Category: Spotlight Content
2023 Year in Review: Justin Hermann, smartIT LLC
December 26, 2023
How has your career path changed in 2023? I have taken my hands off the keyboard after being a technical leader for the past six years with our team at smartIT. My focus now is to help prospective and existing clients in their security and IT journey. I spend most of my time meeting with our clients helping them
2023 Year in Review: William O’Brien, M.C. O’Brien Inc.
December 26, 2023
What person, project, transaction, or market trend had the greatest impact on your industry this year? Interest rate spikes while historically still not high have created issues as owners and developers have counted on super cheap money. That coupled with new underwriting requirements for institution financing have led to stress for many asset classes.
2023 Year in Review: Shimon Shkury, Ariel Property Advisors
December 26, 2023
What person, project, transaction, or market trend had the greatest impact on your industry this year? Affordable housing led the way in NYC’s multifamily market and proved a solid asset class of choice for mission-driven capital. Ariel’s team arranged two of the year’s significant affordable
2023 Year in Review: Timothy Shea, Jr., Certilman Balin Adler & Hyman, LLP
December 25, 2023
What person, project, transaction, or market trend had the greatest impact on your industry this year? The most significant market trend for our industry has been the warehouse boom.
A pause in interest rate hikes
- by Michael Packman
November 28, 2023
On October 19th, Fed chair Jerome Powell suggested that the Fed would not raise interest rates at their next meeting and reminded us that there has not been an increase since the July meeting. The goal of the Fed continues
Madison Ave. sees leasing activity in 2023 as never before It comes out “new and improved” after...
November 28, 2023
The biggest news as of this quarter is Dolce & Gabbana leased 695 Madison Ave. which was the former Hermes store at the Northeast corner of Madison and 62nd St. which houses 23,000 s/f. Hermes left last year to expand to
Appraisers are under the radar - by John Rynne
November 28, 2023
As I’m writing this article, the Trump Organization civil case is in the midst of being tried in New York State Supreme Court in Manhattan. Much of the discussion happens to be about over valuation or under valuation of
Distressed real estate - distressed debt - by Sandy Klein
November 28, 2023
Uncertainty and concerns about the New York commercial real estate market abound. Office vacancy rates are at close-to if not at all-time highs. The pandemic-induced work-from-home mode has become the new reality and interest rates have seen a steep surge to levels not seen in many years. Each of these situations alone is a challenge but together
New York City proposes bold housing initiatives: A closer look at the “City of Yes for Housing Opp...
November 28, 2023
In a groundbreaking move, the New York City Department of City Planning has unveiled a comprehensive plan titled “City of Yes for Housing Opportunity.” This ambitious document proposes significant amendments to the
Designing development parks of the future today - by Stacey Duncan
November 28, 2023
For far too long “industrial” parks have unfairly held a bad reputation. When people traditionally think about business parks, more often than not, they are viewed less as assets of a community and rather more as eyesores
Current developments in the commercial real estate structured finance market - by Michael Zysman
November 28, 2023
Currently, the commercial real estate structured finance market is finding its footing. This is primarily due to the increase in interest rates, pull back of bank financing, and Federal bank policy. Much of the real estate financing
The potential for assessment increases on a scale not seen for many years is undeniably in the cards...
November 28, 2023
Fall is in the air, but I suspect there could be a deep arctic chill in mid-January when 2024/25 New York City real estate tax assessments are released. A tax assessment storm of sorts is coming together to potentially wreak havoc on
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