News:
Spotlight Content
Posted: December 26, 2023
2023 Year in Review: Sarah Berman,
The Berman Group
President
The Berman Group
What person, project, transaction, or market trend had the greatest impact on your industry this year? The shift in positioning for commercial office space to hospitality offerings and amenities for tenants has been a pivotal shift in the marketing of commercial real estate. Our firm has worked closely with the largest commercial office owners in the world to reposition, develop amenities and create hospitality brands to serve the changing needs of modern office tenants.
What emerging trends will drive investment and development in 2024? The Berman Group has a number of high-profile clients building and developing multi-family and mixed-use projects throughout the country, and in the Sun Belt, at a rapid rate including Waypoint Residential, Howard Hughes Corp., Post Brothers, RXR, Brandywine Realty Trust. We expect this to continue in 2024 as the demand for housing continues to be strong, especially in warmer climates and in transit-oriented development markets.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? The Berman Group was tapped by Governor Hochul to run New York’s largest MWBE Forum in history, an event to bring together minority suppliers with the State’s major agencies and business leaders. The Berman Group was also awarded a major project by New York City Economic Development Corp. which will involve two high-profile Brooklyn waterfront developments and we are repositioning a midtown property for Tishman Speyer.
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
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
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)