News: Brokerage

Gardner, Poretsky and Sykes join Studley

Studley has tapped three of Cassidy Turley's senior New York City brokers: Patrick Gardner, Howard Poretsky and Richard Sykes. Gardner and Poretsky, senior managing directors, are located in Studley's Midtown office, while Sykes, principal, is located in the London office.The team has specialized in representing international banks, law firms, nonprofits and media companies. "We are thrilled to have such an accomplished brokerage team join our firm," said Studley chairman and CEO Mitchell Steir. "Their long experience working together and their expertise in all aspects of cross-border collaboration make them uniquely qualified to work in New York and internationally." Gardner and Sykes have worked together for more than 25 years, both working as high-level executives for leading brokerage firms, as well as owning their own brokerage business. Poretsky joined their team at Cassidy Turley in 2008. Collectively, the three have closed transactions totaling more than five million s/f for leading organizations some of which include: British Petroleum, Community Preservation Corp., imc2, Kissinger Association and National Corporate Research. Their most notable transactions include acquiring a 150,000 s/f freehold office condominium at 198 Madison Ave. for Oxford University Press; consolidating a one million s/f portfolio of leased properties throughout the United State for United Business Media; and, since 1987, handling more than 200,000 s/f for Allied Irish Bank.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
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
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,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking