May, 2021 message from the president of NYSCAR - by James Walker

May 04, 2021 - Upstate New York

Education has been an on-going free benefit to the membership this year. Many thanks to Edward Smith, Jr., for teaching during the April Spring Conference hosted by the Hudson Valley Chapter of NYSCAR.  Past president Smith did a great job teaching “Selling Commercial and Investment Properties: Issues, Money and Laws” with 7.5 hours of c.e. credit.

Also, in April we were pleased to have Joseph Larkin, CCIM, MCR, SIOR, SLCR present “Real Estate Investment Measurements using Excel. “Joe’s passion for real estate was very evident in this high-level course.  Joe will be presenting another Excel course June 14 & 16.

Education Corner - Visit the Calendar at www.nyscar.org

May 11, 2021

Economic & Legal Update Virtual Webinar, featuring Dr. Mark Dotzour and Neil Garfinkel, Esq.

Sponsored by Long Island Board of Realtors, NYC LI Chapter NYSCAR, Long Island Board of Realtors Commercial Network, CCIM, CIBS

Dr. Mark Dotzour is a real estate economist who served 18 years as chief economist of the Real Estate Center at Texas A&M University in College Station. His research findings have appeared in the Wall Street Journal, USA Today, Money Magazine, and Business Week.

Neil Garfinkel Esq. “What you need to know about recent changes in Real Estate Law”   Neil is the managing partner of AGMB, and he is the partner in charge of AGMB’s Real Estate Practice. He is legal counsel for the Real Estate Board of New York

July 14 & 16, 2021

Real Estate Investment Modeling using Excel – Joseph Larkin, CCIM, MCR, SIOR, SLCR

Building a proforma model is a crucial first step in every real estate investment venture. Microsoft Excel’s financial analysis capabilities can make proforma models more accurate and bring enhanced meaning to financial analyses. In this on-line workshop, attendees will learn step-by-step instructions for creating an accurate proforma for analyzing the financial performance of investment real estate. The workshop is designed specifically for real estate professionals interested in expanding their knowledge of financial concepts and Excel tools. Attendees learn Excel’s basic tools financial analysis functions and then apply them to their own investment and development models. 4 hours c.e. pending

Governor Cuomo Announces $25 Million Energy Management Program to Increase Energy Efficiency in Commercial Office Space, Reduce Greenhouse Gas Emissions, and Create Healthy Workplaces

New Initiative Leverages Cutting Edge, Real Time Energy Management Services to Reduce Energy Use in Tenant Spaces, Supports Governor Cuomo’s Nation-Leading Goal to Reduce Greenhouse Gas Emissions

ALBANY, NY Governor Andrew M. Cuomo today announced the $25 million Real Time Energy Management + Tenants Program to reduce greenhouse gas emissions by increasing energy efficiency in commercial spaces as office and building capacity begin to increase during the COVID-19 economic recovery. Today’s announcement supports the Governor’s goal to reduce greenhouse gas emissions 85% by 2050 as outlined in the Climate Leadership and Community Protection Act.

“As we continue to confront climate change head on, it is important to remember that buildings are one of the largest sources of harmful greenhouse gas emissions in our state and therefore represent the greatest opportunity to reduce their future impact,” governor Cuomo said. “Our economy is rapidly changing post-COVID and the commercial spaces market will never be the same again, so it is imperative that we use this time to evaluate our commercial workplaces to ensure they are safe, energy efficient, and sustainable.”

To view full release, CLICK HERE

National Association of Realtors: As Lease Addendums Rise, Marijuana Businesses Adapt by Purchasing Commercial Property

WASHINGTON, NY As marijuana becomes legalized in more parts of the country and as an increasing number of states grow, harvest, store, sell and allow consumption, the nation’s real estate industry has felt the effects.

According to a new report from the National Association of Realtors, there has been a noticeable rise in demand for warehouses, land and store fronts used for marijuana. The 2021 survey, “Marijuana and Real Estate: A Budding Issue”, examines the legality of marijuana in terms of medical only, legalized medical and recreational prior to or after 2016.

More than one-third of respondents in states where marijuana has been legalized the longest said inventory was tight for multiple reasons and cited the marijuana industry as one of the factors. This is also true for those in areas where marijuana was more recently legalized, as 23% of Realtors also partially blamed the marijuana industry for the limited inventory.

To view full release, CLICK HERE

James Walker, CCIM, is the current president of NYSCAR, Albany, N.Y.

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