News: Brokerage

Billone of Flower City speaks about "Going Green in Real Estate"

On August 21st, John Billone of Flower City Management addressed the chapter 58 membership on his personal experiences in utilizing green technology in the renovation of the Medical Arts Building. The building is only one of three buildings in the city that is in the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) program of the U.S. Department of Energy. The entire building infrastructure has been fitted with geo-thermal heat pumps that use the ambient temperature of the ground 240' below the surface to both heat and cool the building. A closedloop system of pipes carries the heated and/or cooled water throughout the network of shops, offices and apartments. This innovative system gives tenants their own thermostat and the ultimate in zone heating and cooling that's 75% more efficient than the most efficient gas furnaces and 40% greater efficiency than modern oil furnaces. 20% of the roof surface features a green roof, designed to naturally cool the building roof in summer and insulate it during the winter. The plantings on the roof create an urban garden alive with color and fragrance all summer long.
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NYSCAR June 2026 president’s message - by Mercedes Brien

As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
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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
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.
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,