Category: Spotlight Content
2023 Year in Review: Donald Gelestino, Champion Elevator Corp.
December 26, 2023
What person, project, transaction, or market trend had the greatest impact on your industry this year? The rapid adoption of smart elevator technologies significantly impacted our industry this year. These systems are revolutionizing urban vertical transportation, enhancing both efficiency and safety.
2023 Year in Review: Alex Lipsky, Lipsky Construction
December 26, 2023
What person, project, transaction, or market trend had the greatest impact on your industry this year? In response to dynamic market shifts, Lipsky Construction has evolved into a true one-stop turnkey operation through our developer-focused construction management services.
2023 Year in Review: John Malizia, A-1 Roofing & Siding of L.I. Corp.
December 26, 2023
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? The replacement of multiple roof surfaces at the eponymous Starrett-Lehigh building. Set upon the Hudson River with breathtaking views of the city’s skyline, this project had it all; a multitude of trades
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
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