News: Brokerage

NYS Governor Cuomo administered Oath of Office on December 31st; Duffy, former mayor of Rochester, is lieutenant governor

Andrew Cuomo was elected the 56th governor of NYS on November 2nd. Cuomo and lieutenant governor Robert Duffy, former mayor of Rochester, were administered the Oath of Office at the Executive Mansion on December 31st by chief judge Jonathan Lippman. Prior to his election, Cuomo served four years as N.Y.'s attorney general. As the state's top legal officer, he made restoring public trust in government and protecting N.Y. taxpayers the top priorities of his administration. As attorney general, Cuomo brought national reform to the student loan industry, uncovered fraud within the largest health insurers in the country, protected investors from abuses on Wall St., and made the Internet safer for children nationwide. His groundbreaking investigations into the state pension system ended decades of government corruption in New York and set a model for public pension funds across the country. Cuomo has a long record of fighting for justice and championing government reform. In 1997, Cuomo was appointed by President Clinton to serve as Secretary of Housing and Urban Development (HUD). Under his leadership, HUD was transformed from a bureaucratic backwater rife with waste, fraud, and abuse to a revitalized engine for economic development and unprecedented housing opportunities. Cuomo brought reforms to make government efficient and competent while saving taxpayers millions of dollars. Cuomo's work earned HUD the "Innovations in American Government Award" from the Ford Foundation and the Kennedy School of Government at Harvard University on three different occasions. As secretary, Cuomo made fighting racial discrimination a key focus and brought 2,000 anti-discrimination cases all across the country. In addition, Cuomo established Housing Enterprise for Less Privileged (HELP) in 1986, which became one the nation's largest private providers of transitional housing for the homeless. Based on his pioneering work through HELP, Cuomo was appointed by N.Y.C. mayor David Dinkins in 1991 to lead the N.Y.C. Commission on the Homeless. Cuomo first practiced law as an assistant district attorney in Manhattan. He has also worked as a partner in a N.Y.C. law firm and was of counsel at Fried, Frank, Harris, Shriver & Jacobson. Cuomo graduated from Fordham University in 1979 and Albany Law School in 1982. He is the father of three girls, twins Mariah and Cara who are 15 years old and Michaela who is 13.
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Columns and Thought Leadership
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
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
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,