Developer’s thoughts to the recent changes to the NYS Rent Laws - by Francis Greenburger

The recent changes to the NYS Rent Laws regarding rent stabilized apartments, included in the 2024 budget legislation and signed into law by governor Hochul, are a step in the right direction. Unfortunately, the step is so small that the effect will be the same as standing still.

Houlihan Lawrence Commercial sells two properties totaling $2.8 million

Tarrytown, NY Houlihan Lawrence Commercial, a division of Houlihan Lawrence, negotiated the sale of two commercial properties totaling $2.8 million. 100 White Plains Rd., a 6,768 s/f Federal style office building was purchased by a

Koeppel Rosen leases 11,000 s/f at 389 Fifth Ave.

Manhattan, NY Koeppel Rosen LLC announced the latest wave of tenant leases at 389 Fifth Ave., a mix of office, retail, and specialty spaces. The 140,000 s/f building continues to attract a range of businesses. For Koeppel Rosen LLC, Max Koeppel negotiated the new office

Gammino and Donahue of Lee & Assocs. sell 75 Pierrepont St. for $6.8 million

Brooklyn, NY Lee & Associates NYC has completed the $6.8 million sale of 75 Pierrepont St., a 25,800 s/f, six-story, rent stabilized, residential building in Brooklyn Heights at a 6.2% cap rate. Thomas Gammino and Patrick Donahue from Lee & Associates NYC repr

Newmark and Greystone secure $560m refi. on behalf of Ares Mgmt. and Douglaston Dev. for 3ELEVEN

Manhattan, NY Newmark Group, Inc. and Greystone Capital Advisors have arranged $560 million in floating-rate debt on behalf of Ares Management and Douglaston Development for 3ELEVEN, a 60-story, 938-unit luxury apartment tower located south of Hudson Yards district.

Brennan and Ellis of Marcus & Millichap sell 48-unit building for $6 million

Brooklyn, NY Marcus & Millichap brokered the sale of a 48-unit apartment property for $6 million. “Despite a noticeable market adjustment with rent-stabilized apartment buildings since 2019, there is still a healthy appetite

Shawmut Design and Construction celebrates completion of St. John University’s $106 million St. Vincent health sciences center

Queens, NY Shawmut Design and Construction, a leading $1.6 billion national construction management firm, joined St. John’s University to mark the grand opening and formal dedication of the St. Vincent Health Sciences Center

Gridtech company David Energy relocates,
signs new lease for 7,955 s/f at 200 Varick St.

Manhattan, NY According to GFP Real Estate, LLC, David Energy (d.b.a. David Energy Systems, Inc.), a technology-driven retail electricity provider (REP) on a mission to run the power grid on

Question and Answer with Marc Kotler, president, new
development group at FirstService Residential

How are you leveraging current market trends to deliver successful residential developments, especially in today’s challenging economic climate? It comes down to making sure a building can operate at the highest level for the lowest cost.

EV Infrastructure and associated risks for property owners Webinar

Manhattan, NY Over the past decade, the global demand for electric vehicles (EVs) has seen exponential growth, necessitating significant infrastructure adaptations to support widespread adoption. One critical