NAIOP officers discuss top real estate topics at N.Y.C. chapter breakfast

The concerns of the N.Y. commercial real estate market and the issues being pursued in Washington are one and the same, with land use, environmental and tax issues leading the docket, according to the national NAIOP officers that presented at the N.Y.C. chapter breakfast. On May 13, the chapter of NAIOP hosted a members-only breakfast with NAIOP president Thomas Bisacquino, NAIOP chairman Larry Pobuda and NAIOP chairman-elect Alex Klatskin addressing the legislative concerns affecting the commercial real estate industry. "We were very honored to have Tom, Larry and Alex take time out of their very busy schedules to sit down and explain the pressing issues they are campaigning on behalf of our industry," said Joseph Tufariello, president of the chapter. "Our members left with great insight. Aside from learning about the prominent issues being addressed on a daily basis, we received great encouragement to continue our strong legislative activity." New York commercial real estate professionals attended the breakfast event at Pera Bistro to learn the details of NAIOP's current legislative priorities and to receive an update on current legislation. "Our group is very unique in the fact that, as opposed to the grassroots efforts of other organizations, ours are 'grass-top' efforts, since our members are the most prominent players in the industry," Bisacquino said. He also explained how NAIOP works with other commercial real estate interest groups in order to form a joint effort to make the commercial real estate industry's largest concerns heard. Bisacquino went on to explain that some of the larger tax issues being discussed are those dealing with carried interest, tax extenders and the Foreign Investment in Real Property Tax Act (FIRPTA). He confirmed that New York representatives are pushing for these issues to make their way up the docket, as they are issues that will aid not only New York, but also the nation's commercial real estate environment. Bisacquino's next hot topic, environmental issues, included one specific concern — the Cap-And-Trade Energy Tax. He discussed some of the problems NAIOP representatives were looking to resolve with this mandate, including the difficulty companies have retro-fitting older buildings in order to accommodate the mandate in a timely manner. "In my 23 years in Washington, I don't remember a time when there were more issues for our industry," Bisacquino said in his closing remarks. He also stressed the need for chapters to learn from each other in order to decide what issues and tactics have worked on the state levels. Following Bisacquino's remarks, Pobuda addressed the room with positive news about the New York market. "New York is doing far better than other markets," he said. "The economic uncertainty that existed 6-12 months ago is not the case anymore. People are more confident in the market." The final speaker, Klatskin, went on to encourage the chapter in their efforts to stay active in their legislative efforts. "Chapter members can really take advantage of their NAIOP membership to find out not only what's going on in their market but in the rest of the country as well," Klatskin said. He ended the presentation with a final request from the members, stressing the importance of letting the national officers know which issues are most important to their community in order to keep theses issues on the forefront. Formed last year, the N.Y.C. chapter of NAIOP represents the city's most respected commercial real estate companies. The chapter has an active public affairs arm, holds Developing Leaders events and educational programs dedicated to providing emerging industry professionals aged 35 and under with programs and educational services that further their growth and business development within real estate, as well as regular networking and educational programs open to all chapter members. Those interested in joining NAIOP's N.Y.C. chapter can visit www.naiop.org. Membership in both the national and local NAIOP chapter is required. Dues are decided upon by each chapter (in addition to national dues). Additional information about the many events and programs planned by The N.Y.C. chapter of NAIOP can be found at www.naiop.org/newyorkcity.