News: Brokerage

Stalco Construction promotes Finnerty; to the position of project manager

Stalco Construction, Inc., a New York City and Islandia, N.Y.-based general contracting and construction management firm, promoted Michael Finnerty to the position of project manager. Stalco is currently ranked as the 26th largest construction manager and the 89th largest contractor in the nation by Building Design & Construction magazine. The value of the firm's on-going projects totals approximately $140 million. "Since joining Stalco in 2011, Finnerty has significantly contributed to the growth of our firm in the Greater New York area, particularly in the private and institutional market sectors," said Stalco principal and CFO Kevin Harney. "His knowledge of construction procedures and the latest technologies combined with a positive attitude and team approach to managing projects will support Stalco's project delivery efficiency and client relationships," he said. Finnerty's responsibilities include complete project management in pre-construction, delivery, and close-out phases. He will manage value engineering and constructability analysis, budgets, development of subcontractor bid packages, overall construction quality and schedule, and post-construction client support. As project manager, Finnerty currently manages the $16.5-million expansion and renovation of the Long Beach High School in Lido Beach, N.Y. and the expansion of the Riley Avenue Elementary School in Riverhead, N.Y. Prior to his promotion, he served as the assistant project manager at the $8.4-million, LEED Platinum targeted Battery Park City Community Center and the $15-million restoration of the landmark Pier A, both in Manhattan. Prior to joining Stalco, Finnerty worked as assistant project manager and estimator at Tri State Commercial Builders, Michael Anthony Contracting, and Racanelli Construction. Finnerty is an active member of Contractors For Kids (CFK), the largest Greater New York area charity supported by the construction, design and real estate community. Founded by Stalco Construction, CFK financially assists families struck by serious childhood illness. To date, CFK has raised approximately $3 million for its programs.
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.
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
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,