News: Brokerage

DeMet's Candy to invest $13m 100,000 s/f facility

DeMet's Candy Co. broke ground on a candy processing plant in the Airport Corporate Park. The company is building a new home for its Turtles brand candy that the company acquired from Nestlés in July 2007. The 100,000 s/f manufacturing facility is being built on a 17-acre parcel in the park developed by the Chemung County IDA in 1996. DeMet's is investing $13 million in the facility and equipment. The company has committed to creating a minimum of 100 new manufacturing jobs, in return for considerable financial assistance secured by STEG, including a $500,000 grant from Empire State Development, a $732,000 grant secured through the NYS Office of Community Renewal to assist with machinery purchase, $250,000 grant secured by senator George Winner via the Community Capital Access Program, and a $45,000 grant was secured by assemblyman Tom O'Mara to help offset the costs of constructing a public road to the facility.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
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,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
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
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