News:
Spotlight Content
Posted: December 20, 2016
2016 Year in Review: Jeffrey Schwartzberg, Premier Commercial Real Estate, LLC
Jeff Schwartzberg, Premier Commercial Real EstateName & Title: Jeffrey Schwartzberg
Company Name: Premier Commercial Real Estate, LLC
What was your most notable project, deal, transaction or professional achievement in 2016?
Although we are generally known as Long Island’s commercial R/E market experts, this years’ most notable project was the sale of a land parcel in Lower Manhattan. Premier Commercial Real Estate served as the procuring Broker of record and the purchase price was just under $22M. This former TriBeca parking lot property is about to be re-developed into a high end, mixed use residential/retail structure and we are proud to have participated in this unique project
What project, transaction, market trend or product had the greatest impact on your industry this year?
The Brooklyn/Queens Explosion!
How will you be supercharging your productivity in 2017?
We are planning to move into larger quarters and, very selectively, add a few “Commercial Real Estate Market Experts” to handle the strong demand for quality industrial products and local market expertise.
Also, as interest rates are slated to rise in the upcoming year, we will educate our ‘investment and user” customers on the direct impact on property values.
What emerging trends will drive investment and development in 2017?
The industrial market is strong and continues to strengthen. The previous trend to convert industrial buildings to office buildings is over for the time being. In fact, we are beginning to experience office buildings converting back to industrial buildings, albeit with high ceilings and more functionality. We believe this trend will continue, as the demand for high cube distribution centers continues to rise and buildings that can satisfy those needs are in very short supply.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
.jpg)
Columns and Thought Leadership
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
.gif)