News:
Spotlight Content
Posted: December 31, 2019
2019 Year in Review: David Marciano, Westbridge Realty Group
Name: David Marciano 
Company: Westbridge Realty Group
What are your predictions for commercial real estate in 2020?
After the initial scare of the new rent regulations that overtook everyone with fear in June 2019, people are slowly coming back to life, and capitalizing on the remaining opportunities. I see multifamily prices coming down and cap rates rising at least 1-2 points while development prices will remain the same. 2019 has represented a breakout year for industrial properties and I believe the same trend will remain or even rise in 2020. Many big-box retailers have opened fulfilment centers in NYC and other companies are following suit. After all, New York City is the center of the real estate world, and there will always be deals to be made.
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)
.gif)
.jpg)
Columns and Thought Leadership
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
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
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
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”.
.gif)