News: Brokerage

Atlas Contractors and Rochester Cornerstone team together to construct home

Atlas Contractors, LLC and Rochester Cornerstone Group, Ltd. have teamed together to construct a single-family house for a low-income family utilizing youth enrolled in the Urban League's YouthBuild Rochester program. The house is located on Broad St. adjacent to Sahlen's Stadium. Construction is slated to commence this month. The home will contain three bedrooms and total 1,200 s/f. YouthBuild Rochester, an Urban League of Rochester program for out-of-school youth ages 18-24, and its students will be on site for different stages of construction from excavation to masonry and carpentry, electric, plumbing and others. This hands-on experience will provide enlightenment to the many opportunities in real estate construction. This construction effort on Broad St. is located in the area where Charles Settlement House and Rochester's Cornerstone Group are developing 45 single-family rental homes for income eligible families. 17 of the 45 Stadium Estates homes have been completed. The project will be completed at the end of the year. YouthBuild Rochester Director Mubarak Bashir said that "this is a great opportunity for our students to not only enhance their skills that they have received while in our program, but also to give back to the community. We are truly grateful to Atlas Contractors, Rochester's Cornerstone Group, and all of the other companies that came together to make this possible." Organizations participating through contributions of in-kind services include SWBR Architects, Stantec, Davidson Fink, LLP and 84 Lumber. The Urban League of Rochester YouthBuild program collaborates with Monroe Community College and Flower City Habitat for Humanity. The YouthBuild Rochester program provides construction training, high school equivalency classes, leadership development training, job preparation, and placements to out-of-school youth ages 18-24. Participants receive stipends while participating in the program, and those who complete the 144-hour occupational training earn the National Association of Home Builders' Pre-Apprenticeship Certification Training (PACT) Certificate. The PACT certificate would enable participants to enter entry level construction jobs and apprenticeships. They also gain hands-on experience building homes with Habitat for Humanity, Urban League of Rochester's Economic Development Corporation and the Greater Rochester Housing Partnership.
MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced