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
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,
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
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.