2022 Year in Review: Kevin Clyne, Herman Katz Cangemi Wilkes & Clyne LLP

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022?

Property tax can be an existential issue in New York under the best circumstances. The hospitality, retail and the New York City office sectors experienced particularly acute circumstances in 2020 and 2021 that demanded property tax relief in 2022. My firm has had great success over this period crafting property tax settlements with municipalities facing their own challenges. This required both litigation related preparedness and pragmatism in equal measure. It has been very rewarding to help our clients through this period.

What emerging trends will drive investment and development in 2023?

Post COVID, the only certainty in real estate is change.  For example, billions are being invested to convert office space and suburban malls to apartments at the same time interest rates are exploding.  In the real estate tax world, my firm will continue to ensure that assessors value property using current market realities, and not last year’s trends.