News: Brokerage

Mancuso Group selected by GLDC to revitalize a 475,000 s/f building

A 475,000 s/f building in the city's downtown area is being revitalized to help small businesses start, grow and create jobs. The Mancuso Business Development Group has been hired by the Greater Lockport Development Corp. (GLDC) to lead the project. The GLDC's objectives for the property, originally built as the Harrison Radiator manufacturing plant in the early 1900s, are to create jobs, improve the property and become profitable in a three-year period. The building will be renamed "Harrison Place" and will focus its marketing efforts on entrepreneurs in the region, including the greater Buffalo area, Niagara County and Ontario, Canada. Small businesses create more than 70% of net new jobs in America according to the U.S. Small Business Administration. 98% of Niagara County business establishments are small businesses (almost 78% have fewer than nine employees). In addition to a $250,000 grant from senator Masiarz, a Restore NY grant of $1.5 million has just been awarded. The combination of these kinds of programs with improvements in building operations is expected to fund the revitalization.
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SABRE coordinates sale of six properties totaling 199,845 s/f

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.
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Columns and Thought Leadership
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

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.
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

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
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

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