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
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.
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
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.
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
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
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
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
In a groundbreaking move, the New York City Department of City Planning has unveiled a comprehensive plan titled “City of Yes for Housing Opportunity.” This ambitious document proposes significant amendments to the
For far too long “industrial” parks have unfairly held a bad reputation. When people traditionally think about business parks, more often than not, they are viewed less as assets of a community and rather more as eyesores
