News: Brokerage

NYC Construction & Real Estate Industry Group sponsors Tunnel to Towers event

Shown (from left) are: Jack Oehm, retired FDNY Battalion chief; Ronald Zeccardi, Cresa;
James Pirot, Cresa; Robert Mulligan, retired FDNY lieutenant; Jim Pirot, FDNY lieutenant;
and Peter Wright, retired FDNY captain.

Manhattan, NY More than 300 members of the commercial real estate and construction industries gathered at Red Eye Grill in Midtown for the third annual Building Better for the Tunnel to Towers Foundation (T2T) event sponsored by the NYC Construction & Real Estate Industry Group, led by Cresa managing principals James Pirot and Peter Sabesan and senior vice president Ronald Zeccardi.

The benefit featured Fox News anchor Natasha Verma as the evening’s emcee, U.S. Army troop members stationed in Fort Wadsworth, Staten Island, and T2T founding board member retired FDNY Battalion chief Jack Oehm.

Pirot said, “We are grateful for the generous support of our CRE community whose commitment to America’s heroes remains unwavering!”

Founded in 2002, the Tunnel to Towers Foundation has funded more than $250 million for programs helping disabled first responders and veterans, and the families of those who lost their lives in the line of duty.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
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.
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
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