Iskalo Development celebrates reopening of the Electric Tower
Mayor Byron Brown recently joined Paul Iskalo in a ceremonial toast to celebrate the grand reopening of the Electric Tower. The event featured tours of the renovated landmark located at 535 Washington St. in the downtown area.
Since acquiring the Electric Tower from Niagara Mohawk Power Corp. in 2004, Iskalo Development Corp. has undertaken a meticulous restoration and upgrade of the historic landmark. Earlier this year, the building welcomed its first tenants including the NYS Liquor Authority, NYS Public Employment Relations Board, NYS Department of Agriculture and Markets, NYS Fire Prevention and Control, NYS Department of Corrections, NYS Employee Assistance Program and GZA Geo Environmental.
The 14-story Electric Tower consists of 120,000 s/f of class A office space including six, octagon shaped "tower" floors. The building offers full-floor office tenancies ranging from as small as 2,700 s/f in the tower and up to 16,000 s/f on the main building floors.
Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
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Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent