News: Spotlight Content
Posted: December 20, 2016

2016 Year in Review: Fred Berk, Friedman LLP

Fred Berk, Friedman LLP Fred Berk, Friedman LLP

Name & Title: Fred Berk, Co-Chair of the Real Estate Group

Company Name: Friedman LLP

What was your most notable project, deal, transaction or professional achievement in 2016?

In light of the Trump presidency, tax law is uncertain.  No one knows for sure what Trump will ultimately be able to accomplish. Although he has made general comments, the devil is in the details.

What project, transaction, market trend or product had the greatest impact on your industry this year?

There is continued uncertainty around the extension of the 421a exemption program, which expired in January. 421a provided a tax abatement to developers who created a certain percentage of affordable units in new buildings.  Negotiations continue between REBNY, Cuomo, developers, and the unions. No new agreement has been reached, although it’s been reported that the parties involved have been close to an agreement several times.  This has a huge impact on development. With the high price of land and construction in NYC,  it’s often too expensive to build without a tax abatement program.

Tags: Spotlight Content
Print
Share
Reprint
Previous Story Next Story
READ ON THE GO
DIGITAL EDITIONS
Browse Now
Subscribe
Quick Hits
Global Holdings completes $30 million capital improvement program of 99 Park Avenue
Columns and Thought Leadership
2026 Developing Queens: Long Island Board of Realtors advances commercial growth and advocacy in Queens

2026 Developing Queens: Long Island Board of Realtors advances commercial growth and advocacy in Queens

The Long Island Board of Realtors (LIBOR) Commercial Network continues to play a key role in advancing opportunities and strengthening the commercial real estate landscape across Queens. Through targeted programming and global outreach
From vacancy to vitality: How adaptive reuse is reshaping Long Island’s CRE landscape - by Andrea Tsoukalas Curto

From vacancy to vitality: How adaptive reuse is reshaping Long Island’s CRE landscape - by Andrea Tsoukalas Curto

Adaptive reuse has become one of the most important conversations in commercial real estate today. Long Island has a large inventory of aging retail, office and industrial
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
CRE Guide Featured Company: Merritt Environmental Consulting Corp.

CRE Guide Featured Company: Merritt Environmental Consulting Corp.

Merritt Environmental Consulting Corp. (MECC) was established in June of 2009 after being part of a larger engineering firm for almost 20 years. The focus of the company is to assist lending institutions, attorneys, real estate investors, and property owners with environmental concerns. Today, MECC has offices in New York, Florida, and Vermont and has grown into a regional consulting firm serving clients along the East Coast.