News:
Spotlight Content
Posted: December 22, 2014
Alexis Newman, Simpson Gumpertz & Heger (SGH)
What was the best thing that happened to you or your firm in 2014?
The opening of our Chicago office in March of this year was an exciting moment in our firm's evolution. SGH is continuing a long, steady period of growth. Since 2000, the firm has tripled in size to over 475 employees and has opened four additional full-service offices in New York City, Washington D.C., Southern California, and now in Chicago. SGH opened in Boston in 1956 and expanded to San Francisco in 1975. Since its opening in 2005, our New York office has grown to over 35 employees, and we look forward to celebrating the office's 10th anniversary with a client appreciation event planned for 04.29.2015.
What was your most notable project, deal, transaction or personal achievement in 2014?
One of our most notable New York projects this year is at 706 Madison Ave. in Manhattan, where we are the structural engineer of record for a new five-story building that will wrap around an existing three-story New York City Landmarked building. Both buildings will be combined into one large flagship retail building. The design is completed and construction is expected to start in early 2015. We worked with Page Ayres Cowley Architects for the developer of the site, Friedland Properties.
What are you looking forward to accomplishing in 2015?
In my new position as Senior Corporate Marketing Specialist, I will be dedicated to planning, promoting, and facilitating SGH seminars and events across all office locations, and I look forward to helping increase our firm's brand recognition across the United States.
What are some of your real estate predictions for 2015?
As the economy continues to improve, our principals predict that owners and developers will take advantage of low interest rates to finance new construction throughout N.Y.C. The luxury residential work will cool off a bit, but new multifamily residential developments will heat up. Adaptive reuse and renovations of existing buildings will remain strong in all market sectors. New office construction will slow as the World Trade Center and Hudson Yards come online.
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
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”.
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
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
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
.gif)