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2024 Year in Review: Justin Hermann, smartIT LLC
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? In 2024, we completed multiple IT office projects for our clients which showed continued interest in hybrid work. Expansion into larger office and industrial spaces, throughout the NY Metro area, show promising economic growth and expansion of NY-based companies.
2024 Year in Review: AJ Sonnick, ONE18
December 31, 2024
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024? Our greatest professional accomplishments in 2024 were launching two innovative offerings at ONE18MEDIA to better support our clients and deepen our partnerships.
2024 Year in Review: Kenny Eisman, HUB International
December 31, 2024
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024? My most notable accomplishment this year was securing the insurance for a hotel that is converting from an office building to a hotel. This was a complicated deal because this is one of the first to be approved under the new NY rules.
2024 Year in Review: Rob Kuppersmith, Cushman & Wakefield
December 31, 2024
What emerging trends will drive investment and development in 2025? Personally I think 2025 is going to bring many positive trends in multiple directions. I think we’re going to see an increase in real estate projects across the world. The trends we see are now talking about the replacement of the word, location, location, location
2024 Year in Review: Alex Lipsky, Lipsky Construction Management
December 31, 2024
What emerging trends will drive investment and development in 2025? Every employer in every industry is feeling the stress of qualified workforce shortages. As we enter 2025 we are seeing our clients, from landlords to tenants, invest in their properties through revitalized designs and facility updates
2024 Year in Review: Donald Gelestino, Champion Elevator
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? In 2024, Champion Elevator’s ability to close out major modernization projects as well as secure maintenance agreements with major clients, while simultaneously expanding our expertise in elevator and escalator testing
Building an empire of trusted relationships: The vision and impact of IREON - by Steven Kirschner
December 31, 2024
After spending decades investing time and money without a justifiable return, I wanted to create a business development organization consisting of friends who did not compete in business. A group of people who would gladly share their trusted relationships to “open doors” to new business opportunities utilizing their individual services or products to the commercial real estate industry.
2024 Year in Review: Christopher McCarthy, Keller Williams Realty Greater Rochester
December 31, 2024
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024? KW COMMERCIAL, a division of Keller Williams Realty Greater Rochester, has won the assignment to be the exclusive representative of the 170-acre mixed-use themed development adjacent to NASCAR’s top venue to race enthusiasts
2024 Year in Review: Briggs Elwell, RLTYco
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would say the most unique trend and shift that continues to be a hot debate topic, is return to office. In major city markets such as New York we are almost back to pre-pandemic office occupancy numbers.
2024 Year in Review: Richard Rejmentowski, The Falcon Group
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? At 1298 Inwood Ave.; what was previously a struggling two-level garage and auto-body shop on a 20,000 s/f lot, has been demolished in preparation to build a new 15-story multipurpose residential building, including 195 apartments.
2024 Year in Review: Rémi Norris, TerraCRG
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? One key shift that was seen throughout the market this year was the pretty sizeable expansion in cap rates, particularly with rent stabilized properties. The 2019 rent laws had already had its impact in the market
2024 Year in Review: Michael Montante, Uniland Development Company
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? While commercial business transactions often dominate the CRE headlines, Uniland’s year was highlighted by over 300,000 s/f of construction projects either completed or under way.
2024 Year in Review: Steven Charno, Douglaston Development
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? The new affordable New York tax abatement (485-x) could play a role in jump starting multifamily rental development in New York City. Concerns remain about the changes made to the minimum construction wage beyond the average wage requirements of the previous version of the tax abatement, which could impact underwriting for potential rental sites.
2024 Year in Review: Maxwell Dowd, Cook Properties
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? Although CRE transaction volume declined by nearly 10% compared to last year, institutional-quality, well-located assets continued to trade favorably. Notably, KKR acquired a $2 billion multifamily portfolio
2024 Year in Review: Alexander Bogod, Broadway Realty
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? Key market trends in NYC are reflected in several standout deals this year. A Hudson Yards penthouse sold for $40 million, showcasing the enduring allure of high-end, exclusive properties even amidst broader price adjustments.
2024 Year in Review: Elliot Bogod, Broadway Realty
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? We liked Whole Foods opening in One Wall St. and expecting legendary Parisian luxury department store Printems to open at One Wall St. early next year.
2024 Year in Review: Harry Delany, RM Friedland
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? The number of closed transactions in 2024 started slow but gained momentum mid-year. While transaction volumes remain below active market levels, listings are increasing as year-end approaches.
2024 Year in Review: Benjamin Nevid, Meridian Capital Group
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? This year, we closed a $180 million self-storage portfolio deal with a large money center bank, spanning multiple high-quality properties across several states. As the highest loan-to-value financing
2024 Year in Review: Seth Niedermayer, Kramer Levin
December 31, 2024
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024? This year, one of the more notable deals in which I was involved was representing Hudson Bay Capital in its partnership with RXR Realty to close a $320 million recapitalization of 620 Ave. of the Americas
2024 Year in Review: Shaun Pappas, Starr Associates
December 31, 2024
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? 2024 marked the revival of retail in New York City. We completed several large-scale retail leases and restaurant/member club leases and openings this year. Our client VCR Group opened members club Flyfish Club on East Houston this year spanning three levels
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