News: Brokerage

NAI Friedland brokers a $4.017 million sale and three leases totaling 60,600 s/f

The industrial division at NAI Friedland completed a $4.017 million sale and three leases totaling 60,600 s/f. The deals include the following: * Sale of 66,600 s/f at 1101 Zerega Ave. for $4.017 million. NAI Friedland executive VP Peter Cokin represented the purchaser, Hellman Electric & Traffic Works. Cushman & Wakefield represented the seller, Verizon. * A three-year lease of 50,000 s/f of land with a garage building at 10 Hermann Place, Yonkers. Cokin negotiated the renewal between PJ Herman, Inc. (landlord) and Royal Coach Lines (tenant). * A 2,500 s/f lease at 40 Pleasant St., New Rochelle. NAI Friedland industrial associate Jeff Clinton represented both Wodraska Roofing (landlord) and SCS Building Supply (tenant). * A five-year lease of 8,100 s/f at 37 Ramland Rd., Orangeburg. NAI Friedland industrial associate Alan Zucco represented the tenant, LTS Chemicals. Lynn Teger from Teger Commercial represented the landlord, BNM Properties. The asking rent was $4,100.
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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.
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Columns and Thought Leadership
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
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 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