News: Brokerage

Rochester Area Chapter of NYSCAR holds 2014 Kick-Off Event, with Ruttenberg of Fairmount Properties

There were 85 attendees for the January 16th Rochester Area Chapter of NYSCAR Annual Kick-Off Event at Midvale Country Club. Randy Ruttenberg of Fairmount Properties gave RAC NYSCAR members and guests a presentation on the interworkings of the new College Town project that is being developed on the University of Rochester campus. The University of Rochester selected Fairmount Properties to re-develop a 16-acre "Gateway" site at the front door of its 534-acre campus. The University of Rochester is one of the country's top tier research universities and the largest employer in a nine county area. This $87 million development will include street level retail and restaurants, all with outdoor patio space and sidewalks, a two-level bookstore and gourmet market, class A office space, residential units and a hotel with a conference center. Fairmount Properties has completed 9 other University developments totaling 1.3 million s/f of mixed-use space and $253 million in total development cost. Ruttenberg oversees all of Fairmount Properties' new project initiatives, acquisitions, leasing, and marketing.
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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.
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
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,