2024 Year in Review: Shaun Pappas, Starr Associates

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

2024 Year in Review: Seth Niedermayer, Kramer Levin

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: Benjamin Nevid, Meridian Capital Group

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: Harry Delany, RM Friedland

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: Elliot Bogod, Broadway Realty

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: Alexander Bogod, Broadway Realty

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: Maxwell Dowd, Cook Properties

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: Steven Charno, Douglaston Development

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: Michael Montante, Uniland Development Company

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: Rémi Norris, TerraCRG

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