Category: New York City

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? The opening of the JP Morgan tower on Park Ave. Five years after the COVID lock-down and NYC dramatically emptied out, this is a tremendously powerful symbol. New York again overcomes, and reaches new heights.

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? It has been an amazing year in terms of record-breaking conversions, with such office-to-residential projects as 25 Water St. completed and the Pfizer midtown building announced.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? We advised a joint venture of RXR and Elliott Investment Management on the $1.08 billion acquisition of 590 Madison Ave., a trophy one-million-square-foot Class A office tower in Midtown Manhattan, from STRS Ohio.

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? This year, we saw continued momentum in the multifamily sector across Long Island. Communities are recognizing the value of thoughtfully designed, walkable downtowns, and they’re placing greater emphasis on modern architecture as part of that evolution.

What transaction, project, or key moment best reflected the direction of the New York CRE market this year? This year underscored a structural shift in the office market. Demand has permanently changed, leaving many assets functionally obsolete and clearly over-assessed and entitled to significant tax reductions. Forward-looking municipalities are acting nimbly, embracing conversions and adaptive reuse

What transaction, project, or key moment best reflected the direction of the New York CRE market this year?  The long-term master lease between Vornado Realty Trust and NYU for more than 1 million s/f at 770 Bdwy. reflects an important market signal. The 70-year structure, paired with a significant upfront payment, shows continued institutional confidence in high-quality office assets despite market uncertainty.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025?Djurkovic Investment Properties “DIP” is working on a thoughtful office-to-resi conversion plan. The result is a project that blends housing with live-work amenities, reduces long-term vacancy risk, and demonstrates how zoning policy can unlock density without sacrificing community charm.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? Our Brooklyn team sold 14 development transactions totaling 700,000 BSF, illustrating the strength of the borough’s market and our robust activity there. Through a competitive process that produced multiple bids, the Capital Services Group arranged $68.1 million

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? The ACP team facilitated the largest single-asset multifamily sale in the state of New York in 2025, the $120MM+ disposition of Northway Eleven Communities

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? On the investment sales side, I think there will continue to be opportunities in NYC distress. Specifically, in smaller multifamily and office properties.

What emerging trends or shifts will shape opportunities for you, your firm, or market sector in 2026? As we look ahead to 2026, several industry and market shifts have presented major opportunities for our firm.

What accomplishment, milestone, project or transaction stood out for you or your firm in 2025? One accomplishment that stood out for our firm in 2025 was our ability to successfully deliver multiple complex, occupied-space construction projects