News: Spotlight Content

Monday Properties' 230 Park Ave. wins BOMA award

According to Monday Properties, owner and operator of 230 Park Ave. office tower, the building has been awarded BOMA's Middle Atlantic Regional Outstanding Building of the Year Award for 2011-2012 in the over one million s/f category. Anthony Westreich, president and chief executive officer of Monday Properties, said, "Last year, 230 Park Ave. competed against other exemplary class A buildings in New York City to win BOMA's Operating Building of the Year for 2011 in New York. This year's award goes beyond the great achievement of being the best in New York City. Our peers have named 230 Park the best among the 16 major markets from Boston to Washington, D.C." The BOMA award recognizes buildings for excellence in building management, operational efficiency, tenant retention, emergency planning, sustainability and community impact. Ronald Eddy, RPA, chair, Middle Atlantic Conference of BOMA, said that the award will be formally presented to Monday Properties at the organization's Regional Awards Dinner in Pittsburgh, Penn., on April 20th. The honor automatically places 230 Park Avenue into competition for BOMA's International Outstanding Building of the Year, competing against other regional winners throughout the U.S. and Canada. Hani Salama, PE, LEED AP Senior vice president, property management and operations, Monday Properties, said, "This recognition is not earned in one calendar year. The entire 230 Park Ave. property management team includes engineering, custodial, safety and security professionals. This award rests on their tremendous efforts and dedication."
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
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

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
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

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

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”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

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