News: Brokerage

Fitzmaurice of Seneca One speaks at One HSBC Center Greater Buffalo BOMA roof top tour

Sixty Greater Buffalo BOMA members took in the view from the rooftop of One HSBC Center. Stephen Fitzmaurice, RPA, Seneca One Realty LLC COO, spoke about the history and construction of the building, and answered questions during a pre-tour luncheon. One HSBC Center is owned and managed by Seneca One Realty LLC. One HSBC Center is formerly known as the Marine Midland Center. Its name was changed when Marine Midland's parent company HSBC re-branded the bank as HSBC Bank USA. It was constructed at a cost of $50 million between 1969 and 1972, and contains over 1.2 million s/f. Today, the 40-story office tower dominates the skyline, at 529 ft. high. Greater Buffalo BOMA members also enjoyed dinner and casual conversation during the July 16 Bisons Baseball Outing at Coca-Cola Field. BOMA members and friends gathered on the Heron's Landing Party Deck to watch the Buffalo Bisons take on the Toledo Mud Hens., despite the Bisons' unfortunate 6-2 loss. Upcoming events for Greater Buffalo BOMA include the following: * Monday, August 24: Annual Golf Outing at the Arrowhead Golf Club, Akron with a 10:30 a.m. shotgun start. A portion of the proceeds to benefit Upstate New York Transplant Services. * Monday, October 5: Prosperity Buffalo Vendor Fair at the Adams Mark Buffalo from 11 a.m. - 3 p.m. To register or for details: contact Jennifer Aiple at (716) 856-3801 or [email protected].
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SABRE coordinates sale of six properties totaling 199,845 s/f

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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
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.