News: Brokerage

Greater Buffalo BOMA holds meeting on April 23rd

On April 23, greater Buffalo BOMA held its monthly chapter meeting at Chef's restaurant. Guest speaker, professor Robert Shibley, AIA, AICP of the University at Buffalo, State University of New York provided an update on UB2020, the transformation projects included in the plan, and their positive impacts on the local economy. UB2020's vision is to enlarge the university's enrollment and also to increase its potential to attract top flight faculty and researchers, not just in its medical facilities, but in all areas of study. One of the goals of the plan is to regenerate the economic future of the Buffalo Niagara region. To learn more about UB2020 visit www.buffalo.edu/ub2020/. Shibley came to the University at Buffalo as a full professor in 1982 to chair the Department of Architecture, serving until 1990 when he founded The Urban Design Project (UDP). As director of the UDP, in partnership with the city and Buffalo Place, Inc, Shibley led the development of the city's national award winning The Queen City Hub: A Regional Action Plan for Downtown Buffalo and its related implementation campaign (1999-2004). He was a primary author of one of the city's first comprehensive plans in over 30 years (adopted in February 2006). His current posting is as University at Buffalo's president John Simpson's senior advisor for campus planning and design, where he is responsible for the development of the University's Comprehensive Physical Plan.
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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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Columns and Thought Leadership
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,

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
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