News: Brokerage

Home Leasing Services nears completion of Clifton Springs Hospital

Clifton Springs Hospital and Sanitarium - Clifton Springs, NY Clifton Springs Hospital and Sanitarium - Clifton Springs, NY
Clifton Springs, NY Historic Clifton Springs Hospital and Sanitarium nears completion of its renovation by co-developers Rochester’s Cornerstone Group Ltd and Home Leasing Services LLC.  The hospital, completed in 1896, has served senior citizens in the Village of Clifton Springs since 1974. Cornerstone acquired the property in November of 2014 from out of town owners. There are 109 studio and 1 bedroom units which are being completely rehabilitated. The common areas are also receiving significant enhancements throughout the apartments and common areas including the renovation of the 6th floor rooftop solarium, which shall be community space for all the residents. There are units which are available to potential residents, with possible assistance from rental assistance vouchers through the Geneva Housing Authority. Home Leasing Services LLC is completing the construction for the project which is expected to be completed by the end of the calendar year. The project has been funded by a myriad of sources including housing tax credits as well as historic tax credits.
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

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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
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 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.