News:
Spotlight Content
Posted: December 22, 2014
Jonathan Margolis, Morrison Cohen LLP
What was the best thing that happened to you or your firm in 2014?
We continue to be recognized as one of the leading firms representing middle market clients.
What was your most notable project, deal, transaction or personal achievement in 2014?
I represented the seller of tenancy in common interests in 14 Manhattan office properties in a deal worth in excess of $300 million, and then in the reinvestment of the proceeds of that sale in seven different transactions on a tax-deferred basis.
What are you looking forward to accomplishing in 2015?
Continued professional and personal growth, building on strong relationships with our clients and our successful results in 2014.
What are some of your real estate predictions for 2015?
Real estate investors in the New York area will continue to look outside of Manhattan as properties in Manhattan have been bid up to record levels. However, investors need to carefully analyze their prospective investments since substantial new developments in the past few years and rising interest rates expected in mid-2015 could pose problems for properties bought at high cap rates with little current cash flow, based upon the expectation of continued capital appreciation.
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
.jpg)
Columns and Thought Leadership
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
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
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)