News: Brokerage

Schettino of Giscombe handles two leases: 5,480 s/f

Giscombe Realty Group has arranged two leases totaling 5,480 s/f at 558 Seventh Ave. Maoz Vegetarian, a falafel chain restaurant, signed a 12-year, 480 s/f lease. The deal includes a 280 s/f storefront and 200 s/f basement storage space. The broker was Jeffrey Schettino of Giscombe Realty, which also owns the building. The tenant broker was the Kamenitzer Real Estate Group. Mid Town Comics, which leases 5,000 s/f on the second and third floors, renewed their lease for 15 years. "This is a great location for Maoz which saw the benefits of the space," said Schettino, who also signed the Mid Town Comic lease. "We are very pleased to have both tenants." Giscombe Realty Group, headed by Eugene Giscombe, is one of Harlem's leading real estate management, leasing and sales firms that also owns and manages other buildings in other parts of the city.
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Columns and Thought Leadership
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,

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