News: Brokerage

Stark of Ciminelli brokers $2 million sale of the 20,120 s/f One John James Audubon Pwy.

Ciminelli Real Estate Corp. has represented the ownership entity of One John James Audubon Pwy., in the $2 million sale of the building to The Exigence Group. Located adjacent to the University at Buffalo North Campus, the 20,120 s/f class A building will serve as The Exigence Group's national headquarters. Ciminelli, represented by Bill Stark, Jr., was the exclusive broker for the owner, One John James Audubon Partnership. Rob Savarino represented The Exigence Group. Jean Powers of Jaeckle Fleischmann served as legal counsel for the Partnership, and Anne Evans was counsel for The Exigence Group. The Exigence Group is a national physician-owned organization specializing in the management of emergency medicine, hospitalist medicine, urgent care, occupational medicine and wellness programs. Headquartered in Williamsville, New York, Ciminelli Real Estate Corporation is an affiliate of Ciminelli Development Company, Inc., a prominent Western New York real estate development and investment company. Ciminelli Real Estate specializes in providing corporate real estate services, leasing, marketing, and property management to over 350 international, national, and local clients in Western and Central New York, Florida, and Southern Ontario, Canada.
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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.
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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 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