News: Brokerage

NAI Friedland industrial division brokers two sales totaling $2.075 million and two leases totaling 16,750 s/f

The industrial division of NAI Friedland Realty has completed two sales totaling $2.075 million and two leases totaling 16,750 s/f. The deals include: * The sale of 37,000 s/f at 42-63 3rd Ave. for $1.75 million. NAI Friedland senior executive VP Ross Schneiderman brokered the transaction between Gilic Realty (purchaser) and SMB Building Corporation (seller). * A two-year lease of 11,400 s/f at 2521 Butler Place. NAI Friedland industrial associate Jeff Clinton represented both the tenant, NortheastRemsco Construction, and the landlord, GLC Property. * A five-year lease of 5,350 s/f at 389 East 3rd St., Mt Vernon. Schneiderman represented the tenant, Tecogen, and Clinton represented the landlord, Seven Nation LLC. * The sale of 2,250 s/f at 114 Herriot St., Yonkers for $325,000. Executive director Steve Kornspun represented both Pyramid America (purchaser) and the private seller.
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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.
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
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,