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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Columns and Thought Leadership
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
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