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As has been widely reported, Nassau County recently completed the first county-wide reassessment in eight years. The results of the reassessment were published earlier this month on the 2020/21 Tentative Assessment Roll. The goal of the reassessment is a laudable one in that it aims to provide a fair assessment for every property owner in Nassau County. Unfortunately, based upon our review of the reassessment, we do not believe the county’s goal will be accomplished.

New York, NY Adelaide Polsinelli and Ronda Rogovin, both vice chairs of Compass, a technology-driven real estate platform, the investment sales division has expanded with new hire, Michael Caiola. As part of its continued growth and expansion, Caiola joins, George Moss, Karen Dome, Mitchell Goldstick, Trystan Polsinelli, along with Robin Abrams and her team who are expanding the retail leasing division.

New York is set to adopt radical changes to building energy regulations that will significantly shift the building industry. These changes come against the backdrop of both the 2018 United Nations Intergovernmental Panel on Climate Change report outlining the direst picture of possible climate impacts to date, as well as the U.S.’ decision to pull out of the Paris Climate Agreement. The increasing urgency to reduce CO2 emissions in the near term has fallen on institutions and local governments.  

Robots at the wheel. It’s not a matter of if autonomous vehicles are coming; it’s when – and real estate companies are preparing now. Will there be the same demand for parking? Will automated lanes be dedicated for pick up, driving and drop off? Will fleets of self-driving cars require fueling stations? Will there be a reduction in traffic congestion that could open new land-use opportunities?

Crain’s New York Business is reporting a market downturn for both co-ops and condos - a downturn that “may get worse.” While building managers cannot be held responsible for market trends, they can get caught in some of the crossfire between buyers and sellers. Every buyer in the market working with a savvy broker will be fully familiar with this market trend and will be looking for any edge to justify a low ball purchase offer.

As the Tax Cuts and Jobs Act brings the most sweeping changes in the tax code in over 30 years, the 2018 tax season is going to be a roller coaster ride for many. Tax professionals are scrambling to learn all of the implications for both individuals and businesses as the season gets into full swing. How this affects you, the commercial real estate investor, and what you should be aware of before making your next real estate purchase, is detailed below. We also rate the tax changes between 2017 and 2018 as Good, Great or Ugly.

Brooklyn, NY Inspiron Construction, under the leadership of principal and CEO Alen Gershkovich, has recently begun closing out phase I, one of the firm’s larger and more complex interior projects. Located in Brooklyn Heights on the corner of Clark St. and Willow St., Inspiron was tasked with the full interior demolition, structural improvements and infrastructure upgrades to the 15-story, 320,000 s/f building. The tower, a Romanesque-style former hotel that opened in 1928, will soon be New York City’s newest luxury senior-living development.

Brooklyn, NY According to Brown Harris Stevens Development Marketing, the firm has added JDS Development Group’s 613 Baltic to its roster of developments. The brokerage firm, which just opened its second office in Park Slope, will be assuming sales and marketing for the 11-story, 43-unit condominium building.

Manhattan, NY Solow Building Co. has launched leasing at 685 First Ave., a residential tower. Rising 43 stories tall and situated along the East River, the black glass building is introducing a collection of 408 rental apartments featuring breathtaking river views and located in the heart of Midtown East.

White Plains, NY More than 100 real estate professionals were on hand for the Annual State of the Market luncheon held recently by the Building Owners and Managers Association of Westchester (BOMA). The program, which was held January 10th at the Crowne Plaza, featured a panel of real estate executives including Charles Epstein, VP of development for Lennar Multifamily Communities; Guy Leibler, president of Simone Healthcare Development; and Peter Duncan, president and CEO of George Comfort & Sons. Robert Weisz, president and CEO of RPW Group, was the moderator.

New York, NY The New York Real Estate Journal recently sat down with John Meyers, CEO and president of Pumping Solutions Inc., for a question and answer session. The pump sales and service company serves real estate companies, commercial establishments, colleges, and hospitals all across the New York Metropolitan area. 

Rye Brook, NY Con Edison’s announcement on January 18 that effective March 15 it will no longer accept new natural gas customers in rapidly developing lower Westchester County due to a severe shortage of available supply, is a wake-up call for all who are focused on the economic present and future of Westchester and the entire metropolitan area. In light of Con Edison, the Business Council of Westchester will immediately organize a campaign to bring together the best minds from the public, private and not-for-profit sectors to address the natural gas shortage crisis head-on and present viable, practical solutions.

Manhattan, NY Related Companies and The Hudson Companies have launched plans to bring 340 new units of affordable housing to Roosevelt Island. The developers and their city and state partners at the NYC Housing Preservation Department, NYC Housing Development Corp. and NYS’ Homes and Community Renewal agencies closed on the property on December 26th, 2018. Construction for Riverwalk 8, a 21-story building, located at 460 Main St., began in January and occupancy is expected in 2021.

New York, NY IREM NYC held its January Breakfast Meeting, “Property Management in the Age of #MeToo.” For years, courts have provided guidance on the definitions of sexual harassment and sexually hostile work environment, and on the defenses available to employers. Their breakfast meeting provided an overview of what constitutes sexual harassment according to legislation, EEOC guidelines and case law.

Albany, NY On January 27-29, the American Council of Engineering Companies of New York (ACEC New York) held their annual Winter Conference for the second year at the Capital Center and Renaissance Hotel in downtown Albany. This event is the largest conference on the ACEC New York calendar, and this year’s attendance exceeded all expectations with over 400 engineering and related professionals, as well as agency and authority personnel, in attendance. The conference also offered parallel tracks for CFOs/business managers, emerging leaders (engineering professionals preparing to take on top leadership roles in engineering firms), and a new track for HR personnel, which turned out to be a popular addition.

New York, NY Professional Women in Construction (PWC) - New York Chapter launched its 2019 Experienced & Emerging Mentorship Program on January 25. In June 2017, PWC launched its first Experienced & Emerging Mentorship program. The inaugural program paired 50 of the chapter’s members into 25 pairs. PWC is now taking applications from members to launch the third year, after a successful second year in 2018 with 28 pairs.

New York, NY With a western view of the Midtown skyline, BOMA New York packed their event space in January’s Lunch & Learn called, I.T. – As a competitive differentiator. Raj Goel, founder of Brainlink International, addressed the sold out room about a myriad of different types of cyber threats to be aware of. He shared real-time case studies and best practices to both educate and to be better prepared.