News: Brokerage

Patrick MacKrell 2009

Name: Patrick MacKrell Title: President and CEO Company: New York Business Development Corporation Location: Albany, Buffalo, Melville, New York City, Rochester, Syracuse and Watertown Birthplace and year: Brooklyn, N.Y., 1953 Family: Wife, Peggy, children: Leslie, Meagan, James and Keagan College: York College (CUNY), B.A., and Albany Law School, J.D. First job outside of real estate: U.S. Marine Corps First job in real estate or allied field: NYBDC What do you do now and what are you planning for the future? Manage a dedicated and creative staff that is committed to facilitating access to capital for NYS's small businesses and developing collaborations and lending partnerships with banks and economic development agencies. We plan to continue to be a financial resource for small businesses in good times and bad. We also plan to continue to grow our loan portfolio and maintain our position as NYS's leading SBA lender. Hobbies: Golf, skiing and reading Favorite book: "Fields of Fire" by James Webb Favorite movie: "Full Metal Jacket" Person you admire most (outside of family): Franklin D. Roosevelt Keys to success: Listen, prepare and execute If you had to choose another vocation what would it be? U.S. Marine (once and always)
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Columns and Thought Leadership
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent