News: Brokerage

Prudential Blake Atlantic hosts CIREB's July marketing session

Prudential Blake-Atlantic Realtors, a division of Blake Realty, Inc., hosted CIREB's July marketing session at 501 Smith St., at the Backstage Pub and Grill with guest speaker Ray Gillen of the Schenectady MetroPlex Authority. Offered for sale, the building has a total of 3,100 s/f consisting of restaurant and bar on the first floor with additional space on second floor for private functions. Gillen brought the members up-to-date with all things in the city, including Paul Mitchell's lease to occupy 20,000 s/f at 411 State St. They will open both a retail store and training school at the new location. The project represents a $2 million investment in the county. The new location is expected to attract more than 250 staff, students and customers to the downtown area each day. He also spoke of GE's plan to locate its battery manufacturing plant on the GE Energy campus. The $100 million battery factory will bring 350 jobs to the site and expands the company's clean energy initiatives. For more info, visit www.schenectadymetroplex.org. Upcoming marketing sessions * Sept. 10, hosted by Realty USA at the Rensselaer Train Station. * Oct. 1, hosted by CB Richard Ellis/Albany. * Nov. 5, hosted by Albany Management. * Dec. 3 hosted by Windsor Development. Welcome new members: * Broker membership: Seymour Fox, Seymour Fox Realty; and Barbara Hubbell, Access Premier Properties. * Associate membership: Julie Natale-Dwyer, Roohan Realty; JoAnn Potrzuski, Realty USA; and Lisa Wloch, Classic Homes Real Estate. Education: Breakfast Meeting Sept. 21 at CIREB Headquarters 9 to 10:30 a.m. Light breakfast will be provided. Robert Feller, Esq. of the law firm Bond, Schoeneck & King will be speaking to the membership on many topics including subdivision & site-plan approval, variances and non-conforming uses, SEQRA and more.
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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,

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

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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.