News: Brokerage

Gruzen of IBI Group â–ª Gruzen Samton receives The Jersey City Living Legend Award

Jordan Gruzen, FAIA, received the Jersey City Living Legend Award for carrying on the architectural legacy of the Jersey City firm of Kelly & Gruzen, now known as IBI Group â–ª Gruzen Samton with offices in N.Y.C. and Alexandria, VA. In May 2009, Gruzen Samton joined The IBI Group, a multi-disciplinary consulting firm that currently employs over 3,000 people in over 70 offices across North America, Europe, the Middle East and Asia. The award was given to him by Jersey City Landmarks Conservancy at their annual preservation awards ceremony on May 29, which took place at the historic Lowe's Theatre in Journal Sq. Mayor Steven Fulop also presented Gruzen with a special proclamation praising his contributions to the architecture. Kelly & Gruzen was founded in 1936 by B. Sumner Gruzen and Col. Hugh A. Kelly at 26 Journal Sq. Since the 1930s Gruzen's firm has contributed significantly to the development of Jersey City. Some of the firm's most prominent projects in Jersey City include Crystal Point Condominiums, Liberty Towers, Newport Ferry Landing, Portside, Jersey City Elementary (PS 3) and Middle School (MS 4), and Jersey City University's master plan and several new academic buildings. The most recent project is a new Four Star 275 room Marriott Hotel in Liberty Harbor North.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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
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
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.