News:
Spotlight Content
Posted: December 20, 2016
2016 Year in Review: Leah Carr, Margules Properties, Inc.
Leah Carr, Margules Properties, Inc.Name & Title: Leah Carr, Management Director
Company Name: Margules Properties, Inc.
What was your most notable project, deal, transaction or professional achievement in 2016?
Margules Properties added to our portfolio a six-story residential property with 60-units in the Woodhaven section of Queens and another 9,500 s/f retail/commercial property in the Journal Square section of Jersey City, a block away from the PATH Station. The Journal Square property is a triangle shaped building, surrounded by three major streets and offers large street frontage providing significant retail exposure.
What project, transaction, market trend or product had the greatest impact on your industry this year?
The continued residential and commercial development of the Journal Square area in Jersey City has had the greatest impact on our portfolio this year. We continue to offer reasonably priced, quality housing stock, close to the PATH and within easy commute to downtown Jersey City and Manhattan.
How will you be supercharging your productivity in 2017?
This year, Margules Properties has attracted increased interest from large investors due to our deep track record of success. We look forward to taking on a greater role in the redevelopment of the Journal Square neighborhood in Jersey City where we now control over one million square feet of buildable rights and other emerging neighborhoods in the metro area. We are looking to buy more properties and also increase the firm’s holdings in Manhattan, Queens and Brooklyn where we own more than 70 buildings.
What emerging trends will drive investment and development in 2017?
As the outer boroughs of NYC and Jersey City, the “sixth borough,” begin to take center stage as emerging and more affordable options, we expect to see an increasing sophistication from residents, retail stores, realtors and investors. We at Margules Properties expect much more interest in properties in those areas in the coming year.
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)
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
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
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
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”.
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
.gif)