News: Brokerage

Erie Canal Harbor Dev. takes ownership of Gen. Donovan State Office Bldg.

The Erie Canal Harbor Development Corp. recently took over the now-vacant Gen. Donovan State Office Building along the lower end of Main St. By taking ownership of the 148,000 s/f, eight-story building, asbestos remediation and, then, demolition can begin. The building could be demolished within the next 12 months. "This is another step in the re-building of our waterfront and the realization of the dream that will become Canal Side," said Jordan Levy, harbor development corporation chairman. The Donovan building along with its across-the-street neighbor, long-vacant Memorial Auditorium, are slated to be demolished to make way for Canal Side's anchor tenant, a 150,000 s/f Bass Pro Outdoor World store. Bass Pro is slated for the Aud while Benderson Development Co. is working with other related tenants for the Donovan site.
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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.
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Columns and Thought Leadership
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.
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
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.
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