News: Brokerage

Gilco Realty completes four leases totaling over 4,500 s/f

Bronx, NY According to Gilco Realty LLC, Michael Gilbert completed a 4,500  s/f lease at 1160 Southern Blvd. The tenant, Children’s Aid Society, was represented by ARC Advisors. The tenant adds this to their numerous office spaces on Southern Blvd.  Gilbert was the sole broker in a second lease involving 600 s/f at 709 Mace Ave. to a hardware store tenant.  

Epifanio Vargas leased two spaces to personal care service businesses. The first lease was to a barbershop at 408 East 167th St. The tenant was represented by Today Realty. The space had previously been occupied for 9 years as a beauty salon. In the second lease, Vargus completed a lease at 1224 Clay Ave. to Gianni Nail Salon, as the sole salesperson.

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As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
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Columns and Thought Leadership
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
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
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.
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,