News:
Spotlight Content
Posted: November 26, 2024
2024 Ones to Watch - Innovators in CRE: Brian Kennedy, Forchelli Deegan Terrana LLP
Partner
Forchelli Deegan Terrana LLP
Brian Kennedy is a partner in the firm’s Land Use & Zoning practice group for the last six years. In his practice, Kennedy guides clients through the complex municipal approvals required for all development projects. Kennedy’s experience ranges from single family residential redevelopments through large-scale mixed-use and industrial developments. His practice centers on projects in Suffolk County – and fortunate to work on projects throughout Long Island.
Innovative Solution: Municipal approvals are a critical part of any development project. To ensure a project remains financially viable, clients must expedite the entire approval process. This begins with assembling a top-notch team of attorneys and project consultants who are intelligent, experienced and most importantly, responsive. The local, state, and federal approvals required to entitle commercial projects on Long Island have become increasingly more complex. I’ve been fortunate to work alongside the finest real estate development attorneys, engineers, and architects during my career. Each team member must remain up date with current regulations and be responsive to both clients and municipalities to avoid unnecessary and costly delays.
Innovative Outlook: The most glaring opportunity for innovation on Long Island is the expansion of sewer systems throughout Suffolk County. While this may not be a new initiative, sewers are critical to smart growth and the protection of the Long Island aquifer. The expansion of sewer systems has been a topic of discussion for decades, but there is now bipartisan support for sewer expansion throughout Suffolk County. Installation and expansion of sewers will allow Suffolk to protect its greatest natural resource, while meeting the needs of a diverse community.
“Brian W. Kennedy led the redevelopment of the former New York Institute of Technology Campus in Central Islip. The vacant college campus is undergoing a transformation into a state-of-the-art mixed-use development. This project will provide nearly 700 apartments, 81 condominiums and nearly 120,000 s/f of retail and office space. This project has maintained the historic character of the existing buildings, while bringing the community a modern, walkable development.” - John Terrana, Forchelli Deegan Terrana LLP.
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
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”.
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)