News: Brokerage

McDonnell of Ciminelli elected to Erie Canalway Heritage Fund Board

According to Ciminelli Real Estate Corporation, one of Western New York's leading full service commercial real estate services companies, Robert McDonnell has been elected to the Erie Canalway Heritage Fund Board. McDonnell, Ciminelli's senior vice president, will serve a 3-year term. The Erie Canalway Heritage Fund Board is a non-profit organization with a board of directors from the private sector. The Heritage Fund Board works closely with the Erie Canalway National Heritage Corridor Commission and staff, with support from the National Park Service in collaboration with communities and organizations to preserve and interpret our heritage, invite visitors to explore what makes the region unique, and ensure a vibrant future for the 2.7 million New Yorkers who call the Erie Canalway home. The role of the Heritage Fund Board is primarily to raise funds for and assist in carrying out the work of the Commission, serving as the managing entity for the Corridor. McDonnell will be assigned to provide support and guidance to the Finance Committee. Tom Blanchard, chair, Erie Canalway Heritage Fund said, "I join the Directors of the Erie Canalway Heritage Fund in welcoming Robert to the board. We look forward to his leadership as we support the Erie Canalway National Heritage Corridor in its mission to preserve and promote the nationally-significant story and resource of the Erie Canal and the NYS Canal System."
MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
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