Stahl Organization receives BOMA/NY Pinnacle Award
According to The Stahl Organization, the Building Owners and Managers Association of Greater New York (BOMA/NY) has named The Chanin Building (located at 122 East 42nd St.) as the 2012 Pinnacle award winner for the Historical Building of the Year. The Pinnacle Award is the highest award given to owners and property managers in New York City's commercial real estate industry.
Pinnacle's Historical Building award recognizes buildings completed over 50 years ago that have demonstrated a commitment to the preservation of their historic integrity while taking advantage of the improvements of the modern era. Named for its developer and design muse Irwin Chanin, The Chanin Building was completed during New York City's 1929 construction boom and represented the first in a new type of development - the skyscraper. When completed, the building was the tallest building in Midtown and the third largest building in the world.
"We are honored that the Chanin Building earned such a distinct award from BOMA/NY. As owners of this historic building, we strive to maintain the building's Art Deco elegance. We work closely with the property managers to ensure the building upholds the ideals of Irwin Chanin and continues to be a landmark in our City's skyline," said Richard Czaja, co-president of the Stahl Organization.
Each year, BOMA/NY celebrates the best of New York City by presenting the Pinnacle Awards to premiere buildings, people and charitable organizations. All local Pinnacle Award winners are entered into the national TOBY (The Outstanding Building of the Year) awards - first at the Regional level and then at the North American level. The Chanin Building will be entered into the Regional awards for 2012.
The Chanin Building is owned by The Stahl Organization and managed by Cassidy Turley with property manager Paul Greene.
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
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
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 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
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