News:
Spotlight Content
Posted: December 14, 2010
Shimon Shkury, Massey Knakal Realty Services
Contact Name : Shimon Shkury
Company Name : Massey Knakal Realty Services
Email : [email protected]
Phone : 2126607729
Fax : 2126960333
Address, City, State : 275 Madison Avenue, 3rd Floor, NY NY 10016
What was your most notable project, deal or transaction in 2010?
This is a tough call as we worked on several interesting transactions in 2010, including the sale of the retail condominium at The Georgica on the Upper East Side, a portfolio consisting of 230 units subject to tax credit regulations for an affordable housing operator, and a portfolio of properties located throughout Manhattan and The Bronx for an institutional client.
What predictions do you have for commercial real estate in 2011?
Sales volume will continue to increase, a greater portion of which will consist of distressed assets and note sales. Interest rates should remain on the low end given financial market troubles abroad and elevated unemployment, and this will continue to buoy multifamily asset prices. Sellers will continue to have an edge in pricing over buyers, but less so than 2010 as more product comes to market.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
.jpg)
Columns and Thought Leadership
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
.gif)