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.
Manhattan, NY AmTrustRE has completed the $211 million acquisition of 260 Madison Ave., a 22-story, 570,000 s/f office building. AmTrustRE was self-represented in the purchase. Darcy Stacom and William Herring
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account