News: Brokerage

PEACE Inc. of Syracuse receives NYSERDA awards

The New York State Energy Research and Development Authority (NYSERDA) recognized eight engineering firms and community-service agencies, including People's Equal Action and Community Effort (PEACE Inc.), for their energy-saving projects through the authority's Multifamily Performance Program. Partners in the program-energy professionals focused on improving multifamily building performance earned the awards for projects that exceeded the MPP minimum energy savings target of 15%. The projects demonstrate efforts to support New York's electricity and fuel reduction goals. "Multifamily buildings are large users of energy, and therefore there are many opportunities to implement energy savings measures," said Francis Murray Jr., president and CEO of NYSERDA. "Congratulations to PEACE Inc. for developing exceptional projects that go above and beyond the program requirements. The improvements applied to multifamily buildings have an important impact on energy use and the environment in the state." PEACE Inc. was honored in the Outstanding Savings Award category for exceptional savings in the retrofit of an existing building complex. It earned a bronze award for the Grant Village apartments energy efficiency project. The project reduced energy use by 25% and reduced costs by $268,658 annually through upgrades including boiler replacement, attic insulation, apartment entrance fixtures, kitchen lighting, bedroom fixtures, Compact Fluorescent Lights (CFLs), and carbon monoxide detectors. PEACE Inc. was also honored with a gold Partner Excellence Award for the highest actual energy savings for three completed existing projects: Grant Village plus DC West Carthage Associates (44% energy savings) and DC Carthage Associates (43% energy savings), both affordable apartment complexes in Carthage. Collectively, the three projects are saving $411,648 in energy costs annually. The objective of each project is to maximize energy efficiency in multifamily buildings to lower energy costs while improving the health and comfort of residents. With a portfolio of programs and incentives available to owners, condo/co-op boards and developers, the Multifamily Performance Program provides opportunities to gain access to NYSERDA, technical assistance, funding and low-cost financing to implement energy efficiency measures. Other winning partners include: * Buffalo Energy Inc., Buffalo; * CJ Brown Energy P.C., Buffalo * L&S Energy Services, Albany; * Steven Winter Associates Inc., New York City; * Malcarne Contracting Inc., Hudson Valley; * Community Environmental Center, New York City; and * Association for Energy Affordability, New York City.
MORE FROM Brokerage

AmTrustRE secures 5,754 s/f lease with GKV Architects at 360 Lexington Avenue

Manhattan, NY AmTrustRE has executed a 5,754 s/f lease at its premier boutique Midtown East office tower, 360 Lexington Ave., with longtime partner GKV Architects. The award-winning firm will occupy a portion of the 14th floor. >“GKV Architects has been a trusted partner to AmTrustRE for over two decades, playing an integral role in shaping and elevating several
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.
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
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,