News:
Brokerage
Posted: September 4, 2015
Calamar Construction awarded $5 million Best Western Plus project; 61-room, three-story hotel comprised of 44,000 s/f
Calamar, a full-service real estate organization comprised of construction, development, property management, asset management and finance & investment divisions has been awarded a hotel contract for their hospitality division
The Best Western Plus is the latest flagship hotel to be awarded to Calamar. This is the third project that Calamar has been awarded and began construction on in the last three months. Construction is just underway with completion expected by May 2016. The Best Western Plus in Hammondsport offers well appointed and modern rooms in a 61-room, three-story hotel comprised of 44,000 s/f representing a $5 million contract. Ted Douvlos is the project manager for Calamar Construction.
"Calamar is delighted to have been awarded the construction contract for The Best Western Plus," said John Cleary, VP for the hospitality division. "We take great pride in the knowledge and experience we bring and look forward to implementing our expertise into the exceptional standards the Best Western Plus is known for."
Tags:
Brokerage
MORE FROM Brokerage
SoHo emerges as America’s most active trophy retail market as investors prioritize quality, Adirondack Capital Partners finds
Manhattan, NY Investors are increasingly concentrating capital in the country’s most coveted retail corridors, with SoHo emerging as the nation’s most active trophy retail market,
Quick Hits
Columns and Thought Leadership
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
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
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
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
