News: Brokerage

Blumenfeld Development Group and Brookfield Properties light East River Plaza blue to thank healthcare heroes

Manhattan, NY East River Plaza, a Blumenfeld Development Group and Brookfield Properties property located in East Harlem, was one of 150+ buildings across the nation who participated in the “Light It Blue” initiative to thank healthcare professionals who are working around the clock to treat patients amid the COVID-19 pandemic.

The “Light It Blue” campaign is one of many tributes happening globally designed to boost spirits and promote togetherness and positivity.

To stand in solidarity with the men and women working in hospitals, East River Plaza will remain lit blue throughout the COVID-19 pandemic. The building serves as a beacon of hope, honoring the Harlem, NYC, and global healthcare community.  

“We are humbled and honored to take part in this grand gesture of gratitude and thanks. It’s a simple way to show our support to those on the frontlines and we especially want to thank our neighborhood heroes who are doing everything they can to keep our community safe during this time,” said Ed Blumenfeld, president, Blumenfeld Development Group. 

MORE FROM Brokerage

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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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.
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
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,

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