News: Brokerage

Roe Developments' Star Tower is 50% sold

According to Roe Development Corp., more than 50% of the residences have been sold at The Star Tower, one of Long Island City's tallest residential condominiums, in just four months. When completed in winter 2009, the glass tower will rise 25 stories and will offer residents views of the Manhattan skyline. Located at 28-02 42nd Rd., The Star Tower will contain 180 one and two-bedroom residences ranging from 617 s/f to 1,213 s/f. Roe Development Corp. is a Manhattan-based real estate owner, developer, construction and investment company with more than 30 years of experience in the ownership, development, sales, management, leasing, and financing of residential and commercial properties throughout New York City.  Following its success with Fusion Condominium in Long Island City, the company is currently developing its newest luxury condominium project, The Star Tower, and plans to develop additional condominium and townhome projects around the New York metropolitan area.
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NYSCAR June 2026 president’s message - by Mercedes Brien

As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
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The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.