2023 Year in Review: Alex Lipsky, Lipsky Construction

What person, project, transaction, or market trend had the greatest impact on your industry this year? In response to dynamic market shifts, Lipsky Construction has evolved into a true one-stop turnkey operation through our developer-focused construction management services.

2023 Year in Review: John Malizia, A-1 Roofing & Siding of L.I. Corp.

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? The replacement of multiple roof surfaces at the eponymous Starrett-Lehigh building. Set upon the Hudson River with breathtaking views of the city’s skyline, this project had it all; a multitude of trades

2023 Year in Review: Justin Hermann, smartIT LLC

How has your career path changed in 2023? I have taken my hands off the keyboard after being a technical leader for the past six years with our team at smartIT. My focus now is to help prospective and existing clients in their security and IT journey. I spend most of my time meeting with our clients helping them

2023 Year in Review: William O’Brien, M.C. O’Brien Inc.

What person, project, transaction, or market trend had the greatest impact on your industry this year? Interest rate spikes while historically still not high have created issues as owners and developers have counted on super cheap money. That coupled with new underwriting requirements for institution financing have led to stress for many asset classes.

2023 Year in Review: Shimon Shkury, Ariel Property Advisors

What person, project, transaction, or market trend had the greatest impact on your industry this year? Affordable housing led the way in NYC’s multifamily market and proved a solid asset class of choice for mission-driven capital. Ariel’s team arranged two of the year’s significant affordable

2023 Year in Review: Timothy Shea, Jr., Certilman Balin Adler & Hyman, LLP

What person, project, transaction, or market trend had the greatest impact on your industry this year? The most significant market trend for our industry has been the warehouse boom.

A pause in interest rate hikes
- by Michael Packman

On October 19^th, Fed chair Jerome Powell suggested that the Fed would not raise interest rates at their next meeting and reminded us that there has not been an increase since the July meeting. The goal of the Fed continues

Madison Ave. sees leasing activity in 2023 as never before It comes out “new and improved” after COVID - by Joseph Aquino

The biggest news as of this quarter is Dolce & Gabbana leased 695 Madison Ave. which was the former Hermes store at the Northeast corner of Madison and 62^nd St. which houses 23,000 s/f. Hermes left last year to expand to

Appraisers are under the radar - by John Rynne

As I’m writing this article, the Trump Organization civil case is in the midst of being tried in New York State Supreme Court in Manhattan. Much of the discussion happens to be about over valuation or under valuation of

Distressed real estate - distressed debt - by Sandy Klein

Uncertainty and concerns about the New York commercial real estate market abound. Office vacancy rates are at close-to if not at all-time highs. The pandemic-induced work-from-home mode has become the new reality and interest rates have seen a steep surge to levels not seen in many years. Each of these situations alone is a challenge but together