News: Brokerage

Halmar International and A. Servidone-B. Anthony Const. awarded $145.8 million to fix Patroon Island Bridge

Halmar International of Rockland County and A. Servidone-B. Anthony Construction Corp., of Castleton, have been awarded $145.8 million to fix the Patroon Island Bridge. The contract to repair the bridge was unveiled by the state Department of Transportation. The bridge carries Interstate 90 over the Hudson River between Albany and Rensselaer counties. The six-lane bridge, averaging 70,000 vehicles per day, will remain open during the morning and afternoon rush hours. There will be lane closures and restrictions at other times. Work is scheduled to start in the spring of this year. Traffic will continue to flow at all times throughout the construction. Drivers will have to get accustomed to a numerous bridge repair projects in the region this year. This includes work on the Twin Bridges, where the Northway, Interstate 87 crosses the Mohawk River. Another project is underway at Latham Circle in Colonie. The Patroon Island is the largest project of them all. The Patroon Island Bridge project drew 12 teams of bidders that was winnowed to three finalists in recent weeks.
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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.
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