News: Brokerage

Mayor Duffy cuts ribbon at grand opening of Station 55; Developed by Costanza Enterprises

Mayor Robert Duffy presided at the official grand opening of Station 55, a newly-renovated vendor market, loft apartment and storage building located at 55 Railroad St. in the city's Marketview Heights neighborhood. Duffy was joined by Costanza Enterprises, Inc., as well as the city's commissioner of economic development, Carlos Carballada; city council member Lovely Warren; and James Farr, the city's assistant director of recreation and manager of the city's Public Market. Real estate management and investment firm Costanza Enterprises invested $3 million in the project to create 17 Soho-style loft apartments, 14,000 s/f, of market space and 80 secure storage units. Station 55 provides another venue for bargain hunters, being located one block from the Rochester Public Market. Costanza successfully developed similar lofts in the Temple Building downtown.
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Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced