News: Brokerage

Omni and Watervliet Housing Authority win Green Preservation Project of the Year

Omni Housing Development LLC of Albany and the Watervliet Housing Authority have won the Green Preservation Project of the Year Award from the New York State Association for Affordable Housing (NYSAFAH). "Van Rennsselaer Village is a model for sustainable, affordable housing," said Alison Badgett, executive director of the statewide Association of over 300 profit and non-profit organizations that advocate for highly energy efficient, affordable housing. Watervliet Housing Authority executive director Charles Patricelli said the design team worked vigorously to, "ensure energy-efficient and green materials be used throughout construction so our residents in need of affordable housing weren't going to be hit as hard by the rise in utility costs. We now provide 81 safe and energy efficient affordable housing units to fellow Watervliet residents for the next 30 years." Duncan Barrett, chief operating officer of Omni Housing Development LLC said, "We have been delighted to partner with the Watervliet Housing Authority and NYS Homes and Community Renewal financing in the transformation of Van Rensselaer Village. Critical to the success of affordable housing that benefits working families and the elderly is a development plan that is sustainable and leads to the lowest feasible operating costs—particularly energy costs. At Van Rennsselaer Village we met all those goals and set a superior threshold for the highest accomplishments in future Omni housing projects." The award is presented to the developer that achieves excellence in energy efficiency, design, construction techniques, financing, affordability, community need and supportive services. Since 2001, Omni Housing Development LLC has specialized in the development, financing, construction, and management of affordable housing, collaborating on dozens of community and private projects from 13 senior housing units in New York's Capital District to 692 apartments in Baltimore, Maryland.
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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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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
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