News: Brokerage

Skyline Developers work to preserve important New York City architecture

To many developers in New York, an old building is simply an obstacle to be torn down, but to developer Orin Wilf, it represents a personal challenge and a diamond in the rough. Wilf, through his Manhattan-based real estate development company Skyline Developers, a division of Garden Homes, has returned several Manhattan buildings to their former glory. Among these historic restorations of note are 41 Broad St., 37 Wall St., and the Rockefeller Townhouses at 13-15 West 54th St. Most recently, Wilf is set to close on the purchase of 1040 Ave. of the Americas, a classic 24-story art deco office tower at West 39th St. Built as the Millinery Building in 1927 by architects Buchman & Kahn who also designed the Hotel Sherry Netherland, Skyline Developers will begin restoration of the building's ornate lobby and brick and limestone stepped-back façade starting next year. Over the past five years, Skyline Developers has invested millions of dollars to restore these historic buildings, winning numerous awards for their efforts along the way. The New York State Office of Parks, Recreation and Historic Preservation awarded Wilf's firm the 2006Historic Preservation Award for Private Sector Achievement for 41 Broad St.
MORE FROM Brokerage

REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced