News: Brokerage

Court rules in favor of Hiscock & Barclay's client, Superfund Coalition

The State Supreme Court in Sullivan County has ruled in favor of the New York Superfund Coalition, Inc. against the State Department of Environment Conservation (DEC), in an important decision that defines the cleanup goal of State Superfund sites as well as how the state should determine responsibility for those clean-ups. The Superfund Coalition was represented by Hiscock & Barclay, whose team included Thomas Walsh, Amy Kendall and Danielle Mettler. State supreme court justice Robert Sackett ruled that clean-ups under the State Superfund Program need to attain conditions protective of human health and the environment by eliminating the "significant threats," the goal for which the Superfund Coalition had argued, and do not have to go farther to remove every last molecule of the contaminant. The State DEC had sought to interpret the statute as requiring the remediation of sites to the pristine, "pre-disposal" condition they were in before contamination. The court noted that the pre-disposal standard only applied to sites created by recent illegal hazardous waste disposal. The state's authority in determining parties responsible for these clean-ups was limited to state law. The judge ruled that the state DEC's effort to automatically apply federal law to determine liability on a wholesale basis was not justified.
MORE FROM Brokerage

SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

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.
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

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.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

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