News: Brokerage

Bent of Charter represents buyer in $3.775m sale of 42,000 s/f office building

The class A four-story office building 90 Air Park is located directly across the Rochester International Airport. The building is 100% leased and contains a helicopter pad and hanger space. The building faces the main runway and the airport terminal. Richard Chiarenza, president and owner of Frontier Management of New York, Inc. is the buyer of the Air Park office building. Chiarenza wanted a corporate presence for his growing property management firm that owns and manages fifteen apartment communities, which represents 1,200 units in the greater Rochester area. Moving his corporate headquarters to Air Park is central to Chiarenza's plans for future expansion and acquisitions. Jack Bent of the CHARTER Brokerage division of The Cabot Group, served exclusively as Chiarenza's buyer agent for site selection and negotiations. Tom Lockwood of Keller Williams-K W Commercial represented the seller, Norcross Aviation.
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Columns and Thought Leadership
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
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.
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
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,