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JRM works with EvensonBest for 22,000 s/f office build out
August 29, 2023
Manhattan, NY JRM Construction has completed work for EvensonBest, known to be one of the largest furniture dealers in North America. EvensonBest tapped JRM to build out 22,000 s/f of corporate office space in the Union Square neighborhood. At 55 5th Ave., the space features
Statewide construction workforce continues to grow, diversify according to NY Building Congress
August 29, 2023
Manhattan, NY The New York Building Congress released a report that found that New York’s construction workforce continues to grow and diversify despite ongoing challenges across the industry.
Ketosugbo, Holub and Seong join Spectorgroup
August 29, 2023
Manhattan, NY Spectorgroup has added three new hires to its team. The new team members bring a wealth of knowledge to the firm, further strengthening Spectorgroup’s ability to deliver thoughtful, research-based design strategies to its clients.
Cauldwell Wingate Construction completes The Davis Companies and Highland Development Ventures' 6,00...
August 29, 2023
Manhattan, NY The Davis Companies (Davis) has completed development of a new self-storage building at 155 West 29th St. The 180,000 s/f facility contains over 6,000 units in a wide variety of unit sizes. The facility will be operated by Public Storage and will offer expanded hours, and short-term
Greater Binghamton: A place for businesses to begin, grow, and thrive - by Stacey Duncan
August 29, 2023
Greater Binghamton has been home to companies who have left an indelible mark on our community. From companies such as Endicott Johnson, led by an innovative industrialist who prioritized the well-being of his workers; to companies like DICK’s Sporting Goods, who got their start in the City of Binghamton as a bait and tackle shop
Thoughts on avoiding damage due to crane collapse - by C. Jaye Berger
August 29, 2023
The city seems so crowded at times, it’s like we’re all working on top of one another. Now that a few weeks have passed since the crane collapse in New York City, hopefully, all of the affected parties have filed at least the first phone call with the relevant insurance carriers to start the process of trying to obtain demands for damages.
Navigating NYC’s Local Law 11: An essential guide for building owners - by William Gati
August 29, 2023
In the heart of New York City’s expansive and diverse architectural landscape lies a pivotal and non-negotiable regulatory system in safeguarding the urban fabric and the lives of its inhabitants and passersby. One such crucial regulation is Local Law 11, also known as the Facade Inspection and Safety Program (FISP)
The long and winding road of cap rates - by John Rynne
August 29, 2023
In 1970 the Beatles released their last album together; “Let It Be”. On that album was a classic song; “The Long and Winding Road”. This memorable song also was released as a single and became the Beatle’s 20th number one single. Shortly after, the Beatles broke-up.
Real estate innovation – an opportunity - by Sandy Klein
August 29, 2023
Empty office buildings. It’s nearly three years since the “return to work” predictions began. However, for quite some time now desks remain empty, floors remain empty, offices remain empty and buildings remain empty. Tenants no longer have the same space requirements and are downsizing.
Navigating 1031 Exchanges in a rising interest rate environment - by Michael Packman
August 29, 2023
Prior to the July hike, the Fed held rates in June following increases of 25 basis points in February, March and May 2023, and 50 basis points in December 2022. These increases follow four consecutive increases of 75 basis points and increases of 50 basis points in May and 25 basis points in March 2022.
Simone Development sign two new retail leases totaling 3,552 s/f at Boyce Thompson Center
August 15, 2023
Yonkers, NY Simone Development Companies has announced signing two new leases totaling 3,552 s/f of retail space at the Boyce Thompson Center at 1086 North Broadway. Enbu Asian Fusion, a Japanese/Asian fusion restaurant, is leasing 2,580 s/f of space at the mixed-use center. SoYo Nails, a nail salon
SRS Real Estate Partners completes $9 million sale of Great Northern Mall; major redevelopment plann...
August 15, 2023
Clay, NY SRS Real Estate Partners announced it has completed the $9 million off-market sale of Great Northern Mall. The shuttered property is situated on 120 acres and is slated for a major mixed-use town center redevelopment to encompass hundreds of apartments and townhomes, entertainment venues, restaurants, medical offices
Newmark secures $500 million investment for cold storage platform, Envision
August 15, 2023
Newmark has recently raised $500 million from an institutional investor to capitalize a new cold storage operating and development platform, Envision Cold (Envision). This investment allows Envision to acquire and develop over $1.5 billion of cold storage assets. Newmark advised on the equity raise and formation of the company. The team was led by Newmark's co-presidents of Debt & Structured Finance, Jordan Roeschlaub and Dustin Stolly
Commercial classroom: 1031 Exchanges: Part 1 - by Edward Smith
August 15, 2023
We will begin this article by looking at the history of 1031 Exchanges, next month we will illustrate the procedure and rules. Congress, in an effort to pay for the American Civil War, imposed the first income tax in 1861
Compass Development Marketing Group expands into Long Island market
August 15, 2023
Long Island, NY Compass Development Marketing Group (CDMG) announced it is expanding its marketing and sales expertise into New York’s Long Island luxury market. CDMG has established itself as one of New York City’s premier luxury new residential development sales and marketing teams, having helmed successful sellout campaigns at some of the City’s top buildings, including
Mayor and Densen of Island Associates broker lease with IM=X Pilates
August 15, 2023
Roslyn Heights, NY Lawrence Densen and Christopher Mayor of Island Associates brokered a 10-year lease agreement with IM=X Pilates, for approximately 3400 s/f+/- located at 43-53 Mineola Ave
Racanelli Construction Company, Inc.’s Spirit Squad Helps Build A Habitat for Humanity of Long Is...
August 15, 2023
Melville, NY Racanelli Construction Company, Inc., a leading construction management, general contractor, and design/build resource for commercial, industrial, retail, medical, pre-engineered, and multi-unit residential projects, recently participated in a Habitat for Humanity of Long Island house build. On June 21, 2023, 14 Racanelli Construction employees volunteered their time to help
Fourteen Forchelli Deegan Terrana LLP attorneys named to The Best Lawyers in America 2024 & Best Law...
August 15, 2023
Uniondale, NY Forchelli Deegan Terrana LLP’s (“FDT”) chairman and co-managing partner, Jeffrey Forchelli, was selected by his peers for inclusion in the 30th Edition of The Best Lawyers in America for Land Use & Zoning Law. He has been recognized annually since 2018
Adler of Rand Commercial completes $9.3 million sale of 522 acres in West Park, NY
August 15, 2023
West Park, NY Rand Commercial has completed the $9.3 million sale of 522+/-acres at 2054-2055 Rte. 9W in Ulster County, NY.
Dottid upgrades insights with portfolio performance
August 15, 2023
Dottid announced that the leading proptech solution is now offering upgraded insights with the release of their holistic and customizable portfolio performance visualizer. Dottid users can now get a snapshot of potential risks, occupancy trends, target industries, important tenants, and more for even smarter portfolio decision-making. Portfolio performance is the newest product added to Insights, next to dynamic projections and leasing performance