News:
Spotlight Content
Posted: December 23, 2013
Jerry Swartz, HKS Capital Partners
What was your most notable project, deal or transaction in 2013?
2013 was an exceptional year for HKS Capital Partners but what stands out as the greatest accomplishment is sourcing debt for three loans for one borrower for a total of $94 million. The loans entailed three acquisitions, two residential value added buildings on the Upper West Side and one to be built boutique hotel in Midtown East.
We are currently in the final stages of completing a fourth much larger transaction for the same borrower which should be in application as this is printed. What makes this entire process so special is that the driving force behind those deals is someone who started his real estate career with me as my assistant at my former firm. I would like to believe that whatever training I gave him helped to create what he has become in our industry.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.gif)
.jpg)
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
.gif)