News: Brokerage

TAG 380 LLC completes a 20,208 s/f lease at 380 Madison Ave.

Butzel Long has signed a lease with TAG 380, LLC for 20,208 s/f, occupying the majority of the 22nd Floor at 380 Madison Ave. The Michigan-headquartered law firm established a New York office earlier this year with the acquisition of Hollyer Brady Barrett & Hines LLP and has experienced significant growth in just a few short months. "New York is not only a major business capital, but also a central connection between the United States and international markets, where we have a significant number of clients," said Philip Kessler, chairman of Butzel Long. "At the urging of our clients, both in New York and other parts of the world, we have made a significant commitment to establishing and growing our presence here. The new office space in the heart of midtown underscores this commitment and will support our growth as we continue to attract talented attorneys who will further enhance our practice areas and leverage our existing expertise." Brokers from CB Richard Ellis represented both sides of the deal, with Jon Zuckerman advising Butzel Long and Bruce Weinberg representing the landlord.
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SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
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Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.