News: Brokerage

Greenspan of GHP arranges 117,196 s/f in leases at office building

GHP Office Realty has signed a total of 117,196 s/f at 10 Country Center. Verizon N.Y. and Verizon Global Networks committed to two separate long term leases for 99,736 s/f and the county of Westchester also signed a new lease for 17,460 s/f. Both tenants committed to leases at the 205,000 s/f office building acquired by the principals of GHP Office and its partner, Benerofe Properties in July, 2007. Verizon Communications has committed to use the County Center Rd. space for their new FIOS services: customer support, call center and training of staff. The location will house over 500 Verizon employees on the ground and fourth floors of the building. GHP Office Realty principal, Andrew Greenspan, who represented both Verizon and the owners in the lease negotiation. The owners of the building recently installed a green cooling system that relies on geothermal technology. The building also serves as one of the county's main telephone switches for the 914 area code. The county of Westchester leased executive office space for its Department of Social Services which relocated into 17,460 s/f on the third floor in January from Grand St. Sal Carrera, Westchester's director of economic development oversaw the search for new space and negotiations for the county. GTL Construction provided complete construction services for the new office build out.
MORE FROM Brokerage

NYSCAR June 2026 president’s message - by Mercedes Brien

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.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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