Wade Johnson is the president at R. Wade Johnson, Melville, N.Y.
What was one of your corporate or career highlights of the decade?
Most memorable moment of the decade for me would be the grand opening of the newly designed and renovated Royalton Hotel, and our subsequent finalist award from HR magazine in the luxury hotel category.
What are your predictions for commercial real estate in the new decade?
I believe that the one of the upcoming changes on the real estate horizon will be that the big box stores will not survive and that these properties will be repurposed.
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but