News:
Spotlight Content
Posted: December 31, 2024
2024 Year in Review: Briggs Elwell, RLTYco
Co-Founder & CEO
RLTYco
What noteworthy transactions or deals from this year best exemplified key market trends or shifts?
I would say the most unique trend and shift that continues to be a hot debate topic, is return to office. In major city markets such as New York we are almost back to pre-pandemic office occupancy numbers. This data does not take into account hybrid scenarios, but the fact is the majority of work-from-home in New York have come back to the city to work in offices at least multiple days a week. I believe we will continue to see this trend as companies work to return to more traditional in-person environments.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024?
In 2024, RLTY secured its largest investment to date with a Series A round. We’ve grown the business very methodically since inception, we are pleased to announce this milestone that will permit us to scale the business nationally. RLTYco prides itself on assisting 1099’s in real estate with all of their financial, service and benefits needs.
What emerging trends will drive investment and development in 2025?
Private credit is expanding at a significant pace and will be a key tool for current developers to grow and for new developers to get into the business. Historically development was funded by banks. The growing private credit sector in development really opens a lot of doors for unique projects and new developers to get into the space.
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
.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”.
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
.gif)