News: Brokerage

Plavin joins Cresa New York as vice president

According to the New York office of Cresa, Michael Plavin joined the office's expanding group of mid-level and senior brokers as vice present. Plavin will focus on providing tenants with flexible real estate solutions that address clients' long and short-term business objectives, as well as their corporate cultures. "Having steered technology, media, financial and legal clients through the many different challenges corporations face as tenants, Michael is more than prepared for a successful career with Cresa New York," said Mark Jaccom, president and managing principal of Cresa New York. "He has defined himself as an innovative industry leader and a solid team player, which matches our strategic approach to tenant representation and our collaborative work environment." Prior to joining Cresa New York, Plavin was an associate at Grubb & Ellis, where he advised tenants and landlords in the development of their real estate strategies, which most recently included the acquisition of 150,000 s/f of space for Harbor Freight Tools. He also received Tishman Speyer's Top Dealmakers Award in 2011, and built a portfolio of established clients that included Banc of Manhattan Capital, AMI-Partners Inc., Careerbuilder.com, Verizon, Qwest Communications and Jacobs Associates.
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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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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
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